2 July 2014
This is a summary of the updates made this year by the IRAS to the list of IT and automation equipment qualifying for enhanced deduction/allowances under the Productivity and Innovation Credit (“PIC”) scheme.
The following equipment have been added to the PIC Information Technology (IT) and Automation Equipment List:
- Website
- Automated cover system for open-top containers
- The following landscaping equipment:
- Ride-on mower
- Ride-on aerator
- Utility loader
- Sod cutter
- Hedge pruner feature (may be mounted on vehicles e.g. lorries)
- Stump grinder/ Stump cutter
- Wood chipper
- Hydromulcher / Hydroseeder
- Sprayer/ Spreader equipment
- Earth auger/ Soil auger/ Mechanised post hole digger
- Trencher
- Air spade
- Edger/ Lawn edger/ Stick edger
- Dethatcher / Lawn scarifier
- Mechanised lawn sweeper
- Mechanised leaf shredder
- Reversible plate compactor
- Potting machine
- Soil mixer
- Electric hedge trimmer
- Electric string trimmer
- Bi-directional Mass Flow Metering system (“MFM”) installed on bunker tankers, approved for use by MPA
The expenditure incurred on items 1 to 3 above will qualify for PIC from YA 2014. The expenditure incurred on item 4 will qualify for PIC from YA 2015.
Source: Inland Revenue Authority of Singapore