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Reference No.

: PC2011-05-1013 PIC ACTIVITY


Date: 12-May-2011 Purchase of prescribed automation equipment
Lease of prescribed automation equipment
Company Name: GATEWAY21 Pte Ltd In-house training
Tax Reference No.: 199907299M External training
Business Reg. No.: 199907299M Intellectual property rights acquisition
Reporting Period: From To Patents, trademarks, designs and plant variety registratio
01/01/2010 31/12/2010 Research and development activities
Year of Assessment: 2011 Approved design projects
GST Reg. No.:
Date of GST Reg.:
5,980.60
UNIT PRICE
NO INVOICE NO. VENDOR NAME INVOICE DATE DESCRIPTION TYPE QTY
(SGD)
Centre for corporate
1 T201011/79 management & development 19-Aug-2010 Seminar-Law & Practice External training 1 60.00
Pte Ltd
The Singapore Association of Seminar-An understanding of customer due
2 Y10/1897 the institute of chartered 24-Aug-2010 diligence & anti-money laundering & counter External training 1 85.60
secretaries & administrators financing of terrorism
3 115208 Singapore workforce 30-Aug-2010 Course fee for ACTA External training 1 70.00
development agency
Singapore workforce
4 115290 development agency 6-Sep-2010 Course fee for ACTA External training 1 70.00

5 115350 Singapore workforce 13-Sep-2010 Course fee for ACTA External training 1 460.00
development agency
Singapore workforce
6 116117 development agency 27-Oct-2010 Course fee for ACTA External training 1 205.00
Singapore workforce
7 116280 development agency 12-Nov-2010 Course fee for ACTA External training 1 105.00
Interpret the SWSQ framework, Apply adult
8 5643 Singapore Training & 2-Nov-2010 learning principles & code of ethics, Prepare & External training 1 345.00
development association facilitate classroom training

9 H20090153300 Hitachi 25-Jan-2010 Copier -lease rental Lease of prescribed 1 258.00


automation equipment
Lease of prescribed
10 H20100002500 Hitachi 25-Feb-2010 Copier -lease rental automation equipment 1 258.00

11 H20100016163 Hitachi 25-Mar-2010 Copier -lease rental Lease of prescribed 1 258.00


automation equipment

Page 1 of 25
NO INVOICE NO. VENDOR NAME INVOICE DATE DESCRIPTION TYPE QTY UNIT PRICE
(SGD)
12 H20100029706 Hitachi 25-Apr-2010 Copier -lease rental Lease of prescribed 1 258.00
automation equipment
Lease of prescribed
13 H20100043246 Hitachi 25-May-2010 Copier -lease rental automation equipment 1 258.00

14 H20100057140 Hitachi 25-Jun-2010 Copier -lease rental Lease of prescribed 1 258.00


automation equipment
15 H20100071256 Hitachi 25-Jul-2010 Copier -lease rental Lease of prescribed 1 258.00
automation equipment
16 H20100085335 Hitachi 25-Aug-2010 Copier -lease rental Lease of prescribed 1 258.00
automation equipment
17 H20100099478 Hitachi 25-Sep-2010 Copier -lease rental Lease of prescribed 1 258.00
automation equipment
Lease of prescribed
18 H20100113545 Hitachi 25-Oct-2010 Copier -lease rental automation equipment 1 2,000.00

19 H20100141723 Hitachi 25-Nov-2010 Copier -lease rental Lease of prescribed 1 258.00


automation equipment
20

21

22

23

24

25

26

27

28

29

30

31

Page 2 of 25
NO INVOICE NO. VENDOR NAME INVOICE DATE DESCRIPTION TYPE QTY UNIT PRICE
(SGD)
32

33

34

35

36

37

38

39

40

41

42

43

44

45

46

47

48

49

50

51

Page 3 of 25
NO INVOICE NO. VENDOR NAME INVOICE DATE DESCRIPTION TYPE QTY UNIT PRICE
(SGD)
52

53

54

55

56

57

58

59

60

61

62

63

64

65

66

67

68

69

70

71

Page 4 of 25
NO INVOICE NO. VENDOR NAME INVOICE DATE DESCRIPTION TYPE QTY UNIT PRICE
(SGD)
72

73

74

75

76

77

78

79

80

81

82

83

84

85

86

87

88

89

90

91

Page 5 of 25
NO INVOICE NO. VENDOR NAME INVOICE DATE DESCRIPTION TYPE QTY UNIT PRICE
(SGD)
92

93

94

95

96

97

98

99

100

Page 6 of 25
YA
uipment 2011
2012
2013
2014

t variety registration

- -
Enhanced
Cost YA
Deduction

2011

2011

2011

2011

2011

2011

2011

2011

2011

2011

2011

Page 7 of 25
Cost Enhanced YA
Deduction
2011

2011

2011

2011

2011

2011

2011

2011

- -

- -

- -

- -

- -

- -

- -

- -

- -

Page 8 of 25
Cost Enhanced YA
Deduction
- -

- -

- -

- -

- -

- -

- -

- -

- -

- -

- -

- -

- -

- -

- -

- -

- -

- -

- -

- -

Page 9 of 25
Cost Enhanced YA
Deduction
- -

- -

- -

- -

- -

- -

- -

- -

- -

- -

- -

- -

- -

- -

- -

- -

- -

- -

- -

- -

Page 10 of 25
Cost Enhanced YA
Deduction
- -

- -

- -

- -

- -

- -

- -

- -

- -

- -

- -

- -

- -

- -

- -

- -

- -

- -

- -

- -

Page 11 of 25
Cost Enhanced YA
Deduction
- -

- -

- -

- -

- -

- -

- -

- -

- -

Page 12 of 25
PRODUCTIVITY AND INNOVATION CREDIT SCHEDULE
Company Name: GATEWAY21 Pte Ltd
YA: 2011

Data

TYPE INVOICE DATE DESCRIPTION Sum - CostSum - Enhanced Deduction


External training19-Aug-2010 Seminar-Law & Practice
24-Aug-2010 Seminar-An understanding of customer due diligence & anti-money laundering & counter financ
30-Aug-2010 Course fee for ACTA
6-Sep-2010 Course fee for ACTA
13-Sep-2010 Course fee for ACTA
27-Oct-2010 Course fee for ACTA
2-Nov-2010 Interpret the SWSQ framework, Apply adult learning principles & code of ethics, Prepare & facil
12-Nov-2010 Course fee for ACTA
External training Result
Lease of prescr 25-Jan-2010 Copier -lease rental
25-Feb-2010 Copier -lease rental
25-Mar-2010 Copier -lease rental
25-Apr-2010 Copier -lease rental
25-May-2010 Copier -lease rental
25-Jun-2010 Copier -lease rental
25-Jul-2010 Copier -lease rental
25-Aug-2010 Copier -lease rental
25-Sep-2010 Copier -lease rental
25-Oct-2010 Copier -lease rental

25-Nov-2010 Copier -lease rental


Lease of prescribed automation equipment Result
Total Result
PRODUCTIVITY AND INNOVATION CREDIT REPORT SUMMARY

Business
Name: GATEWAY21 Pte Ltd

Amount
PIC ACTIVITY
(SGD)

Prescribed automation equipment -

Purchase of prescribed automation equipment -


Lease of prescribed automation equipment -

In-house and external training -

In-house training -
External training -

Intellectual property rights acquisition


-

Patents, trademarks, designs and plant variety registration


-

Reseach and development activities


-

Approved design projects


-

Total of qualifying expenses -

Page 14 of 25
Client: GATEWAY21 Pte Ltd

YA: 2011 Ref. No.: PC2011-05-1013


From: 01-01-2010 Date: 12-05-2011
To: 31-12-2010

Amount
PIC ACTIVITY
(SGD)

Total of qualifying expenses -

Estimated Savings From Enhanced Deduction -


OR
Estimated Cash Payout -

Guide for Tax Computation


Tax Deduction Cash Payout
Net Profit Before Tax XXX XXX
Add: Expenditure Converted to Cash - -
Less: Enhanced Deduction - -
Adjusted Profit Before Capital Allowances XXX XXX

Kindly complete and sign this form and mail the original copy to Venture Platform Pte Ltd

My Company, GATEWAY21 Pte Ltd is going for:

Tax Deduction
1 The Client is responsible for including the 'Enhanced Deduction/Allowances' in their tax computation to arrive at the
taxable income to enjoy the benefits of PIC.
2 Please refer to the Sample Form C Appendix (IRIN 301)- page 2 'Section E' for the enhanced deduction amount. Please
copy the figure to your original Form C.
3 Details for each PIC activity is included only for your reference. You may refer to the details in the schedule in
preparing your tax computation and related supporting documents.

Cash Payout
1 Choosing 'Cash Payout' is irrevocable and no claim should be made on the tax return for the qualifying costs to be
converted to cash payout.
2
The PIC Cash Payout Application form must be filled out and signed by authorised person in the company.
-for companies: company director or principal officer or person authorised by the company
-for partnerships: precedent partner

3 The client undertakes to submit their certified statement of accounts together with the income tax returns to IRAS by
filing due date. Otherwise, IRAS may recover the cash payout.
4 The assets for which the business has claimed the cash payout have to be held for at least 1 year. If assets are
disposed within a year, Disposal of Qualifying Assets Form must be submitted within 30 days from the date of
disposal/lease. IRAS may issue a Payout Recovery notice informing you to repay the cash payout.

Note: The 'Estimated Savings From Enhanced Deduction' and 'Estimated Cash Payout' amounts are subject to IRAS approval and any changes in
tax rules and regulations.

Name of Authorised Signatory:

Page 15 of 25
Designation: Signature:

Date:

Page 16 of 25
34000
Productivity and Innovation Credit (PIC) Tax Deferral Form
This form may take you 10 minutes to complete. Please refer to www.iras.gov.sg - PIC Tax Deferral Option before completing this form.

Part A - Taxpayer Particulars


1. For all businesses (including sole-proprietorships & partnerships):
i) Name of business: GATEWAY21 Pte Ltd

ii) Tax reference iii) Accounting


no. of business: 199907299M year-end (DD/MM): 31/12

2. For sole-proprietors only :


i) Full name of ii) Tax reference no.
individual: of individual:

Part B - Details of Tax Deferral


1. Year of Assessment (YA): 2011
2. Mark "X" in this box if this is your subsequent tax deferral for the same YA.
If so, please enter the additional amount of tax to be deferred and the additional claim items below.

3. Amount of Tax to be Deferred: S$ & cts

(Please attach a separate sheet if you need more space.)


Date of Qualifying Cost Incurred
Description of Qualifying PIC
S/N Expenditure PIC Activity
Expenditure
(DD/MM/YYYY) S$ & cts

10

TOTAL PIC Expenditure

Part C - Declaration
1. I elect to defer the tax till the first assessment for the following Year of Assessment is raised and will pay the amount when
IRAS informs me that it is due.
2. I understand that the amount of tax that can be deferred is the lower of the tax payable and the qualifying PIC expenditure
incurred, subject to a cap of $100,000.
3. I declare that I have met the qualifying conditions for PIC claims and that the information given in this form is true and
complete.
4. For partnerships only: I declare that all partners of the partnership agree to the share of tax to be deferred as stated in
Part D - Partners' Tax Deferral.

Full Name of Signature:


authorised person : Date (DD/MM/YYYY):
Designation: Contact number:
34000/2011 Page 1 of 2
34000/2011 Page 1 of 2
30102
FORM IRIN 301/ZZ
#REF!

C Foreign Tax Paid on Foreign Income Received in Singapore

Nature of Income Country Amount of Foreign Tax Paid


(see Note 7)
(see NOTE 3) (see Note 8) S$ & cts

19a 19g 19m

19b 19h 19n

19c 19i 19o

19d 19j 19p

19e 19k 19q

19f 19l 19r

D Exemption on Foreign Dividends, Branch Profits and Service Income Received in Singapore

Nature of Country Headline tax rate Amount of income received in Income subject to Income exempt from
income (%) Singapore tax in the country tax as a result of
(Net of foreign tax paid/ payable) from which it was incentive granted by
received foreign jurisdiction *

S$ (Yes = 1 No = 2) (Yes = 1 No = 2)
(see Note 7) (see Note 8) (see Note 9) (see Note 10) (see Note 10)

20a

20b

20c

* To complete only if "2" is indicated under the column "Income subject to tax in the country from which it was received".

E Productivity and Innovation Credit Scheme (see Note 11)

Total cost incurred Enhanced Deductions/ Allowances


[300%* of qualifying cost (*250% of qualifying
cost for R&D conducted in Singapore)]

S$ S$

Prescribed automation equipment -


21
S19A(2A)/ (2B)/ (2C), S14T
21 0 0

22 In-house and external training - S14R 22 0 0

Intellectual property rights acquisition -


23
S19B(1A)/ (1B)/ (1C)
23 0 0

Patents, trademarks, designs and plant


24
varieties registration - S14A
24 0 0

Research and development activities -


25
S14D, S14DA
25 0 0

26 Approved design projects - S14S 26 0 0

IRIN 301/ZZ (1/2011) Page 2


33000
Productivity and Innovation Credit (PIC) Cash Payout Application Form
This form and annex(es) may take you 10 minutes to complete. Please read the explanatory notes before completing the form.

Part A - Taxpayer Particulars


1. For all businesses (including sole-proprietorships):
i) Name of business: GATEWAY21 Pte Ltd
ii) Tax reference no. of business: 199907299M
2. For sole-proprietors only : (see note 3)

i) Full name of
individual:
iii) Total number of sole-
ii) Tax reference no. proprietorship for which I am
of individual: claiming cash payout:

3. Employee information:
If the business has 10 or less employees (excluding sole-proprietors, partners and shareholders who are directors of
the company) in the last month of the accounting period, please mark "X" in the box.
Please provide details of any 3 local employees for whom the business has made CPF contributions in the last month of
its accounting period.
Name: NRIC:
Name: NRIC:
Name: NRIC:

Part B - Details of Cash Payout Claim


1. Year of Assessment of claim : 2011
2. Accounting period (see note 1) : 01/01/2010 to 31/12/2010
(dd/mm/yyyy) (dd/mm/yyyy)
3. Revenue (S$) (see note 5) :
Mark 'X' in the
relevant box and
4. Qualifying cost to be converted to cash payout* : (see note 4) S$ attach A1 / A2

a) Prescribed automation equipment 0 .00

b) In-house and external training 0 .00 A1 X

c) Intellectual property rights acquisition 0 .00


(Not applicable to sole-proprietorships)
d) Patents, trademarks, designs and plant varieties registration 0 .00

e) Research and development activities 0 .00 A2

f) Approved design projects 0 .00

TOTAL (from a to f) .00


*Please note that the cash payout will be credited to the business/sole-proprietor only after offsetting its outstanding taxes.
Part C - Declaration
1. I declare that the qualifying costs incurred are net of any grants/subsidies.
2. I understand that the election to convert the qualifying cost incurred into a cash payout option is irrevocable.
3. I undertake that no claim will be made in the tax return for qualifying cost to be converted into a cash payout.
4. I declare that the business/businesses is/are still in business operation and has/have met the conditions of employing and
making CPF contributions for at least 3 local employees (excluding sole-proprietors, partners and shareholders who are
directors of the company) in the last month of the accounting period.
5. I declare that I have met the qualifying conditions for all the claims and that the information given in this form and applicable
annexes are true and complete.
Full Name of (see note 6) Signature:
authorised person : Date (DD/MM/YYYY):
Designation: Contact no.:

33000/2011
Under the Singapore Income Tax Act, penalties will be imposed for making a false or incorrect declaration.
For Office Use 1 2

33000/2011
33000/1
Productivity and Innovation Credit Cash Payout Application Form
ANNEX A1
(Prescribed Automation Equipment / Training / Intellectual Property Rights Acquisition / Patents,
Trademarks, Designs and Plant Varieties Registration)
TAXPAYER PARTICULARS
Year of Assessment of claim: 2011

Name of business: GATEWAY21 Pte Ltd

Business tax reference no.: 199907299M

DETAILS OF QUALIFYING PIC EXPENDITURE


Please refer to IRAS website - Businesses > Productivity and Innovation Credit for information on qualifying conditions before
completing this annex.
(Please attach a separate sheet if you need more space. For sole-proprietor making a claim for more than 1 business, please use a
separate sheet for each business.)

Qualifying
Date incurred*
No. Description of Qualifying PIC Expenditure PIC Activity cost incurred
(dd/mm/yyyy)
(in S$)

1 19/08/2010 Seminar-Law & Practice External training 0


Seminar-An understanding of customer due diligence & anti-money
2 24/08/2010 laundering & counter financing of terrorism
External training 0
3 30/08/2010 Course fee for ACTA External training 0
4 06/09/2010 Course fee for ACTA External training 0
5 13/09/2010 Course fee for ACTA External training 0
6 27/10/2010 Course fee for ACTA External training 0
7 12/11/2010 Course fee for ACTA External training 0
Interpret the SWSQ framework, Apply adult learning principles &
8 02/11/2010 code of ethics, Prepare & facilitate classroom training
External training 0
Lease of prescribed
9 25/01/2010 Copier -lease rental automation equipment 0
Lease of prescribed
10 25/02/2010 Copier -lease rental automation equipment 0
Lease of prescribed
11 25/03/2010 Copier -lease rental automation equipment 0
Lease of prescribed
12 25/04/2010 Copier -lease rental automation equipment 0
Lease of prescribed
13 25/05/2010 Copier -lease rental automation equipment 0
Lease of prescribed
14 25/06/2010 Copier -lease rental automation equipment 0
Lease of prescribed
15 25/07/2010 Copier -lease rental automation equipment 0
Lease of prescribed
16 25/08/2010 Copier -lease rental automation equipment 0
Lease of prescribed
17 25/09/2010 Copier -lease rental automation equipment 0
Lease of prescribed
18 25/10/2010 Copier -lease rental automation equipment 0
Lease of prescribed
19 25/11/2010 Copier -lease rental automation equipment 0
20 30/12/1899 0 0.00 0
21 30/12/1899 0 0.00 0
22 30/12/1899 0 0.00 0
* refers to date of purchase/lease of prescribed automation equipment; date of training; date
of acquisition of intellectual property rights; date of filing for registration of patents,
trademarks, designs and plant varieties
33000/1
Productivity and Innovation Credit Cash Payout Application Form
ANNEX A1
(Prescribed Automation Equipment / Training / Intellectual Property Rights Acquisition / Patents,
Trademarks, Designs and Plant Varieties Registration)
TAXPAYER PARTICULARS
Year of Assessment of claim: 2011

Name of business: GATEWAY21 Pte Ltd

Business tax reference no.: 199907299M

DETAILS OF QUALIFYING PIC EXPENDITURE


Please refer to IRAS website - Businesses > Productivity and Innovation Credit for information on qualifying conditions before
completing this annex.
(Please attach a separate sheet if you need more space. For sole-proprietor making a claim for more than 1 business, please use a
separate sheet for each business.)

Qualifying
Date incurred*
No. Description of Qualifying PIC Expenditure PIC Activity cost incurred
(dd/mm/yyyy)
(in S$)

* refers to date of purchase/lease of prescribed automation equipment; date of training; date


of acquisition of intellectual property rights; date of filing for registration of patents,
trademarks, designs and plant varieties TOTAL $
33000/2

Productivity and Innovation Credit Cash Payout Application Form


ANNEX A2
(Research & Development Activities / Approved Design Projects)
TAXPAYER PARTICULARS
Year of Assessment of claim: 2011

Name of business: GATEWAY21 Pte Ltd

Business tax reference no.: 199907299M


Please refer to IRAS website - Businesses > Productivity and Innovation Credit for information on qualifying conditions before completing this annex.
(Please attach a separate sheet if you need more space. For sole-proprietor making a claim for more than 1 business, please use a separate sheet for each business.)

RESEARCH AND DEVELOPMENT ACTIVITIES


Qualifying Qualifying Total qualifying
Date incurred in-house R&D cost outsourced R&D cost incurred
No. Description of R&D project
(dd/mm/yyyy) (in S$) cost (in S$) (in S$)
[A] [B] [A+B]
1

TOTAL $

APPROVED DESIGN PROJECTS


Qualifying Qualifying
Total qualifying
Date of in-house design cost out-sourced design
Application cost incurred
No. approval Description of design project incurred cost incurred
no. (in S$)
(dd/mm/yyyy) (in S$) (in S$)
[A+B]
[A] [B]
1

TOTAL $
Explanatory Notes on completing the
Productivity and Innovation Credit (PIC) Cash Payout Application Form
Important:
The original PIC Cash Payout Application Form must be endorsed by the authorised person and sent to
55 Newton Road, Revenue House, Singapore 307987. Facsimile or photocopy of the application form will NOT be accepted.

1. Submission due date - 15th April for sole-proprietors / partnerships and 30th November for companies
The application form and relevant annexes has to be submitted anytime after the end of your business' accounting year and

before the filing due date of the tax return (i.e. 15th April for sole-proprietors / partnerships and 30th November for companies).
2. Businesses eligible for cash payout
Sole-proprietors, partnerships, companies (including registered business trusts) in business that have employed and made
Central Provident Fund (CPF) contributions for at least 3 employees who are Singapore Citizens/Permanent Residents during
the last month of its accounting period. These employees must not be the sole-proprietors, partners and shareholders who are
directors of the company.

3. For sole-proprietors making claims for more than 1 business


A. Please add all claims and submit 1 application form, after the accounting year end of all the businesses.
When filling in Part B, please complete "Year of Assessment of claim", add "Qualifying cost to be converted to cash payout" for
each activity for all the businesses and fill in the total qualifying costs.
B. Please submit separate annexes for each business.
4. Computation of cash payout
A. For each activity, please fill in the total "Qualifying cost to be converted to cash payout" and complete the relevant annex.
For example, if you wish to convert a total of $10,000 external training costs to a cash payout, please fill in "10,000" in Part B,
item 4 (b) "In-house and external training" and provide details of the external training separately in Annex A1.
B. The cash payout is computed at 30% of the qualifying cost to be converted to cash payout. Businesses can convert :
- a minimum of $400
- a maximum of $200,000 (combined total for the first two years, i.e. YA 2011 and YA 2012) or $100,000 for YA2013.
C. The maximum cash payout is $60,000 (for YA2011 and YA2012 combined) and $30,000 for YA2013. The maximum cash
payout for a sole-proprietor with multiple businesses remains at $60,000 (for YA2011 and YA2012 combined) and $30,000
for YA2013.
D. For businesses incorporated in YA2012, the qualifying cost to be converted to cash payout is capped at $100,000 for YA2012
and the maximum cash payout is $30,000.
E. The assets for which the business has claimed the cash payout have to be held for at least 1 year. If assets are disposed
within 1 year, please file a Disposal of Qualifying Assets Form (available on IRAS website) within 30 days from the date of
lease/disposal. IRAS may issue a Productivity & Innovation Cash Payout Recovery notice informing you to repay the cash
payout.
5. Revenue
Revenue refers to the main income sources of a business as reflected in its profit and loss account. Revenue of a
partnership/sole-proprietorship would be its gross sales.
6. Authorised person
The authorised person(s) who can endorse the form are:
- for companies : company director or principal officer or a person authorised by the company;
- for partnerships : precedent partner;
- for sole-proprietorships : sole-proprietor.

7. Supporting documents to be submitted


A. All businesses (including sole-proprietors and partnerships with revenue less than $500,000) that have applied for cash payout
have to submit their certified statement of accounts together with the income tax returns by the filing due date. Otherwise, IRAS
may recover the cash payout.
B. All supporting documents submitted will be retained by IRAS and businesses are advised to keep a set for their own
reference.
8. Record keeping
Businesses should retain supporting documents such as invoices, approval letters from relevant agencies, CPF Records of
Payment for IRAS' verification.
9. Payment of cash payout
The cash payout will be credited into the business'/sole-proprietor's GIRO account (in IRAS' records) after offsetting its
outstanding taxes. A cheque will be issued if there is no GIRO arrangement. If you do not have a GIRO arrangement with IRAS,
we encourage you to join GIRO to facilitate future payments. Please download the GIRO application form from IRAS' website
and send the completed form to IRAS.

If you require further clarification, please call our helpline at 1800-356 8622 (for companies) /
(+65) 6351 3534 (for sole-proprietorship/partnership) or send an email to picredit@iras.gov.sg.
Visit www.iras.gov.sg for more information on Productivity and Innovation Credit.

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