Course Detail(TAX110 : Capital Allowances and Productivity and Innovation Credit (PIC) Scheme)

UTAP Funding

TAX110 : Capital Allowances and Productivity and Innovation Credit (PIC) Scheme

3.50 CPE Hours (Others)
Classroom

Approved for UTAP support for intakes conducted between 01 April 2019 – 31 March 2020.

NTUC members enjoy course fee support with up to $250 every year when you enroll for courses supported under UTAP (Union Training Assistance Programme). This excludes miscellaneous fees such as GST and registration fee etc. (Terms & Conditions apply)

For eligibility criteria or UTAP claims submission, please refer to the Funding tab.

Programme Objective

The half a day course aims to equip participants with the knowledge on various assets for which capital allowances can be claimed, the mechanisms on computing the Capital Allowances and  the conditions to be fulfilled for claiming capital allowances.  This session also intends to provide the knowledge and updates on PIC Schemes.
 

Programme Outline

A. Capital Allowances 

  • What is Plant and Equipment?
  • Qualifying and Non qualifying costs
  • S19 – Writing off assets over their prescribed useful life
  • S19A – Writing off over 1 year or three years
  • Writing off Low value assets
  • CA for assets on Hire Purchase
  • Sale or scrap of capital assets
  • S21 – Replacement of Fixed Assets
  • S24 – Sale of Plant and Machinery to related companies
  • Renovation and Refurbishment Costs (S14Q)
  • Deferring Capital Allowances
  • Industrial building Allowances (IBA)
  • Land Intensification Allowances (LIA)
  • Latest updates from IRAS

B. Productivity and Innovation Credit (PIC)

  • 6 Qualifying Activities of PIC
  • Qualifying Equipment
  • Computation of PIC
  • Minimum ownership of Equipment
  • Converting to Cash
  • Tax deferral Options
  • Unutilisined trade loss / capital allowances arising from PIC
  • Computation for sole proprietorship / partnership
  • Disposal of assets before the minimum ownership period
  • Latest updates from IRAS


Closing Date for Registration

1 week before programme or until full enrolment.
 

Intended For

Tax Professionals, Accountants and auditors who would like to understand the mechanism of Capital allowances and PIC.

Competency Mapping

Others = 3.50 Hours

Schedule & Fees

Date & Time

14 Dec 2017 (9:00 AM - 12:30 PM)

Registration is closed

Programme Facilitator(s)

A. Geetha

Date & Time

11 Sep 2017 (9:00 AM - 12:30 PM)

Registration is closed

Programme Facilitator(s)

A. Geetha

Date & Time

01 Dec 2016 (9:00 AM - 12:30 PM)

Registration is closed

Programme Facilitator(s)

A. Geetha

Testimonial

Funding

NTUC Union Training Assistance Programme (UTAP)
UTAP (Union Training Assistance Programme) is an individual skills upgrading account for NTUC members. NTUC member gets to enjoy UTAP funding 50% of the unfunded course fee capped at $250 every year. This excludes miscellaneous fees such as GST and registration fee etc.
 
This course is approved for UTAP support for intakes conducted between 01 April 2019 – 31 March 2020.
 
As UTAP is given on calendar year basis, and calculated based on year of training taken, it cannot be accumulated.
 

Eligibility Criteria
To be eligible for UTAP, the following conditions need to be met:
  • Maintained paid-up NTUC membership before course, throughout course duration and at the point of claim and;
  • Course by training provider must be supported under UTAP and training must commence within the supported period and;
  • Unfunded course fee must not be fully sponsored by company or other types of funding;
  • Unfunded course fee must be S$20.00 and above, and;
  • Member must achieve a minimum of 75% attendance for each application and sat for all prescribed examination(s), if any and;
  • UTAP application must be made within 6 months after course ends. 
For more information on UTAP, please click here.
 
Please refer to the UTAP Application Guide here on how union members can apply for UTAP via the system.
 
To submit for UTAP claims, please visit http://skillsupgrade.ntuc.org.sg. Terms and conditions apply.
 
Should you have queries on the funding scheme, you can email to UTAP@e2i.com.sg or call NTUC Membership Hotline at 6213-8008.


 

Programme Facilitator(s)


A. Geetha
CA (Singapore) with Certificate for Practice, MBA (Investment and Finance)


Geetha is the founder partner of a Certified Public Accounting Firm. She has more than 20 years of experience in handling Singapore Tax issues and cross border tax issues.

She regularly trains and updates practising and non-practising CAs and the general public in related field on Singapore Income Tax. She has also lectured on the Singapore Income Tax and Planning for ACCA students and students aspiring to be Chartered Financial Planners (CFP).

She has authored revision kits for tax students and also acted as an appointed examiner for an Advanced Tax Paper. 

Approved for UTAP support for intakes conducted between 01 April 2019 – 31 March 2020.

NTUC members enjoy course fee support with up to $250 every year when you enroll for courses supported under UTAP (Union Training Assistance Programme). This excludes miscellaneous fees such as GST and registration fee etc. (Terms & Conditions apply)

For eligibility criteria or UTAP claims submission, please refer to the Funding tab.

Programme Objective

The half a day course aims to equip participants with the knowledge on various assets for which capital allowances can be claimed, the mechanisms on computing the Capital Allowances and  the conditions to be fulfilled for claiming capital allowances.  This session also intends to provide the knowledge and updates on PIC Schemes.
 

Programme Outline

A. Capital Allowances 

  • What is Plant and Equipment?
  • Qualifying and Non qualifying costs
  • S19 – Writing off assets over their prescribed useful life
  • S19A – Writing off over 1 year or three years
  • Writing off Low value assets
  • CA for assets on Hire Purchase
  • Sale or scrap of capital assets
  • S21 – Replacement of Fixed Assets
  • S24 – Sale of Plant and Machinery to related companies
  • Renovation and Refurbishment Costs (S14Q)
  • Deferring Capital Allowances
  • Industrial building Allowances (IBA)
  • Land Intensification Allowances (LIA)
  • Latest updates from IRAS

B. Productivity and Innovation Credit (PIC)

  • 6 Qualifying Activities of PIC
  • Qualifying Equipment
  • Computation of PIC
  • Minimum ownership of Equipment
  • Converting to Cash
  • Tax deferral Options
  • Unutilisined trade loss / capital allowances arising from PIC
  • Computation for sole proprietorship / partnership
  • Disposal of assets before the minimum ownership period
  • Latest updates from IRAS


Closing Date for Registration

1 week before programme or until full enrolment.
 

Intended For

Tax Professionals, Accountants and auditors who would like to understand the mechanism of Capital allowances and PIC.

Competency Mapping

Others = 3.50 Hours

Programme Facilitator(s)

A. Geetha
CA (Singapore) with Certificate for Practice, MBA (Investment and Finance)


Geetha is the founder partner of a Certified Public Accounting Firm. She has more than 20 years of experience in handling Singapore Tax issues and cross border tax issues.

She regularly trains and updates practising and non-practising CAs and the general public in related field on Singapore Income Tax. She has also lectured on the Singapore Income Tax and Planning for ACCA students and students aspiring to be Chartered Financial Planners (CFP).

She has authored revision kits for tax students and also acted as an appointed examiner for an Advanced Tax Paper. 

Upcoming Schedule

Registration is closed

Date & Time

14 Dec 2017 (9:00 AM - 12:30 PM)

Fee (inclusive of GST)

For Members: $ 199.02
For Non-Members: $ 237.54

Programme Facilitator(s)

A. Geetha

Venue

60 Cecil Street
ISCA House
Singapore 049709