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Enhanced Funding Support for SME

Under the Enhanced Funding Support and Productivity Innovation Credit, your staff will acquire new skills through training but your company will get to enjoy additional monetary returns*. The more staff your send, the more your company will receive.

As an SME, you enjoy:

  • Higher course fees funding

    SMEs will enjoy subsidies of 90% of the course fees when they sponsor their employees for WSQ courses at CET centres.

  • Increased Absentee Payroll

    SMEs can also claim absentee payroll funding of 80% of basic hourly salary at a higher cap of $7.50 per hour, a significant increase over the current cap of $4.50 per hour.

HOW TO BE ELIGIBLE AS AN SME?

Company’s annual sales turnover of not more than S$100 million OR employment size not more than 200 workers.

How does it work?

If you send your employee for the WSQ course “Apply CAD” which is a 24 hours course, you will receive $219.60 after all the subsidies and rebates. An example of the breakdown is shown as follows:

Breakdown Per Employee You Will Pay You Will Receive
Cost of Nett Course Fee $270.00  
Company can claim back:
*WDA Enhanced funding for SME of additional 20% of the gross fee to claim back via skills connect   $180.00
*Absentee Payroll is 80% of hourly salary capped at $7.50/Hr x 24 Hrs through skills connect   $180.00
Productivity Innovation Credit* (PIC) Cash Payout 60% of $270 (assuming you prefer 60% cash rebate instead of 400% tax rebate)   $129.60
NET GAIN BY COMPANY PER EMPLOYEE $219.60*

* for more information about PIC, please refer to http://www.iras.gov.sg/irashome/PIcredit.aspx