Tax Tips #1: What is the best way to reduce your income tax this year, be it for personal or company? By Donating to Institute of Public Character (IPC) (check with the non-profit organisation you want to donate to regarding their IPC status) From IRAS website: 1 January 2015 to 31 December 2015 In conjunction with SG50, the Government has decided to increase the tax deduction for qualifying donations from 250% to 300% of the amount of donation made in 2015. The 300% deduction for donations made from 1 January 2015 to 31 December 2015 (both dates inclusive) will be allowed to all existing qualifying donors (i.e. individuals, companies, trusts, bodies of persons, Hindu joint family). Why did I say this is the BEST? Because it is a WIN-WIN. You help others, also help yourself. So it is JOY multiplied. Good ROI :-)...