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
|
B) Progressive Tax rates for non-owner-occupied residential property
A) Illustration of Tax Impact for owner-occupied residential property
B) Illustration of Tax Impact for non-owner-occupied residential property
|
*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. |