Yes. Cash donations to approved Institutions of a Public Character (IPCs) and certain other approved recipients (such as the Singapore Government) qualify for a 250% tax deduction – every S$1 donated reduces your taxable income by S$2.50. This enhanced rate applies to qualifying donations made up to 31 December 2029.
Besides cash, donations of publicly listed shares, land and buildings, approved artefacts and computers can also qualify, subject to conditions. The donation must be outright with no material benefit received in return; where a benefit is given, only part of the donation may qualify, or it may not qualify at all.
Donations to a registered charity that is not an approved IPC are not tax deductible, so check the recipient's IPC status first. Approved IPCs issue a tax deduction receipt and usually transmit the details to IRAS, so the deduction is granted automatically. If your qualifying donations exceed your income for the year, the excess can generally be carried forward for up to five years.
Apexia can confirm whether a proposed donation qualifies and ensure the deduction is captured correctly in your tax computation.