Will this make it more expensive to live in Singapore as an expat or will companies cover this cost?
Singapore’s property tax is based on a percentage of the annual value of the property and it is applicable for any class of propertiesin Singapore. Owners bear the cost of property tax.
The annual value can be broadly termed as the potential rental value of your property, without taking into account furnishing. You will be able to check the annual value of your propertyon IRAS website at a minimal cost.
Singapore imposed a new property tax structure in the recently released Budget 2013 in light of the growing uproar of rising cost of living in Singapore. This new property tax structure will be effective progressively, start from 2014 and 2015.
Owner-occupied Property Tax Before 2014
For now, this is the current tax structure for owner-occupied properties:
For a 4-room HDB flat in the suburb, the monthly potential rental is approximately $2,000. The annual value for this flat is…
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