Forward-looking organisations are characterised by the willingness to upgrade. To assist companies to upgrade, public agencies such as Building and Construction Authority (BCA), SPRING Singapore and Singapore Workforce Development Agency (WDA) have been working consistently and unceasingly with the industry to develop a suite of financial assistance programmes. These programmes aim to help our construction industry stay competitive and ready for new challenges and opportunities:

Scheme	Purpose	Administer by	Aim
Investment Allowance Scheme (IAS)	Technology Upgrading	Building and Construction Authority	Encourage upgrading through investment in modern equipment by providing tax allowance up to 50% of the approved capital expenditure
Training Assistance Scheme (TAS)	Manpower Development	Workforce Development Agency	Support companies to send employees for training
Local Enterprise Technical Assistance Scheme (LETAS)	External Consultancy	SPRING Singapore	Assist SMEs to improve quality management and information technology system by providing assistance to defray up to 50% of cost in engaging consultants
Technology Innovation Programme (TIP)	Technology Innovation	SPRING Singapore	Encourage technology innovation through the development of new products or processes by providing funding to defray cost
MND Research Fund	Research & Development	Building and Construction Authority	Encourage and support applied R&D that will raise the quality of life and make Singapore a distinctive global city

Investment Allowance Scheme (IAS)

	Aluminum Modular Formwork System
Heavy Shoring System	Crawler Mounted Concrete Crusher

The Investment Allowance Scheme administered by BCA for the construction industry was introduced in 1982. IAS helps to accelerate the pace of mechanization through tax incentives. It aims at encouraging capital investment in technologically advanced construction equipment. So, firms investing in modern technologies to upgrade their capability and increase productivity and quality would be able to enjoy a tax rebate of the approved fixed capital expenditure.

Under the scheme, expenditure incurred by Singapore-registered companies on new construction related equipment is eligible for investment allowance at a support level of 50%. The equipment must bring about at least 20% improvement to the project or work trade. The proposed project where the equipment/machinery or tool will be utilised must fall in at least one of the following categories:

• Construction IT;
• Buildability; and
• Quality, environment and safety on a case-by-case basis

To learn how some builders make use of modern construction technologies supported by the Investment Allowance Scheme to improve performance at construction sites, click here.