info-tech
Sales Hotline : 6297 3398
   
InfoPay- Payroll Software: IDA Subsidy & IRAS Cash back Details

1. What is IDA Grant?

Singapore IDA (Info-com Development Authority) offers 50% grant for implementing qualified payroll software. Our Infopay payroll software is approved by IDA for 50% grant. From last Year, we have implemented our payroll software to more than 100 companies with IDA grant.

 

 

2.What is the eligibility criteria for IDA grant?
  a. Minimum 30% local shareholding
  b. Company's group annual sales turnover not more than S$ $100 million or company's group employment size not more than 200 workers.
  c. Your company do not already own/ use other payroll software.

 

3.How much is the grant?

50% of the cost capped at $1500.

 

4.How do I apply?

We are the approved payroll solution provider under IDA iSPRINT scheme. Our friendly staff can assist on all the application submission & claim process for your payroll software purchase.

 

5.How long will it take to get back my money?

Usually within 4-6 weeks from the date of implementation, subject to the full submission of completed claim forms and required supporting documents.


 

1.What is PIC? Who is Eligible?

PIC -Productivity Innovation Credit - For implementing certain innovative products, Singapore IRAS (Inland Revenue Authority of Singapore) provides 60% cash back (non taxable) as cash payout. For an example if your company spent S$1000 on our product then you can get back S$600 as cash payout from IRAS.

All the Singapore ACRA registered companies, submitting their accounts to IRAS are Eligible for PIC.

 

2. I'm buying Payroll software. Is my company eligible for both IDA GRANT & PIC?

Yes. For purchasing our Infopay payroll software, your company can get $1400 grant from IDA and 60% cash payout for the balance amount.

 

3. How do I apply? What is the procedure?

The application is very simple. Just need to fill up the application form, attach our invoices and submit to IRAS. As announced in Budget 2012, businesses may opt for cash payout on a quarterly basis any time after the end of each financial quarter.

 

4.How long will it take to get back 60% cash back from IRAS?

The cash payout will be made by IRAS within 3 months from the date of receipt of original PIC application form & supporting documents.


 

Note: Singapore SME companies can claim upto 50% of the qualifying costs, capped at S1500, subject to fulfilling the SME eligibility criteria and the availability of funds. Our payroll software is approved & eligible by IDA for payroll software grant of up to $1500. Subject to fulfilling the SME eligibility criteria and availability of funds.

** This is the sample work out only. The subsidy and cash back is subject to the approval by the relevant authority. Please contact us or visit relevant IDA & IRAS website for more details.

 

   
Info-tech Payroll Systems
30 kallang place,
#07-20/21 Singapore 339159
Join our mailing list
E-mail: sales@payroll-singapore.com.sg 
Website: www.payroll-singapore.com.sg

 

PH: 6297 3398 FAX: 6297 7008