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Enjoy tax deductions of up to 2.5 times the qualifying donation amount during the next tax season when you donate to Community Chest or any approved Institution of a Public Character (IPC) before the year ends. On this page: What are tax deductible donations. What are non-tax deductible donations.
Find out more about tax deductions for donations made to qualifying grantmaking philanthropic organisations (‘Grantmakers’). Donations & Tax Deductions Find out more about the different types of donations and their respective tax deductibility, as well as how to claim these tax deductions.
To calculate your individual net income tax payable from making a donation, follow these simple steps: 1. Click here to download the IRAS Income Tax Calculator. 2. After filling in your income, personal reliefs, and rebate (s), enter your donation amount (multiplied 2.5 times).
2 mar 2023 · 2.1 IPCs and Grant-makers may use this guide to determine whether the contribution which they receive should (a) be regarded as a donation or sponsorship, and (b) if the contribution is considered a donation, whether the donation qualifies for enhanced tax deduction for income tax purposes.
Individuals and corporations can claim tax deductions for donations made to any approved charity with IPC status in Singapore that are registered with the Commissioner of Charities (COC) and which have been granted tax-exempt status by IRAS.
Donations of S$50 and above are eligible for tax deduction. The tax-deductible rate is 2.5 times the donation amount. Example: If you have made a S$100 donation to us, you will be eligible for a S$250 (2.5 times the donation amount) tax deduction for tax relief.
26 gru 2023 · IRAS Tax Calculator: The Inland Revenue Authority of Singapore (IRAS) provides an online tax calculator where you can input your taxable income and donation amounts to estimate your tax payable. Giving.sg: A Gateway to Make Charitable Giving A Win-Win
