Compulsory e-Filing of PIC Cash Payout

The PIC Cash Payout e-Services allows businesses to log in to mytax.iras.gov.sg to apply for PIC Cash Payout, check the status of your applications and view your PIC Cash Payout notices.

From 1 Aug 2016, e-Filing of the PIC Cash Payout application will be compulsory for all PIC Cash Payout applicants (including companies, partnerships and sole-proprietors). Hardcopy applications for PIC Cash Payout will no longer be accepted on or after 1 Aug 2016.

Apply for PIC Cash Payout

Applying via myTax Portal

Log in with your SingPass 2FA at mytax.iras.gov.sg.

STEP 1: Authorise an employee or a third party via EASY

Your company or partnership will first have to authorise an employee, business owner (director or partner) or a third party, such as a tax agent, for "PIC Cash Payout Matters" via e-Services Authorisation System (EASY)

The authorisation is a one-off process and the authorised personnel will be able to make PIC cash payout applications for the company or partnership as long as his/ her authorisation remains valid. For assistance on EASY authorisation, please refer to the step-by-step EASY authorisation guide(509KB) for more information.

Note: Sole-proprietors do not have to be authorised via EASY.

 

STEP 2: Prepare information needed to e-File the application and determine the incurred dates for your PIC qualifying expenditure

Before you start e-Filing, get ready the necessary information stated in Essential Information for Completing PIC Cash Payout e-Service (162KB) so that you can complete the application in one session. If you have incurred qualifying expenditure before and after 1 Aug 2016, you need to segregate your claims into two categories:

a) Expenditure incurred before 1 Aug 2016 - 60% conversion rate; and

b) Expenditure incurred on or after 1 Aug 2016 - 40% conversion rate.

The cash payout cap remains at $100,000 for a Year of Assessment (“YA”). Hence, you may wish to prioritise and claim cash payout for expenditure incurred before 1 Aug 2016 first (at 60%), before those incurred on or after 1 Aug 2016 (at 40%). You may also refer to the following guidance on determining the dates that expenditure is incurred for PIC Cash Payout purposes.

Please note that the election to convert qualifying expenditure to cash is irrevocable.

STEP 3: e-File PIC cash payout application and relevant forms online

After an employee/ a third party is authorised for "PIC Cash Payout Matters" via EASY, he/ she can log in to mytax.iras.gov.sg to e-File PIC cash payout applications for the company or partnership. A sole-proprietor can log in to mytax.iras.gov.sg directly without any EASY authorisation.

Please note that the 'Apply for PIC Cash Payout e-Service' only accepts one application a day for each quarter or combined quarters of each YA and up to 15 items of expenditures.

A. If you are claiming PIC qualifying expenditures of 15 items or less for one YA, you may submit a single PIC Cash Payout application even if the incurred dates straddle 1 Aug 2016. The PIC e-Service will automatically compute the eligible cash payout rate.

Tip: You may wish to consolidate the items (e.g. by vendor) and provide a detailed breakdown of the consolidated items and their qualifying costs in the description box.

B. If your PIC cash payout application consists of more than 15 items for one YA, please submit separate forms on two days in the following order to maximise your PIC Cash Payout conversion cap -

         (i) first application: for expenditure incurred before 1 Aug 2016; and

         (ii) second application: for expenditure incurred on or after 1 Aug 2016.

Revised timeline

New! PIC Cash Payout e-Filing Tips!

S/N Common Authorisation/ e-Filing IssueWhat You Need To Do
I have misplaced my organisation's e-Services Access Code. How do I obtain a new Access Code from IRAS?

Please request for a new Access Code by submitting the Application for e-Services Access Code (105KB) to us via fax (6351 4427) or email ( tpsmu@iras.gov.sg).

The Access Code will be mailed to your organisation's registered business address per IRAS' records within 4 working days.

Why am I  unable to view the "Apply for PIC Cash Payout" e-Service at the left hand menu bar of myTax Portal?

This is because you have not been authorised by the company/ partnership to act for its PIC cash payout matters.

Your company will need to set up your authorisation for PIC Cash Payout Matters via EASY. You may refer to our EASY authorisation guide (509KB) for details on how to do so.

 3I am authorised for Corporate Tax Matters and/ or GST Matters via EASY. However, I am unable to view the "Apply for PIC Cash Payout" e-Service at the left hand menu bar of myTax Portal. Why is this so?

You must be separately authorised by the company/ partnership for "PIC Cash Payout Matters" via the "View/ Edit/ Delete Records of Authorised Staff/ Third Party" option in EASY.

Please refer to Step 3b in our  EASY authorisation guide (509KB) for details on how to do so.

 4Why am I unable to submit online PIC cash payout application form to IRAS after completing it? 

Only persons authorised as an "Approver" via EASY for PIC Cash Payout matters can submit the application to IRAS.

If you have been authorised as a "Preparer" for "PIC Cash Payout Matters" via EASY, you can only complete the application for submission to the "Approver".

Should you wish to submit the PIC Cash Payout application form to IRAS, please arrange for yourself to be authorised as an "Approver" for "PIC Cash Payout Matters" via EASY

Please refer to our  EASY authorisation guide (509KB) for details on how to do so.

 

For assistance with the PIC Cash Payout e-Filing applications, please refer to:

PIC Cash Payout Processing

IRAS strives to disburse the cash payout within three months of receiving your complete application*. In most cases, IRAS processes the applications within six weeks

IRAS selects a sample of applications for audit. For cases selected for audit, IRAS will request further details and supporting documents for review. We strive to complete the review within three months from receiving the complete information. The processing time may take up to six months, depending on the complexity of each case.

Please note that IRAS may also select PIC applications for further review, even after disbursing the cash payout.

*An application is considered complete if the form and the relevant documents (i.e. the Hire Purchase Template (296KB) and/ or the Research and Development Claim Form (571KB)) are filled out properly.

Check the status of your PIC Cash Payout

A person who is authorised for "PIC Cash Payout Matters" via EASY can log in to mytax.iras.gov.sg "View PIC Cash Payout Application Status" to check the PIC Cash Payout application status of the company or partnership.

A sole-proprietor can log in to mytax.iras.gov.sg directly to check the PIC Cash Payout application status without any EASY authorisation.

New! The PIC Cash Payout application status will be available for viewing within three days from the date of submission of your PIC Cash Payout application. 

You may view the status of applications made for two future Years of Assessment (YAs), the current and the past YA. For example, if you log in on 15 Jun 2016, you can view the status of applications for YAs 2015 to 2018. You will be able to view the status of all applications for these YAs, whether the applications were made via e-Services or otherwise.

We encourage you to check your application status via the e-Service - this is the quickest and most convenient way, as you will be able to access the e-Service anytime.

Please refer to the step-by-step guide (1.07MB) and the FAQs on PIC Cash Payout Application Status e-Service (244 KB) for more information.

  • My company is facing difficulties in e-Filing my Cash Payout. Can I get a waiver from e-Filing and submit a hardcopy cash payout application form instead?

    From 1 Aug 2016, e-Filing of PIC cash payout applications will be compulsory and hardcopy application forms will not be accepted on or after this date. Taxpayers are advised to e-File their PIC cash payout applications early before the filing due date of the Income Tax Return. Please refer to our PIC Cash Payout e-submission video and step-by-step user guides for reference.

     

  • My company purchased a total of 30 different PIC qualifying items in YA 2017 and the financial year-end is 31 Dec. How and when can I submit the cash payout application for YA 2017?

    The PIC cash payout e-Services accept only one application form (with a maximum of 15 qualifying items) per day.

    If you have more than 15 qualifying items and need to e-File more than one application, you will need to e-File on different days. Do e-File early as the PIC application can be submitted any time after the end of the quarter or combined quarters, but before the Income Tax Return filing due date.

     

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