The following measures to encourage philanthropy and volunteerism were announced as part of Budget 2021 on 16 February 2021:
Extension of 250% tax deduction for donations to IPCs
To continue to encourage giving, the Government will extend the 250% tax deduction for qualifying donations made to IPCs and other qualifying recipients for another two years, i.e. for donations made during the period 1 January 2022 to 31 December 2023 (both dates inclusive).
Extension of Business and IPC Partnership Scheme (BIPS)
To continue supporting corporate volunteerism, the Government will also extend BIPS for qualifying expenditure incurred for services or corporate volunteering for another two years, up to 31 December 2023.
Extension of the Singapore Tote Board (TB)’s Enhanced Fund-Raising Programme (EFR)
The EFR will be extended to provide charities with additional support amidst the weak economic climate, so that they can continue to support their beneficiaries. Together with TB, the Government will continue providing dollar-for-dollar matching, capped at $250,000 per applicant in FY2021 for eligible local charitable causes.
More details on the above measures as well as the links to the relevant websites can be found at this
Annex.
More information on the Budget 2021 Statement may be found at this
link.
