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Where to Sell or Donate Your Preloved Items in Singapore

If your wardrobe is bursting or your shelves are stacked with items you no longer need, it may be time to let them go. Be it making some extra cash, helping others, or reducing waste, there are many responsible ways to declutter in the Lion City.

This guide covers where to sell, donate, or recycle your gently used clothes, shoes, accessories, and household goods.

SELL YOUR PRELOVED ITEMS

Reselling them might be your best option if you have branded clothing, trendy accessories, or household items in good condition. Not only do you declutter, but you might even earn back some of your original investment.

a. ONLINE MARKETPLACES

Digital platforms like Facebook Marketplace, Carousell, and Poshmark allow you to connect directly with buyers. These are perfect for items with niche appeal, trendy fashion pieces, or gadgets.

Simply snap a few photos, write a description, and set your price. You’ll get to negotiate directly with interested buyers and arrange for delivery or pickup at your convenience.

b. REFASH

This local fashion resale brand is a favorite among Singaporeans. REFASH buys trendy women’s clothing and sells them at affordable prices across its brick-and-mortar stores.

Drop your items off at outlets such as Bugis Junction, Wisteria Mall, or Tiong Bahru Plaza. You’ll receive cash or credits to spend in-store. REFASH is a great place to find lightly worn apparel that’s still in season or style.

c. NEW2U THRIFT SHOP

Tucked within the Singapore Council of Women’s Organisations building, New2U is a charitable thrift store with a heart. It accepts clothes, books, accessories, and household items. Proceeds go toward funding women’s and children’s programs.

Shoppers (including my friends) love it for its hidden gems and affordable prices, and donors appreciate that their items support meaningful causes.

d. CASH CONVERTERS

This well-known resale chain buys just about everything: electronics, musical instruments, kitchen gadgets, tools, and fashion items. You can bring your preloved goods to one of their many locations and receive immediate cash offers. Their outlets include: Joo Seng Road (E-Commerce Centre), Ang Mo Kio Avenue 8, New Bridge Road at Chinatown Point, Jurong Gateway Road, Tampines Avenue 1, Toa Payoh Lorong 4 (i.e., the one I usually explore).

Each location features a huge selection of used goods, and it’s a go-to spot for savvy bargain hunters.

DONATE TO THOSE IN NEED

Image Credits: unsplash.com

Prefer to pass your items on as a blessing to someone else? Donation is a fulfilling way to do so.

a. THE SALVATION ARMY

With a long-standing presence in Singapore, The Salvation Army accepts clothing, furniture, household goods, toys, and more. These donations are sold at Family Stores, with proceeds supporting community care programs, including services for the elderly, children, and vulnerable individuals.

Drop-off points include: Tanglin Family Hub, The Haven, Praisehaven, Hope Centre, and IMM.

b. MINDS SHOP

Operated by the Movement for the Intellectually Disabled of Singapore, these thrift stores offer more than resale. They provide vocational training and employment for persons with intellectual disabilities. Donated items are sorted, priced, and sold by MINDS trainees, giving them essential skills and opportunities.

You can drop your donations at Margaret Drive, 800 Margaret Drive or Woodlands, 30 Woodlands Ring Road.

c. H&M GARMENT COLLECTING PROGRAM

This global initiative encourages customers to recycle their unwanted clothes from any brand and in any condition. Simply bring them to any H&M outlet in Singapore. Locations include: ION Orchard, JEM, NEX, Kallang Wave Mall, and VivoCity.

You’ll receive a discount voucher as a thank-you, and the clothing is either reworn, repurposed, or recycled into insulation materials or new textiles. I can attest to this as I’ve tried it myself.

d. GREENSQUARE

Focused on textile recycling, Greensquare collects items directly from homes and also operates drop-off points. They accept clothes, household linens, bags, and shoes in any dry condition. Items are sorted and sold to secondhand importers in developing countries, promoting a circular economy.

Key drop-off spots include: Alexandra Technopark, Fusionopolis One and Two, NUS Utown Residence, The Green Collective at Funan, and Viva Business Mall.

e. ITSRAININGRAINCOATS

Focused on uplifting Singapore’s migrant workers, this nonprofit operates the inspIRRe store, where workers can shop for free. Donations should be in excellent condition and include:

Men’s apparel and footwear
Luggage, duffel bags, and backpacks
Sports gear, water bottles, and accessories
Small appliances like rice cookers or power banks

It’s located at 470 Upper Paya Lebar Road.

g. SG MUMMIES UNITED

What began as a humble Facebook group during the 2020 circuit breaker has grown into a bustling blessings community. The group connects struggling mothers with those who can offer help. Common donation items include: diapers, baby formula, baby gear and toys, secondhand children’s clothing, and books.

Requests are posted daily, and you can respond directly to offer what you have. Join their Facebook group to participate.

Image Credits: unsplash.com

What are you waiting for? Let your preloved items find a second life!

Sources: 1,2, & 3

Surefire Ways To Save Money On Your Next Income Tax

Anyone who takes part in trade and business is chargeable with tax. It is known that tax rates in Singapore are relatively lower compared to other countries in the world, making it more attractive for individuals and corporations to participate in some form of exchange in business.

Despite the relatively lower tax rates, no one entirely enjoys the act of filing for taxes! This is why you must employ creative ways to save on your next income tax. Consider these suggestions:

1. TAKE PART IN SUPPLEMENTARY RETIREMENT SCHEME

The Supplementary Retirement Scheme (SRS) is part of the government’s financial strategy to help Singaporeans increase their saving as they age. It is a type of retirement savings scheme that is voluntary, where anyone who has an SRS account may contribute any amount they want, which is still subject to a cap. The maximum contribution is capped at S$15,300 in 2016, a slight increase of S$2,550 from last year’s cap.

The more you save for your retirement using the SRS, the less you pay for your income tax. That being said, two apparent benefits are seen when contributing to SRS. The first being, for every dollar contributed to your account, taxable income will be reduced by a dollar. The second being, 50% of your SRS savings will not be taxed. Additionally, you are eligible to spread your withdrawals over a 10-year period.

2. HIT TWO BIRDS WITH ONE STONE

Fulfill your duty as a steward of goodwill and your duty as a responsible citizen by donating in accredited institutions. Several forms of donation are claimable. The following types of donations will qualify you for a double tax deduction (twice the amount of the donation):

a. Cash Donations
b. Shares Donations
c. Computer Donations
d. Artefact Donations
e. Public Art Tax Incentive Scheme
f. Land and Building Donations

For instance, a donation to the Singapore museums that have obtained the Approved Museum Status with the National Heritage Board is tax deductible.

Related Article: Basic Guide To Taxation In Singapore

3. REAP THE BENEFITS OF CPF CASH TOP-UP RELIEF

If you are interested in increasing not only your retirement savings but also the retirement savings of your loved ones, you might want to consider the CPF Retirement Sum Topping-Up Scheme.

You will be entitled to a dollar-for-dollar tax relief at a maximum of S$14,000 per annum. This entails a cap of S$7,000 for the individual and another S$7,000 for the family members (T&Cs apply).

Image Credits: pixabay.com

Paying income tax can be painful to your wallet. This is why you must take advantage of the many ways to claim tax relief or rebates.

Sources: 1, 2, & 3

5 Tax Deductibles You Need To Know

Each year, hundreds of tax deductions and credits may go unclaimed due to the lack of taxing knowledge. To prevent that, here are 5 Tax Deductibles You Need To Know based on the Inland Revenue Authority of Singapore.

FOR THE EMPLOYEE

1. EMPLOYMENT EXPENSES

A good news for all employees—employment expenses can be claimed as long as they satisfy these three conditions:

a. Expenses are sustained when carrying out official duties.
b. Expenses are not reimbursed by the employer.
c. Expenses are not private in nature.

For instance, traveling expenses on public transportation that are not reimbursed by the company may be deducted from the tax. Also, entertainment expenses that occurred while pleasing the clients may be deducted from the tax.

FOR THE EMPLOYER

2. STARTUP TAX EXEMPTION (SUTE)

A start-up company, have enough financial worries in your plate. What should you do then?

Take on the SUTE. Suited by SUTE, a start-up company that meets the required conditions can claim for full tax exemption on the first S$100, 000 of normal chargeable income for each of its first three consecutive years.

3. CORPORATE TAX INCOME REBATE (CTIR)

Since 2013, all Singapore companies are eligible to take on the CTIR. No! There is no catch. This scheme aims to help companies to cope with the rising costs in businesses. Suited by CTIR, companies will receive 30% rebate or up to S$30, 000 off the tax bill from 2013-2015.

OTHERS

4. ANGEL INVESTORS TAX DEDUCTION SCHEME

Be an angel, invest in start-up companies in Singapore to receive a huge tax benefit from the Angel Investors Tax Deduction Scheme.

Enjoy 50% tax deduction on the investment costs at the end of a two-year holding period. This is up to S$500, 000 of investments in each Year of Assessment. Investments made from March 1, 2010 until March 31, 2015 are eligible for this scheme.

5. DONATIONS

Want to double your tax deduction? Be generous and donate in all forms. The following types of donations will qualify you for a double tax deduction (twice the amount of the donation):

a. Cash Donations
b. Shares Donations
c. Computer Donations
d. Artefact Donations
e. Public Art Tax Incentive Scheme
f. Land and Building Donations

For instance, a donation to the Singapore museums that have obtained the Approved Museum Status with the National Heritage Board is tax deductible.

Image Credits: TaxCredits.net via Flickr

Equipped with these tax deduction knowledge, prepare to be impressed with your managed taxes now!

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