A tax incentive scheme is to be introduced for qualifying donors with family offices operating in Singapore, offering donors 100 per cent tax deduction, capped at 40 per cent of the donor's statutory income, for overseas donations made through qualifying local intermediaries. Donors must have a fund under the s.13O or 13U schemes, which provide a tax exemption on ‘specified income’ derived from ‘designated investments’. They must also meet eligibility conditions such as incremental business spending of SGD200,000.

News Source：【Singapore Ministry of Finance】