07 Mar '13, 3pm

New: Singapore Property News This Week #93

The latest tax structure announced on Feb 25 could benefit shoebox units. Under the new structure, the first $8,000 annual value (AV) will not be subject to taxes compared to the current threshold of $6,000 AV and the tax rate for the next $47,000 AV will remain at 4%. Since most such shoebox units have annual gross rental of less than $55,000, they are likely to be subject to lower taxes under the new policy. However, homes bought for investment purposes will see higher taxes imposed since the property tax rate for non-owner-occupied residential properties and vacant residential properties is now more than twice the rate for owner-occupied properties, assuming similar AV. High-end homes will see not only higher property tax rates since most have a gross annual income exceeding $55,000 but also the increased ABSD rates. Most HDB flats however, are unlikely to be affected b...

Full article: http://www.propwise.sg/singapore-property-news-this-week-93/

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New: Singapore Property Weekly Issue 93 now out

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