No change to income tax framework for individuals who sell properties
The Ministry of Finance (MOF) said it has decided not to change the income tax framework with regard to individuals who sell their properties. Currently, there is no blanket rule on how property sale...
View ArticleTaxman collects $1.03 billion in ABSD
Singapore recorded a significant hike in tax revenue due to the additional buyer’s stamp duty (ABSD) introduced in January, reported The Straits Times. The Inland Revenue Authority of Singapore (IRAS)...
View ArticleWhy does IRAS make ‘provisional’ tax deductions?
While doing a check of my bank account, I realised deductions were made this month by the Inland Revenue Authority of Singapore (IRAS) under its GIRO scheme. The sum deducted was the same as my monthly...
View ArticleFrustrated agent starts petition
One Singapore real estate agent has launched an online petition in a bid to force consumers to pay the GST on their rental fees. Jason Lim of Vestor Realty is one of a growing number of Singapore real...
View ArticleCEA petition gets strong support
More than 115 Singapore real estate agents have signed a petition to the Council for Estate Agencies in just 24 hours, calling for the mandatory payment of GST on their transactions. On Friday...
View ArticleAgent petition gathers support
Almost 200 Singapore real estate agents have now signed an online petition to make the payment of GST mandatory on their deals. The petition to Council for Estate Agencies (CEA) President Greg Seow was...
View ArticleCEA: We cannot force GST payments
Singapore’s Council for Estate Agencies (CEA) has confirmed that it does not have the power to force consumers to pay GST on commission fees charged by real estate agents. In an email sent to all...
View ArticleGST petition hits 300 supporters
An online petition directed at Council for Estate Agencies (CEA) President Greg Seow to make it mandatory for GST to be paid on agents fees has now attracted 300 signatures. Launched 10 days ago by...
View ArticleStamp Duty for Lease
With effect from 22 Feb 2014 To ensure consistency in stamp duty treatment across leases of different lease periods, the basic of calculation has been changed. 1) Lease with Average Annual Rent (AAR)...
View Article980 buildings exempted from property tax
The Inland Revenue Authority of Singapore (IRAS) granted full or partial property tax exemptions to 980 buildings in 2013 from 650 buildings in 2000, according to media reports. Uncollected taxes from...
View ArticleAdditional Buyer’s Stamp Duty (ABSD) for Married Couples
Inland Revenue Authority of Singapore (“IRAS”) informed that there had been instances of wrong advice given by salespersons to buyers. Some salespersons had advised their buyers that they could qualify...
View ArticleEx-property agent jailed for using fake stamp certificates to cheat
A former property agent, Tan Hock Heng, Desmond, has been sentenced to 12 weeks’ jail for using fake stamp certificates, becoming the first to be punished for such offences. Desmond Tan Hock Heng, 24,...
View ArticleWoman charged with giving fake stamp certificates
A 50-year old woman was charged with using counterfeit stamp certificates. The Inland Revenue Authority of Singapore (IRAS) on Friday pressed four charges on Koh Siew Buay for offences under the Stamp...
View ArticleLower property tax in 2016
Homeowners in Singapore will benefit from paying lower property taxes in 2016 compared to this year, revealed the Inland Revenue Authority of Singapore (IRAS). This is due to the reduced Annual Values...
View Article
More Pages to Explore .....