Purpose of productivity and innovation credit scheme

Reference no: EM13937821

1. Introduction - Deductions (300 words) - The purpose of the report - What are the Section 14 deductions - What are Section 15 prohibited deductions

2. Main Body (800 words) (A) -The purpose of Productivity and Innovation credit scheme For example, Why did the government implement it.. Why changed it. Budget in 2015... - There are 6 types of activities, identify any 2.

(a) Costs of training employees to upgrade skills (i) Criteria (ii) Qualifying period (iii) How does this benefit the firm and the government (b) Research & Development activities OR Investment in prescribed automation equipment (B) PIC cash payout/ PIC credit bonus Appendix - (400 marks) -

Summary of table for the part (a) - Why is this important for small business? - Companies that have used this schemes. - Conclusion (What is good about this scheme)

The productivity and innovation credit (PIC) scheme was announced in the year 2010 to encourage business to invest in productivity and innovation. It includes for registration of intellectual property rights, training of employees, approved design project and others.

Prepare a short write up (not exceeding 1,500 words) on any of 2 schemes of PIC. The discussion should clearly spell out the criterions and the benefits accrued to the firm.

1) Cite relevant examples;
2) In your discussion, include the benefits accrued especially to small businesses and support with relevant legislations from SITA.

Reference no: EM13937821

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