As announced in Budget 2009, Singapore tax residents who make gifts towards NUS in the calendar year 2009 (i.e. 1 January 2009 to 31 December 2009) will enjoy 2.5 times tax deduction. Inland Revenue Authority of Singapore (IRAS) will deduct an amount equivalent to 2.5 times of the value of your gift from your assessable income.

Individual donors do not need to claim tax deduction for gifts in your income tax form if you have given us your NRIC or FIN. NUS will provide your gift details to IRAS and the tax deductions will be included automatically in your tax assessment.

Corporate donors will need to claim tax deduction for gifts using the tax-deductible receipts issued by NUS.

When the tax deduction for the gifts exceeds the income for the year, IRAS allows you to carry forward any unutilised tax deductions for a maximum of five years. For example, if you make a gift in 2008 and the tax deduction you are allowed in Year of Assessment 2009 exceeds your 2008 income, you can carry it forward as far as Year of Assessment 2014.