Are Singaporeans becoming less charitable? Statistics show 5 year low in charitable tax deductions
The annual report of the Singapore Commissioner of Charities showed that the amount of tax-deductible donations made to charities in Singapore fell to SGD $866 million, while the figure is substantial, this is the lowest figure in the last 5 years. This equated to a 34% reduction from 2015’s SGD $1,362 million.
The reason for the drop could be attributed to the current economic uncertainty, where people are calculating their dispensable income at a lower rate in Singapore. Officials are also stating that people are not becoming less charitable, more so that the tax deduction reverted to 250% after the 300% tax deduction during Singapore's golden jubilee in 2015.
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