The PIC scheme enables you to enjoy 400% tax deductions/allowances on up to S$400,000 of your qualifying expenditure per year of assessment (YA)
Convert 40% of your total qualifying expenditure to a non-taxable cash payout, capped at S$100,000 per YA, as of 1 August 2016
This means that for every $1 that you spend on any of the 6 qualifying activities, you can either enjoy a $4 deduction on your payable taxes, or receive $0.40 in a non-taxable cash payout.
However, if you are investing more intensively in your business and are spending more than S$400,000, there is the PIC+ scheme for you. Under this scheme, the cap on your 400% tax deduction is raised to S$600,000 per YA.