ValueBuddies.com : Value Investing Forum - Singapore, Hong Kong, U.S. › ValueBuddies.com › Property v
Lower taxes for 95% of owner-occupied homes next year

Lower taxes for 95% of owner-occupied homes next year

Thread Rating:
  • 0 Vote(s) - 0 Average
  • 1
  • 2
  • 3
  • 4
  • 5
CityFarmer Offline
Moderator
*****
Posts: 9,841
Threads: 711
Joined: Mar 2012
Reputation: 64
#1
26-11-2013, 05:10 PM
Lower property tax next year, one of the reasons to cheer at year-end...Big Grin

Lower taxes for 95% of owner-occupied homes next year

SINGAPORE — Most owner-occupied homes will pay lower property tax bills next year as a result of the Progressive Property Tax Rates, the Inland Revenue Authority of Singapore (IRAS) announced today (Nov 26).

All owner-occupied HDB flats and three quarters of private homes that are not rented out will pay lower property tax in 2014. In total, 95 per cent of owner-occupied homes will see lower property tax bills.

Taking into account non-owner-occupied homes, 80 per cent of all homes will pay lower property tax in 2014.
...
http://www.todayonline.com/singapore/low...-next-year
“夏则资皮，冬则资纱，旱则资船，水则资车” - 范蠡
Find
Reply
countonme Offline
Member
***
Posts: 152
Threads: 3
Joined: Aug 2013
Reputation: 2
#2
26-11-2013, 06:27 PM
How about those renting out 1 or 2 units of the rooms? Is the rental income being taxed ?
Find
Reply
opmi Offline
Posting Freak
*****
Posts: 2,743
Threads: 23
Joined: Mar 2013
Reputation: 25
#3
26-11-2013, 08:16 PM
(26-11-2013, 06:27 PM)countonme Wrote: How about those renting out 1 or 2 units of the rooms? Is the rental income being taxed ?

by law, those rental income is also assessible under income tax.

for property tax, dont know can separate or not.
"... but quitting while you're ahead is not the same as quitting." - Quote from the movie American Gangster
Find
Reply
pianist Offline
Posting Freak
*****
Posts: 2,808
Threads: 170
Joined: Sep 2010
Reputation: 1
#4
26-11-2013, 09:34 PM
Fully owner ocuppied house has to subject to property tax? Doesn't seem to make sense
Find
Reply
Muck Offline
Member
***
Posts: 221
Threads: 3
Joined: Jul 2012
Reputation: 3
#5
27-11-2013, 12:11 AM
(26-11-2013, 09:34 PM)pianist Wrote: Fully owner ocuppied house has to subject to property tax? Doesn't seem to make sense

Care to explain why you think so? Does not seem unusual to me - it is a tax on property owned.
Find
Reply
Zelphon Offline
Member
***
Posts: 241
Threads: 5
Joined: Sep 2010
Reputation: 3
#6
27-11-2013, 12:32 AM
(27-11-2013, 12:11 AM)Muck Wrote:
(26-11-2013, 09:34 PM)pianist Wrote: Fully owner ocuppied house has to subject to property tax? Doesn't seem to make sense

Care to explain why you think so? Does not seem unusual to me - it is a tax on property owned.

But the properties were LEASED !!!
Not owned...
Find
Reply
CityFarmer Offline
Moderator
*****
Posts: 9,841
Threads: 711
Joined: Mar 2012
Reputation: 64
#7
27-11-2013, 09:02 AM
(27-11-2013, 12:32 AM)Zelphon Wrote:
(27-11-2013, 12:11 AM)Muck Wrote:
(26-11-2013, 09:34 PM)pianist Wrote: Fully owner ocuppied house has to subject to property tax? Doesn't seem to make sense

Care to explain why you think so? Does not seem unusual to me - it is a tax on property owned.

But the properties were LEASED !!!
Not owned...

Services are also taxable...Big Grin
“夏则资皮，冬则资纱，旱则资船，水则资车” - 范蠡
Find
Reply
Muck Offline
Member
***
Posts: 221
Threads: 3
Joined: Jul 2012
Reputation: 3
#8
27-11-2013, 09:34 AM
(27-11-2013, 12:32 AM)Zelphon Wrote:
(27-11-2013, 12:11 AM)Muck Wrote:
(26-11-2013, 09:34 PM)pianist Wrote: Fully owner ocuppied house has to subject to property tax? Doesn't seem to make sense

Care to explain why you think so? Does not seem unusual to me - it is a tax on property owned.

But the properties were LEASED !!!
Not owned...

Ahahaha.... I see where you're getting at. Still, leasehold property still means you have bought rights to that property, albeit for a specified period. This is not unique to Singapore. Besides, ppty tax is applied to both leasehold or freehold, even if owner-occupied.
Find
Reply
NTL Offline
I am a Freak!
*****
Posts: 1,045
Threads: 5
Joined: Nov 2012
Reputation: 6
#9
27-11-2013, 09:42 AM
Whether is it leasehold or freehold, the land still belongs to the country at the end. In most countries, it is like that.
Find
Reply
countonme Offline
Member
***
Posts: 152
Threads: 3
Joined: Aug 2013
Reputation: 2
#10
27-11-2013, 10:04 AM
How about between locals and foreigners/PRs, any difference in tax amount?

(27-11-2013, 09:34 AM)Muck Wrote:
(27-11-2013, 12:32 AM)Zelphon Wrote:
(27-11-2013, 12:11 AM)Muck Wrote:
(26-11-2013, 09:34 PM)pianist Wrote: Fully owner ocuppied house has to subject to property tax? Doesn't seem to make sense

Care to explain why you think so? Does not seem unusual to me - it is a tax on property owned.

But the properties were LEASED !!!
Not owned...

Ahahaha.... I see where you're getting at. Still, leasehold property still means you have bought rights to that property, albeit for a specified period. This is not unique to Singapore. Besides, ppty tax is applied to both leasehold or freehold, even if owner-occupied.
Find
Reply


Forum Jump:


Users browsing this thread: 3 Guest(s)