AscentiaTax Services Pte Ltd is proud to partner with Fuji Xerox to share with their customers and potential customers the latest tax implications of claiming a productivity and innovation credit on acquisition of automation equipment. 

 

 

During the talk, Ho Soon Wing shared with the participants the latest developments after the Singapore Budget 2010 delivery on 22 February 2010 by the Finance Minister, Tharman Shanmugaratnam, relating to credits on acquisition of automation equipment.

1. Analysis on what qualifies as ‘prescribed automation equipment’ under the Income Tax Act;
2. Tax calculation to determine whether it is more beneficial to claim cash grant or tax deduction/allowance in cases where taxpayers have a large number of expensive equipment and hire purchase equipment;
3. Assistance in the preparation of the PIC cash payout form/ Disposal of asset form/ obtaining prior approval for Design fees & R&D.