The application and institutional details
This two-page specimen supports an application for the Tax Deduction Scheme for Grantmakers. It identifies the institution, authorised signatory, designation, signature and date. The undertaking confirms that the institution is an approved non-profit organisation for section 13R purposes OR a charity registered under the Charities Act. Complete those declarations as actual facts, not merely because the specimen contains them.
Separate fund, onward grants and receipts
Clauses (b) and (c) require a segregated fund for IPC donations and tax-deduction receipts only for qualifying donations, with funds disbursed onward within five years. Keep received donations and disbursements separately traceable. Issuing a receipt and making an onward grant are distinct compliance steps; the five-year condition cannot be replaced by an unspecified eventual donation.
The penalty and dissolution deadline
Clause (d) states a penalty equal to 0.4 × (A + B): A is the donation amount for which deduction was incorrectly granted or not properly due, and B is the donation amount for which deduction was granted but which was not disbursed within five years. Do not interpret this as 40% of every donation automatically. Clause (e) requires any fund balance on dissolution to be transferred to an IPC within one month.
Controls, seven-year records and annual reporting
Clauses (f)–(h) require proper operating procedures, records of donor identity, donation date, donation amount and receipt amount retained for at least seven years, and annual prescribed reporting to IRAS of donations received and disbursed. The record-retention obligation here is seven years; a different tax guide’s shorter period is not a substitute.
Independent audit and submission
Clause (i) requires an annual external audit and submission of the auditor’s report and financial statements within one month of the report date. Record the report date separately from the financial year-end. The specimen’s named officer and contact are historical document details, not confirmation of who currently handles applications.
Official source
This article independently explains the substantive contents of the official PDF, including the relevant conditions, procedures and annexes. The linked document remains the authoritative source for its original wording, and later changes should be checked separately.
Read the official PDF ↗