{"id":1380,"date":"2019-12-02T16:25:09","date_gmt":"2019-12-02T08:25:09","guid":{"rendered":"http:\/\/ehluar.com\/main\/?p=1380"},"modified":"2020-01-19T16:45:05","modified_gmt":"2020-01-19T08:45:05","slug":"income-tax-act-income-tax-deduction-for-expenditure-for-services-or-secondment-to-institutions-of-a-public-character-rules-2019-updated","status":"publish","type":"post","link":"http:\/\/ehluar.com\/main\/2019\/12\/02\/income-tax-act-income-tax-deduction-for-expenditure-for-services-or-secondment-to-institutions-of-a-public-character-rules-2019-updated\/","title":{"rendered":"Income Tax Act \u2014 Income Tax (Deduction for Expenditure for Services  or Secondment to Institutions of a Public Character) Rules 2019 updated"},"content":{"rendered":"\n<p>On or about 2 December 2019, the <em>Income Tax Act \u2014 Income Tax (Deduction for Expenditure for Services  or Secondment to Institutions of a Public Character) Rules 2019 <\/em>was updated on the Government <em>Gazette<\/em>. <\/p>\n\n\n\n<p>The  rules are the Income Tax (Deduction for Expenditure for Services or  Secondment to Institutions of a Public Character) Rules 2019 and came  into operation on 2 December 2019.<\/p>\n\n\n\n<p>It seeks to broaden the scope of the Business and IPC\nPartnership Scheme (\u201cBIPS\u201d) under section 14ZB of the ITA.<\/p>\n\n\n\n<p>Under BIPS, businesses can claim a 250% tax deduction on\nbasic wages and related expenses incurred when their employees volunteer or\nprovide services to IPCs, subject to the IPCs\u2019 agreement.<\/p>\n\n\n\n<p>The Income Tax Act has been amended to:<\/p>\n\n\n\n<ol class=\"wp-block-list\"><li>allow businesses to claim tax deduction for wage expenditures of all employees, including part-time employees, when employees volunteer;<\/li><li>allow businesses the additional option to claim tax deductions for wage expenditures based on fixed hourly rates for general or skills-based volunteerism rather than the actual wage expenditure incurred when employees volunteer<\/li><\/ol>\n\n\n\n<p>The amendments will take effect from the YA 2020.<\/p>\n\n\n\n<p>Source: Singapore Status online, 2 December 2019 <\/p>\n","protected":false},"excerpt":{"rendered":"<p>On or about 2 December 2019, the Income Tax Act \u2014 Income Tax (Deduction for Expenditure for Services or Secondment to Institutions of a Public Character) Rules 2019 was updated on the Government Gazette. The rules are the Income Tax (Deduction for Expenditure for Services or Secondment to Institutions of a Public Character) Rules 2019 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","_et_pb_use_builder":"off","_et_pb_old_content":"","_et_gb_content_width":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8,6],"tags":[],"class_list":["post-1380","post","type-post","status-publish","format-standard","hentry","category-incometax","category-techupdates"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/posts\/1380","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/comments?post=1380"}],"version-history":[{"count":1,"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/posts\/1380\/revisions"}],"predecessor-version":[{"id":1381,"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/posts\/1380\/revisions\/1381"}],"wp:attachment":[{"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/media?parent=1380"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/categories?post=1380"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/tags?post=1380"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}