Circular No: CSR/183/08/WM
12 August 2020
CONTRIBUTIONS TO THE SCAL COVID-19 FUND ELIGIBLE FOR 250% TAX DEDUCTION!
The Singapore Contractors Association (SCAL) launched the SCAL COVID-19 Fund in May this year to help the construction sector ride through the COVID-19 pandemic. The Fund aims to provide eligible member firms with temporary relief to ease their financial difficulties. To date, about 200 SME members had received assistance from this Fund. This would not have been possible without the kind contributions from our members and business associates.
We are pleased to announce that the SCAL COVID-19 Fund is now inaugurated as part of the SBF Foundation (SBFF) industry-led Compassion Fund. This enables members’ contributions to the SCAL COVID-19 Fund to be eligible for 250% tax deduction. The 250% tax deduction will apply retrospectively to contributions made previously to the Fund.
We cordially invite members who have yet to contribute to the SCAL COVID-19 Fund to do so and enjoy the 250% tax deduction. Members who have previously contributed to the Fund may also wish to consider topping-up their contributions.
All contributions to the SCAL COVID-19 Fund should reach SCAL before 30 August 2020, to be eligible for this 250% tax deduction.
Members can contribute using these payment options:
a) Transfer via FAST or normal bank transfer to The Singapore Contractors
Association Ltd, OCBC bank account number 524-023173-001, indicating “SCAL
COVID-19 Fund” clearly in the transfer details
b) Transfer via PayNow Corporate to The Singapore Contractors Association Ltd,
using the QR code at this link, indicating “SCAL COVID-19 Fund” clearly in the
c) Send a cheque made payable to The Singapore Contractors Association Ltd with
the name of your company, contact details, and “SCAL COVID-19 Fund” indicated
clearly at the back of the cheque, and mail it to Construction House, 1 Bukit Merah
Lane 2, Singapore 159760
Your generous support will go a long way in helping fellow members remain in business as part of an important link in the construction value chain.
For more information and enquiries, please contact us at telephone number 6278 9577 or e-mail address email@example.com
We look forward to your generous support towards the SCAL COVID-19 Fund.