Singapore IDA & Inland Revenue Authority (IRAS) offers subsidy and tax deductions to implement the payroll software. Our payroll software is eligible to get the IDA grant and tax deduction from IRAS.

**Below is the sample cost workout of our software cost and subsidy details.

Infopay - Payroll software : Payroll Software Price - $2500 Consultancy, Onsite installation & training charges - $300

S$ 2800

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.

1. *By implementing our payroll software, Singapore SME companies can claim up to 50% of the qualifying cost, i.e. $1400

+

2. **Under IRAS PIC scheme 400% of cost can be deducted as expense or 30% of the cost can get as cash rebate.

	Option 1 : 400% Tax deduction workout: 400% x $1400 = $5600 Tax Savings: $5600 x 17% = $952		Option 2 : 30% cash payout: 30% x $1400 = $452 Cash you will receive: $452
	Total Investment = $2800 - $1400 - $952 = $448		Total Investment = $2800 - $1400 - $452 = $948

* Subject to fulfilling the SME eligibility criteria and availability of funds.

** This is the sample work out only. the subsidy and tax deduction is subject to the approval by the relevant authority.