30 Nov '15, 3pm

#singapore

#singapore

SINGAPORE — Nine in 10 homeowners here will pay lower property tax next year, as annual values (AVs) derived from estimated rents of both public and private housing fell, the Inland Revenue Authority of Singapore (IRAS) said in a statement issued today (Nov 30). IRAS said all Housing and Development Board (HDB) flat owners will pay lower or no property tax next year, while eight in 10 private homeowners (259,000) will pay lower property tax when the revised AVs take effect from Jan 1, 2016. IRAS did not reveal the extent of the reduction in AVs, but said it will result in tax savings in the range of 9 per cent to 24 per cent for HDB flat owners. In particular, 28,200 owners residing in their HDB three-room flats will not have to pay any property tax, along with all one- and two-room flat owners who will continue to be exempted from property tax payment. Taxes will also be ...

Full article: http://www.todayonline.com/singapore/9-10-homeowners-pay-...

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