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Forum General How to utilize charitable donations for individual income tax deductions

Forum General How to utilize charitable donations for individ...

Forum General How to utilize ch...

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  • #1360
    MS
    MoneySmart Singapore
    Participant

    Posts: 31

    Joined: Jun 27, 2014

    Expert

    Hi, it depends on which Charity you are donating to. Certain ones will have an automatic function of tax relief when you donate, and in such cases you do not have to do it manually. Other charities may have you fill in a form which you keep a copy of, and when you do your taxes in Apr, you have to manually indicate the amounts donated and the deduction is then assessed by IRAS. Donating to charities is always a worthwhile cause when it benefits the less fortunate 😉

  • #2775
    EF
    Excelsior Investors Finance
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    Joined: Jul 14, 2017

    Beginner

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