Increase in property tax for HDB 3-room flats and above
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SINGAPORE: All one- and two-room owner-occupiers of HDB homes do not need to pay property tax in 2013, similar to 2012.
For a majority of other HDB flat types, the property tax bill for 2013 will increase by between S$40 and $50, after taking into account a new S$40 rebate.
The increase in property tax comes after the revision of Annual Values (AVs) of HDB flats with effect from 1 January 2013, reflecting the rise in market rentals.
To mitigate the increase in the property tax payable by lower and middle-income households as a result of the AV revision, the government will give a one-off rebate of S$40 to owner-occupied HDB flats.
The Inland Revenue Authority of Singapore (IRAS) reviews the AVs of all properties - including HDB flats - annually.
The AV, which is based on the estimated annual market rent of a property if it were to be let out, applies to all homes, including owner-occupied homes. It is used as a basis to compute the property tax payable.
Property tax is calculated at 10% of the AV for non owner-occupied homes. For owner-occupied homes, the property tax payable is calculated based on concessionary tax rates (see table).
Since the last revision of AVs of all HDB flats on 1 January 2012, market rentals of HDB flats have risen by 8% to 13%. Accordingly, the AVs of all HDB flats will be revised from 1 January 2013.
To mitigate the impact of the increase in property tax payable, all owners of owner-occupied HDB flats will be given a one-time rebate of S$40. It will be automatically set off against the property tax payable in 2013. This rebate will not apply to non owner-occupied HDB flats which are currently taxed at 10%.
94% of HDB flat owners will receive this rebate.
All one- and two-room HDB owner-occupiers will not need to pay any property tax in 2013 as their revised AVs remain below S$6,000.
The revised property tax bills of other owner-occupied flat types, after taking into account the property tax rebate, are shown in the table below.
- CNA/irSource: http://www.channelnewsasia.com/stories/singaporelocalnews/view/1239625/1/.html
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i don;t understand, they should tax those that rent out their flats. not those that never rent. like that also can
why go by flat room nhumber type? should go by the area of the flat. last time 3 room the floor area can be 101, now 4 rom but only 91. like that also can? cannot go by room type, go by area, sgapore limited space, but maths is still maths. 1 is 1 2 is 2. cannot be simplified.
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Never rent out room also must pay property tax.
Damn stressed.
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in simple language, how to tax u without u knowing..
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Times are bad.
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One of the greatest wonders of asset enhancement of a government subsidized flat. The value increases and you cannot sell it to realise profit unless you rather move to Batam sekupang or ulu tiram in Johore bahru....but your taxes increase instead!Medicare increase , tax increase, coe increase ,erp increase, food prices increase........and they wonder why Singaporeans got to work until drop dead... and are emotionaless... some rather not marry and even those who marry think many many times before having even more than one or two kids ........ amazing grace!
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or lan sign
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If you notice the greedy ones have been increasing HDB property tax continuously these few years, next year is no exception. Giving crappy reason for the increase. If they want your money they go all the way for it, they heck care what stupid or crappy reason they give. They are in power they just do what they want not what are good for the people.
Sick! The lhl getting more and more greedy, may be he is collecting more money to go to other world.
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Life is surreal.
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Originally posted by charlize:
Life is surreal.
Paying taxes is very real! -
Originally posted by Bikeforceful:
Paying taxes is very real!make u feel the pinch.
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In most countries, property taxes are only imposed on property which have been leased out.
There must be an income source before taxes are levied, imagine income taxes imposed on you when you don't even have any work.
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Everything goes for greedy for money govt of Singapore , tax tax tax.
We will only see more increases as years go by for tax for HDB. If they are kind they will decrease once in a while.
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In Singap0re, no work also must pay if not will end up in jail. Money supersedes everything in Singapore.
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That is the sad thing imagine a retiree at 70 stlll having to pay property tax for the only property/roof over his/her head? Ridiculous! You literally got to pay your way to your coffin! In australia you pay council rates for the services you use- fair no property tax.
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pay and pay.
and then pay again.
and again.
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Understable - that is because generally, Singaporeans ask for it. They love to pay and pay that is why once in 4 or 5 years they continue vote to pay and pay.
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move country
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Originally posted by mistyblue:
move country
Move country or change govt??
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life is surreal.
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Originally posted by βÎτά:
In most countries, property taxes are only imposed on property which have been leased out.
There must be an income source before taxes are levied, imagine income taxes imposed on you when you don't even have any work.
This i couldn't agree more..:D
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How are property taxes imposed in different countries ?
http://en.wikipedia.org/wiki/Property_tax
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Anything that can be taxed will be taxed.
Like buying a car, you need to pay to get coe first.
Then you pay annual road tax for your car.
And then after paying road tax, they tax you for certain roads that you drive on with erp.
And after 10 years when your coe expires, you have to pay for another coe if you want to continue driving.
Tax, tax, tax.
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Benefit to pay or ability to pay ?
It is always an issue that the public sector / finance economists / policy decision makers
will have to decide upon.
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people rent the flat or sell flat at profit you then tax lah. the house still on loan repayment tax what jibai?!