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Property tax favours investors?
To add to the letter “Make property tax fairer” (July 13), it seems that the law favours property investment to owner occupation. Mortgage interest and expenses for repairs and maintenance can be used...
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Avoid use of ‘property types’ to sharpen tax
I refer to the letter “Make property tax fairer” (July 13). There are two ways to go about having a property tax: One is to fix the tax on the property’s capital value, and the other, on the rental...
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Foreigners adjust budgets to buy Singapore properties
Foreign buyers of Singapore properties have not totally fled the market, despite the higher taxes that they have to pay following tough cooling measures. More are finding it worthwhile to adjust their...
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Taxman collects $1.03 billion in ABSD
Singapore recorded a significant hike in tax revenue due to the additional buyer’s stamp duty (ABSD) introduced in January, reported The Straits Times. The Inland Revenue Authority of Singapore (IRAS)...
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Court ruling creates uncertainty for developers
In a landmark ruling last month, the Court of Appeal overturned a High Court decision and affirmed the right of the Chief Assessor to raise the annual land value for the Sail@Marina Bay site from the...
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Annual value of properties reviewed regularly
In his commentary, “Court ruling creates uncertainty for developers” (May 10), Mr Colin Tan seemed to suggest that the Glengary case was the first time the Inland Revenue Authority of Singapore had...
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Why does IRAS make ‘provisional’ tax deductions?
While doing a check of my bank account, I realised deductions were made this month by the Inland Revenue Authority of Singapore (IRAS) under its GIRO scheme. The sum deducted was the same as my monthly...
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Frustrated agent starts petition
One Singapore real estate agent has launched an online petition in a bid to force consumers to pay the GST on their rental fees. Jason Lim of Vestor Realty is one of a growing number of Singapore real...
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Agent petition gathers support
Almost 200 Singapore real estate agents have now signed an online petition to make the payment of GST mandatory on their deals. The petition to Council for Estate Agencies (CEA) President Greg Seow was...
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CEA: We cannot force GST payments
Singapore’s Council for Estate Agencies (CEA) has confirmed that it does not have the power to force consumers to pay GST on commission fees charged by real estate agents. In an email sent to all...
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GST petition hits 300 supporters
An online petition directed at Council for Estate Agencies (CEA) President Greg Seow to make it mandatory for GST to be paid on agents fees has now attracted 300 signatures. Launched 10 days ago by...
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Stamp Duty for Lease
With effect from 22 Feb 2014 To ensure consistency in stamp duty treatment across leases of different lease periods, the basic of calculation has been changed. Lease with Average Annual Rent (AAR)...
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Cooling measures have been effective
The curbs imposed by the government from 2009 to 2013 have not only controlled the property bubble, they were also an important complement to monetary policy, said the Monetary Authority of Singapore...
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980 buildings exempted from property tax
The Inland Revenue Authority of Singapore (IRAS) granted full or partial property tax exemptions to 980 buildings in 2013 from 650 buildings in 2000, according to media reports. Uncollected taxes from...
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Govt unlikely to remove curbs soon
Home prices are likely to fall further before the government rolls back the property cooling measures which were imposed since 2009, according to Standard Chartered in media reports. “You would start...
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Additional Buyer’s Stamp Duty (ABSD) for Married Couples
Inland Revenue Authority of Singapore (“IRAS”) informed that there had been instances of wrong advice given by salespersons to buyers. Some salespersons had advised their buyers that they could qualify...
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Is the time ripe to lift property cooling measures?
IT IS clear from a visit to showflats that the property market is a pale shadow of itself from a year ago, when the boom was in full swing. Back then, agents streamed in with home seekers in tow, cost...
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Lower property tax in 2016
Homeowners in Singapore will benefit from paying lower property taxes in 2016 compared to this year, revealed the Inland Revenue Authority of Singapore (IRAS). This is due to the reduced Annual Values...
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MP urges removal of ABSD for Singaporeans
Should a citizen who can afford to buy a second or third property through the Total Debt Servicing Ratio (TDSR) regime also be required to pay the Additional Buyer’s Stamp Duty (ABSD)? This was a...
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Woman charged with giving fake stamp certificates
A 50-year old woman was charged with using counterfeit stamp certificates. The Inland Revenue Authority of Singapore (IRAS) on Friday pressed four charges on Koh Siew Buay for offences under the Stamp...
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