Best place to outsource all your accounting needs!

Business packages & Fees

Property Tax

Property-Tax

The regulation of Singapore property tax rates has been done in such a way that it encourages the owner occupied properties. While the property tax levied on non-owner occupied properties is a flat 10%, the tax rates for the owner occupied counterparts start from 0% depending on the annual value of the property.

The properties existing in Singapore which include flats, offices, vacant land and private properties are subject to Singapore Property Tax as per the property tax act on immovable properties. This tax is to be paid in advance each year and is calculated by applying the existing tax rates on the annual value of the property.

Singapore Property Tax Rates

From January 1, 2011 the government of Singapore introduced a progressive property tax regime for both, owner-occupied and non-owner occupied residential properties. However, the tax rate is lower if the property is eligible to be taxed under owner-occupied tax rates. On the other hand, the current property tax rate for non-residential properties in Singapore stands at a flat rate of 10%. This is mainly because if heavy tax is levied on industries or commercial properties, it will have implications on the business costs.

Progressive Tax Rates for Owner-Occupied Homes:

Annual Value of the Property($) Tax Rate Effective 1 Jan 2014 Tax Rate Effective 1 Jan 2015
First 8,000 0% 0%
Next 47,000 4% 4%
Next 5,000 5% 6%
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 above $130,000 15% 16%

Progressive Tax Rates for Non-Owner-Occupied Residential Properties (Exclude residential land)

Annual Value of the Property ($) Tax Rate Effective 1 Jan 2014 Tax Rate Effective 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 above $90,000 19% 20%

Exemptions in Property Tax Regime

As per the Section 6(6) of the property tax act of Singapore, all buildings or properties used exclusively for the following purposes are exempted from property tax:

  • As public places for religious worship
  • As public schools which are aided by the government
  • Properties that promote social development of Singapore
  • For charitable purposes

We at Singaporeaccounts.com take privilege in guiding and informing you about the property tax regime of Singapore, while also providing the property tax calculation service for your convenience.

Please feel free to contact us on +65 6536 0036 or drop in an email at info@accountingservice.com.sg

Want to engage us for this service? Get Started

Your Name*:

Your Email*:

Your Phone*:

I am interested in* :

Singapore Taxation OverviewTax System & Tax RatesGST–Goods and Services TaxPersonal TaxCorporate/Company TaxProperty TaxDouble Tax TreatiesWithholding TaxTax for Non-ResidentsTaxation for InternsTax CalculatorECI (Estimated Chargeable Income)

Message:

 

captcha

I am interested in* :

Singapore Taxation OverviewTax System & Tax RatesGST–Goods and Services TaxPersonal TaxCorporate/Company TaxProperty TaxDouble Tax TreatiesWithholding TaxTax for Non-ResidentsTaxation for InternsTax CalculatorECI (Estimated Chargeable Income)

Your Name*:

Your Email*:

Your Phone*:

Message:

captcha