30 Jan '14, 3am

Quick recap on property tax changes for 2014 and 2015, as previously announced in budget 2013

Quick recap on property tax changes for 2014 and 2015, as previously announced in budget 2013

Property Tax Singapore – for 2014 and 2015 In Singapore Budget 2013, it was announced that there will be some changes to the Property Tax system in Singapore. The Government has proposed a new progressive property tax system – raising property tax rates for high-end residential properties in Singapore, whilst allowing the majority of home owners to enjoy lower property tax rates. The property tax structure in Singapore will be changed over two years, 2014 and 2015. Property Tax changes 2014 and 2015 For owner-occupied properties, e.g. a 5-room HDB flat with Annual Value of $12,000, the change is about 33% decline in property tax payable, whereas a typical condominium unit in central area (with estimated $70,000 Annual Value) will see an increase of about 5% to the property tax. What is Annual Value? In short, for most properties, the estimated annual rent if it were rented...

Full article: http://www.singaporerealestate.info/property-tax-singapor...

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