Rental Split(Rental of property/Rental of fixtures/fittings)

[louy]

There is an unusual clause in my Tenancy Agreement which I do not really understand why.

The rent is $2,500 and it is split out. It reads ''Two Thousand Five Hundred Only (S$2,500.00) (hereinafter called the “monthly rent”

[jpatokal]

As far I understand, that used to be a common dodge for landlords to reduce their taxes, since they paid less/no tax on leasing furnishings than on rental income. The loophole in question was closed a long time ago, but like many if not most things in The Standard Rental Contract(tm), it's still hanging around even though it's now pointless. (My lease has it as well.) As far as I'm aware, it has no impact at all on the tenant.

The IRAS link you gave is for taxation of benefits provided by an employer. If your employer is paying your rent in full, you could possibly use that chart to reduce your taxes as bit, but otherwise it's not relevant.