Property Tax to be Raised !!!
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Property tax rise for HDB flats offset by 1-time rebate Property tax for Housing Board flats will go up after the revision of Annual Values (AV) of all Housing Board flats from Jan 1. The revision comes as a result of the rise in market values.
However, the tax increase will be offset by a one-time rebate of $55 or the amount of the property tax based on 2012's AV, whichever is lower. The rebate will lessen the increase in property tax payable by lower and middle income households, with 94 per cent of all Housing Board flat owners receiving the rebate, said the Inland Revenue Authority of Singapore (IRAS) in a statement on Friday.
The rebate will not apply to Housing Board flats that are not owner-occupied. One and two-room owner-occupiers will continue to pay zero property tax, while those in three-room flats will on average pay roughly the same tax as last year. All four- to five-room flat owners will pay $5 to $29 more for the year.
How is AV determined?
AV is determined based on the estimated annual rent of your flat if it were to be rented out. (I didn't rent out my place so how can there be a tax be based on "notional" rental income that wasn't earned by me really? What a load of BS) The AV of your flat has been revised to take effect from 2012 to reflect the current market rents of flats that are similar to yours. Information on such rents is available at
www.hdb.gov.sg
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Wow, that's getting slapped and we still have to thanks them.
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can we say no?
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cancel TV license fee, increase property tax.
Pat you on the head here, slap you across the face there. Usual PAP tricks.
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i dont understand the rationale of raising the property tax just because of the rise in property prices.
the rise in property value is beneficial only if homeowners rent out or sell their flats.
so property tax should only be paid by people who rent out or sell their flats.
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Originally posted by FireIce:
can we say no?
just don't own a property and you won't get taxed....
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As usual like before.
Be prepared to pay more property tax next year as they will tweak the valuation upward.
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double post.
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uncle clivebenss... double postings... but 6mins different... very heavy traffic to sgforums nowadays...
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Originally posted by dragg:
i dont understand the rationale of raising the property tax just because of the rise in property prices.
the rise in property value is beneficial only if homeowners rent out or sell their flats.
so property tax should only be paid by people who rent out or sell their flats.
You need to pay tax on that 99 year thing you lease.
Is that so hard to understand?
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Originally posted by Just_do_it_lah:
uncle clivebenss... double postings... but 6mins different... very heavy traffic to sgforums nowadays...
not heavy but the cloudflare problem.
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make ppl feel tt suddenly your sty like valued bery high sia
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I want you to pay if you park your car on my land. In a similar manner, you pay for your property that is on the land of the country.
How much to pay? Should it depend on size, condition, location, status, owner, colour, or whatever. Someone thought the fairest means would be the estimted rental potential of the property would be the best.
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pay and pay - sounds familiar?
por alien parody - sounds familiar?
poor ah peh - sounds more familiar?
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Originally posted by mancha:
I want you to pay if you park your car on my land. In a similar manner, you pay for your property that is on the land of the country.
How much to pay? Should it depend on size, condition, location, status, owner, colour, or whatever. Someone thought the fairest means would be the estimted rental potential of the property would be the best.
So if for some reason, some crazy person decides he can afford to pay $10,000 a month to rent a HDB flat, then everybody living in a hdb flat needs to pay a property tax that reflects this $10,000 rental potential?
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Well, they stick to their election promise of keeping GST at the current rate, so they raise other sources of revenue.
It's LPPL.
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Originally posted by βÎτά:
Well, they stick to their election promise of keeping GST at the current rate, so they raise other sources of revenue.
It's LPPL.
Times are bad.
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Money again! What else is new from them? Whole year through, it's money , money and nothing else but money. Money and themselves first not Singaporeans first.
To be fair to hdb dwellers, we don't own the HDB flats why should we even pay property tax to them? Greedy ! greedy! Nothing changes after election, the constant thing that is the first never change is money money and money.
Thanks to those goons who gave them the mandate. To these people, don't kpkb about any raise from them because you all deserve it.
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its property mah. they never say leasehold or freehold right. so law by law they nohting wrong mah
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Originally posted by charlize:
So if for some reason, some crazy person decides he can afford to pay $10,000 a month to rent a HDB flat, then everybody living in a hdb flat needs to pay a property tax that reflects this $10,000 rental potential?
One crazy person do not set the amount, there need to be a significantly more number of crazy people willing to pay that amount. If the going rate is $10,000pm and at this rate, people still find it dificult to rent flat, and are willing to pay higher, then the property tax will reflect this $10,000 rental potential.
What do you thing is the market rate at present? You are allowed to challenge their rate if you do not agree with it. But you must in turn provide your rate and substiantiate it.
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Everything are rising except our salaries....
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Originally posted by mancha:
One crazy person do not set the amount, there need to be a significantly more number of crazy people willing to pay that amount. If the going rate is $10,000pm and at this rate, people still find it dificult to rent flat, and are willing to pay higher, then the property tax will reflect this $10,000 rental potential.
What do you thing is the market rate at present? You are allowed to challenge their rate if you do not agree with it. But you must in turn provide your rate and substiantiate it.
But how many people are renting out their units?
5% of all HDB dwellers?
50% of all HDB dwellers?
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In Australia owner occupied properties are tax exempt.
PAP just wants to milk more money from Singaporeans.
To PAP all Singaporeans looks like cows with large udders.
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In the first place it is the people who gave them the mandate to do as they like.
60% voters are the givers of the mandate, it is considered strong support for a money sucking "govt". I believe these people love to be in the vicious cycle everyday to be sucked by the greedy shitty people in white clothing. Come next election, they vote them again.The PAP acknowledges that times are turning bad at the same time without consideration for the people raise property tax. They are the only govt in the world that keeps making tons of money even in bad times. oh heaven, let there be severe cases happening to them to make them learn to treat us better!
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By the way, you are also taxed for rental income when you do your annual income tax declarations.
Tax, tax, tax.