You may deduct charitable contributions of money or property made to qualified organizations if you itemize your deductions. Generally, you may deduct up to 50 percent of your adjusted gross income, but 20 percent and 30 percent limitations apply in some cases.

Can you deduct the value of donated services?

As a result, donated services are not tax-deductible at all for businesses or individuals. Other types of donations, such as products, inventory, and cash donations, can be deducted. Businesses should use the fair market value of those donations when including them on their tax returns.

Are there any tax deductions for donation of computers?

As announced in Budget 2017, tax deduction scheme for donation of computers will be withdrawn with effect from 21 Feb 2017. A company that donates computers to prescribed educational, research or other institution in Singapore and IPC on or after 21 Feb 2017 would not be eligible for any tax deduction.

How often can I make a Microsoft donation?

For core based servers, you can order a total of 25. There is no limit to the number of times an organisation can make a Microsoft donation request within the two-year cycle as long as they have not used up their full 10 title Entitlement. After two years, a new cycle begins, and the Entitlement is reset.

Are there any donations that are not tax deductible?

Donations under any of the approved donation programmes where the IPC or approved beneficiary acknowledges the donation by including the donor’s name or logo in the IPC’s collaterals (e.g. banners, publications, advertisements). These donations are not tax deductible:

What was the tax deduction for donations in 2015?

In conjunction with SG50, the Government has increased the tax deduction for qualifying donations from 250% to 300% of the amount of donation made in 2015.