Dear Carol
There are two taxes.
One is property taxes. Prior to 1 Jan 2011, the tax rate was a flat rate of 4%. With effect from 1 Jan 2011, the progressive owner-occupier’s tax rates have replaced the flat 4% tax rate as follows:
Annual Value ($) Tax Rate (%)
First 6,000 0%
Next 59,000 4%
Amount exceeding 65,000 6%
The tax for rental and commerical property is 10% of Annual Value.
The other is rental income. You have to declare this under your annual income to IRAS. You can check below link for the tax rate.
http://iras.gov.sg/irasHome/page04.aspx?id=1190
Please call me at
(65)-9745-5178
or email miketayse@hsr.com.sg for any clarification.
Thks & regards,
Mike Tay (郑树荣)
B.Sc. (NUS), EMBA (SUNY)
CEA Reg:R042367C
M:
+65 97455178
E: miketayse@hsr.com.sg
HSR International Realtors Pte Ltd
Estate Agent Reg No: L3002226G
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