IRAS to raise Annual Values of HDB flats

• Greytan49

  23 Nov 09, 15:58

  IRAS to raise Annual Values of HDB flats
  
  

  Posted: 18 November 2009 1826 hrs

  SINGAPORE: The Inland Revenue Authority of Singapore (IRAS) will raise the Annual Values (AVs) of HDB flats with effect from 1 January 2010.
  
  To help HDB homeowners adjust to the AV increase, the government will grant a one-off property tax rebate to all HDB owner-occupiers for the property tax payable in 2010.
  
  There are two existing property tax rebates - the S$100 rebate and the 40 per cent rebate that were provided as part of Budgets 2007 and 2009 respectively. They are both scheduled to expire in 2009.
  
  To help HDB homeowners adjust to the January 2010 AV increase, the government will grant a new property tax rebate to all HDB owner-occupiers for property tax payable in 2010.
  
  This new rebate granted to HDB owner-occupiers will apply to property tax payable in 2010 after deducting the 1994 GST Rebate which is available to all residential property owner-occupiers.
  
  The new rebate is set at 50 per cent of the property tax payable and capped at S$120.
  
  To provide more help to owner-occupiers of smaller HDB flats, the rebate will be the lower of S$50 or the actual property tax amount. This means that flats with a property tax of S$50 and below will not need to pay property tax in 2010.
  
  With the new property tax rebate for HDB owner-occupiers and the ongoing 1994 GST Rebate, all 1- and 2-room HDB owner-occupiers will continue to pay zero property tax in 2010.
  
  For average 3-room HDB owner-occupiers, the increase in property tax in 2010 after deducting the special rebates will be S$72 for the year as a whole.
  
  For 4-room HDB owner-occupiers, the average tax rise will be S$97 for the year. For 5-room HDB owner-occupiers, the average tax increase will be S$107 for the year as a whole, and for Executive HDB owner-occupiers, S$103.
  
  - CNA/ir

  Source: http://www.channelnewsasia.com/stories/singaporelocalnews/view/1018987/1/.html

   

   

   

   

• SevenEleven

  23 Nov 09, 16:06

  hurray!!! that's good news....price and value of your properties will soar!

   

• noahnoah

  23 Nov 09, 16:06

   

  Good news!

  Can sell !

• angel7030

  23 Nov 09, 16:25

  Sell already, live where??

• Mr Milo

  23 Nov 09, 22:40

   

  live at har pow villa

• deepak.c

  23 Nov 09, 23:05

   

  Those PAP Ministers are a helpful bunch.

   

  To help HDB homeowners adjust to the AV increase, the government will grant a one-off property tax rebate to all HDB owner-occupiers for the property tax payable in 2010.

   

  This is like GST, when they first implement, they will give you rebates for afew years. After everybody has gotten used to the new GST rates, they will remove all the rebates.

   

  Who said we don't have a helpful and caring government.

   

• charlize

  23 Nov 09, 23:07

  Help the poor.

   

  Help HDB flat dwellers.

   

  Help car owners.

   

  They are simply the best and most helpful government in the world.