Written reply to Parliamentary Question on impact of the tax incentive conditions under the Income Tax Act and Philanthropy Tax Incentive Scheme

Why this matters

This is a written parliamentary reply explaining the Government's position on tax incentive tracking for family offices under existing schemes. It confirms that MAS does not track social contributions from SFOs, provides statistics on PTIS recipients and donations channelled (8 approved recipients, S$30M+ in 2024-2025), and notes employment benefits. The content is informational and clarificatory rather than introducing new binding obligations, consultation periods, or enforcement actions. It addresses family office philanthropy and tax incentives, which are relevant to wealth management and ESG/sustainability topics, but represents routine policy communication rather than a material regulatory development.

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