GST Assisted Compliance Assurance Programme (ACAP)
The IRAS provided $10m in aggregate of co-funding for the ACAP. A total of $8m has been fully taken up and the next available tranches of $2m will be co-funded only as follows:
Funding amount Application period Qualifying period
$1m From 1 April 2013 1 April 2013 to 31 March 2014
$1m From 1 April 2014 1 April 2014 to 31 March 2016
In other words, if you have been thinking about starting ACAP this year and have not applied, there will be no co-funding available for the work by the IRAS. However, funding will be available if you apply from 1 April next year till 31 March 2016, or until the funds are taken up, whichever is earlier.