GST Assistance Scheme from Spring Singapore for SME voluntary GST Registration

Please note that the GST Assistance Scheme offered by Spring Singapore has already terminated since June 30th, 2009.

If you are looking for any government grant that helps your small business or for any other financial assistance programme relating to your GST or GST registration, you might be interested to know more about the Accounting Software Assistance Grant (ASAS) offered by the Infocomm Development Authority of Singapore (iDA) and Inland Revenue Authority of Singapore (IRAS).

IRAS and iDA has partnered to assist businesses to improve their financial and book-keeping practices by encouraging businesses to abandon their current method of manual book-keeping or spreadsheet-style accounting and implement a proper accounting software solution. For more information about the Accounting Software Assistance Scheme (ASAS), please visit http://asas.sg.

What Is GST Assistance Scheme?

The GST Assistance Scheme is a two-year assistance scheme to help reduce the compliance costs for SMEs to voluntarily register for GST so that they can claim for the GST incurred on their expenses.

It is an assistance scheme set up by Spring Singapore, catering to the needs of Singapore-based businesses which have opted for voluntary GST registration with IRAS (Inland Revenue Authority of Singapre) and wish to set up or improve their accounting system and processes to be GST-compliant.

The GST Assistance Scheme supports up to 100% of accounting software costs, and 50% of the qualifying costs for the following cost items, subject to a maximum grant of $5,000 per company:

Professional fees and training costs charged by third party IT consultants;
Hardware costs; and
Subscription fees and one time activation charges for a new internet connection

All qualifying costs must be incurred after project commencement or effective GST registration date, whichever is earlier.

Frequently Asked Questions (FAQ)

Are you eligible to apply?
What is the benefit?
How to apply?
Want to know more?
What is GST ??!!

If you have any other enquiries, please contact us and we'll assign our consultant to get in touch with you.