04 Dec '11, 12am

Dear IRAS, why should rising HDB rents mean I pay more property tax? Isn't that's what tax on capital gains is for?

Dear IRAS, why should rising HDB rents mean I pay more property tax? Isn't that's what tax on capital gains is for?

Rising rents of HDB flats have led to an increase in their market values, which in turn are attracting a higher property tax for next year. -- ST PHOTO: JOYCE FANG By Yen Feng Rising rents of HDB flats have led to an increase in their market values, which in turn are attracting a higher property tax for next year. But most HDB flat owners may be paying only a marginal increase, after a government rebate for lower- and middle-income households. For such households, the Government will give a one-off rebate of $55 to offset some of the increase in property tax. This rebate, however, does not apply to flats that are not owner-occupied. Related Links Property tax changes for HDB homes The Inland Revenue Authority of Singapore (Iras) made this announcement last Friday, as the annual values (AVs) of HDB flats are to be revised next year, reflecting the rise in market values. Ple...

Full article: http://www.straitstimes.com/BreakingNews/Singapore/Story/...

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