Greenit's director jailed for false claims under Productivity and Innovation Credit Scheme
A director of IT firm Greenit was sentenced to eight weeks in jail for fraudulently claiming a Productivity and Innovation Credit (PIC) cash payout of $58,143 for his company.
This is the first such prosecution since the scheme was introduced in 2010.
Khoo Tzyh Shin, 34, was also ordered to pay a penalty of $232,574, or four times the payout fraudulently claimed. Greenit was fined $10,000 and ordered to pay the same penalty.
The PIC scheme gives tax deductions or cash payouts to firms if they take steps to boost productivity. This includes automation and training.