Capital gains tax was abolished in Singapore a few years ago.
I was therefore surprised to hear from a friend that a property sold before TOP may incur capital gains tax. I invested in several residential properties before retiring last year and may sell one of them this year, rest will be rented out. When consulting IRAS’ website, there is limited information on this issue. An accountant say I should incorporate, but it is difficult to see cost/tax benefits.
Can anyone shed light on the capital gains tax issue, or suggest an accountant or website please?