Corporate Grants

There are various corporate grants available for those who wish to send their employees for further skills training and upgrading. Two of them come from the Workforce Development Agency (WDA); the Absentee Payroll Funding, and the Enhanced Training Support for SME’s. The last comes from the Inland Revenue authority of Singapore (IRAS), namely the Productivity and Innovation Credit Scheme (PIC).

These grants allow companies to do various things:

Under the Absentee Payroll Funding, employers are able to defray the manpower costs incurred when they send their employees for certifiable skills training during working hours. For training conducted outside working hours, the grant is meant to alleviate the opportunity costs incurred by the employees. Hence, the funding is to be paid to the employees together with the mandatory top-up by the employer.

Under the Enhanced Training Support for SME’s, the scheme aims to encourage SME’s to continue to upskill their employees, while achieving financial objectives. The funding will encourage SMEs to invest in Continuing Education and Training (CET) to maximise their manpower and enhance productivity.

Under the Productivity and Innovation Credit scheme, companies can defray the costs incurred to provide training to employees for the purposes of the trade and business, and can include both training conducted by the business’ personnel or by external trainers. This occurs through a 400% tax deduction or allowance and/or a 60% cash payout for the investment made.

For more information on these grants, you may refer to the following links below,