Tax reliefs make Singapore an attractive investment destination. This was raised by Mr Girish Naik, Director of PwC International Assignment Services (Singapore) Pte Ltd. He was speaking at the Invest, Save and Impact Seminar hosted by the National University of Singapore (NUS) at the Suntec City NUSS Guild House recently.
Talking about “Individual investment opportunities and tax reliefs”, Mr Naik said that Singapore is a coveted investment destination thanks to its no capital gains tax policy as well as its pro-business government. The speaker shared expert insights on Singapore tax reliefs for a range of popular investment opportunities such as cash deposits, bonds, unit trusts, real estate and even gifts to charity. He said, “Gifts to an Institution of a Public Character can receive a significant amount of tax relief as there is no cap on the tax deduction amount and the deduction can be carried forward for up to five years.”
Mr Naik’s presentation was followed by a short talk by Ms Angela Chapman, Director (Advancement and Capital Campaign) of the NUS Development Office. She expanded on Mr Naik’s point on donations to Institutions of a Public Character, saying that education should be a vital feature on a charity investment portfolio as it is an investment not just in an individual’s future, but in future generations. She explained how, for example, with the help of tax relief, investors can actually turn a gift of S$10,000 into a gift of S$30,000 when they also give their tax deduction from their gifts to NUS.
The talks were followed by a Question and Answer session with Mr Naik, where ideas on tax efficient ways to invest were exchanged.
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