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Ceiling for Tax Deductible Donations
130.
Charitable institutions give unstinting support to disadvantaged groups. To encourage more generous charitable donations from the business community and the public, I propose to raise the ceiling for tax deductible donations under profits tax, salaries tax and tax under personal assessment from the present 25 per cent to 35 per cent of assessable profits or income. This proposal will cost the Government about $80 million a year.
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