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Budget 2014

Posted on 26/02/2014 by achieve-admin

“Budget 2014 is generally positive for the business community, with SMEs benefiting from the extension of the PIC scheme till 2018 and the PIC+ scheme, which raises the expenditure cap for each of the six qualifying activities up to a maximum of $600,000 per YA per activity, or a combined expenditure cap of up to $1.2 million per activity for YA 2013 to YA 2015 with an additional $200,000 for YA 2015; and up to $1.8 million per activity for YA 2016 to YA 2018. However, the 1% CPF increase for all workers is a bit of a dampener for many companies, as it raises business costs for employers. Overall, this Budget is good for everybody, especially the elderly who stand to benefit from the generous Pioneer Generation Package. The package is a very good initiative as it brings forth the spirit of honouring the people who have contributed to the early years of Singapore’s nation-building.” – Joshua Yim, Achieve CEO.