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Donate to Community Chest or any approved Institution of a Public Character (IPC) for causes that benefit the local community and lower your tax payable. For every $1 donated to an approved IPC, $2.50 will be deducted from your taxable income next year.
2 mar 2023 · 1.1 This e-Tax Guide sets out what contributions made to an Institution of A Public Character (“IPC”) or a Grant-Making Philanthropic Organisation (“Grant-maker”) are considered donations and eligible for tax deduction under the Income Tax Act 1947 (“ITA”); and the differences between donations and sponsorships.
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.
Tax Deductibility of Donations. Please visit the Inland Revenue Authority of Singapore (IRAS) website for more information on the various types of donations which will qualify for tax deduction. Charity Portal Singapore Homepage.
This e-Tax Guide sets out the concessionary tax treatment for cash donations made on or after 19 March 2021, with certain benefits received in return and is relevant for Institutions of Public Character (IPCs) or a registered charity [hereinafter “Charity”].
It is eligible for cash donations made by qualified Single Family Offices in Singapore for any charitable, benevolent, or philanthropic purpose to benefit persons, events, or objects outside of Singapore.
Yes, donations to Caritas Singapore qualify for 250% tax deduction. You do not need to declare the donation amount in your income tax return. Tax deductions for qualifying donations will be automatically reflected in your tax assessments based on the information from Caritas Singapore.
