Property Tax in Singapore

Property tax is a wealth tax which you have to pay for holding any property in Singapore. This is completely different from the stamp duty fee. You are required to pay tax for both the transaction of purchasing property, and for holding on to it.

Change Of Property Tax Structure

The Government announced the introduction of progressive property tax rates for all residential properties from 1 Jan 2014 and 1 Jan 2015.

Sources : Inland Revenue Authority of Singapore (IRAS)

A) Progressive Tax rates for Owner-occupied residential property
Annual Value
Tax Rates from 1 Jan 2014
Tax Rates from 1 Jan 2015
First $8,000
0%
0%
Next $47,000
4%
4%
Next $5,000
5%
5%
Next $10,000
6%
6%
Next $15,000
7%
8%
Next $15,000
9%
10%
Next $15,000
11%
12%
Next $15,000
13%
14%
AV in excess of $130,000
15%
16%
B) Progressive Tax rates for non-owner-occupied residential property
Annual Value
Tax Rates from 1 Jan 2014
Tax Rates from 1 Jan 2015
First $30,000
10%
10%
Next $15,000
11%
12%
Next $15,000
13%
14%
Next $15,000
15%
16%
Next $15,000
17%
18%
AV in excess of $90,000
19%
20%
A) Illustration of Tax Impact for owner-occupied residential property
Annual Values Example of type of Property Property Tax payable under the current structure Property Tax payable under new structure Percentage increase in property Tax
$12,000 5-Rm HDB Flat $240 $160 -33%
$35,000 suburban Private condo $1,160 $1,080 -7%
$70,000 Central Private condo $2,660 $2,780 5%
$150,000 Central landed property $7,460 $12,580 69%
B) Illustration of Tax Impact for non-owner-occupied residential property
Annual Values Example of type of Property Property Tax payable under the current structure Property Tax payable under new structure Percentage increase in property Tax
$12,000 5-Rm HDB Flat $1,200 $1,200 0%
$35,000 suburban Private condo $3,500 $3,600 3%
$70,000 Central Private condo $7,000 $8,500 21%
$150,000 Central landed property $15,000 $24,000 60%

*The information provides herein are for general reference purpose.  It does not constitute any financial or investment advice. Buyer to seek financial institute for advice of any sales and purchase eligibility in making any investment or other decision.