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Property Tax - Budget 2013

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Mi Amigo
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Postby Mi Amigo » Mon, 08 Jul 2013 11:44 am

stiwi wrote:So if someone owns a property that he doesn't occupy and which estimated rental value is S$100k / year, he will pay S$20k property tax from 2015, is that correct?

Well, that's what the table says, isn't it?

Pal wrote:Non-owner-occupied residential property tax in 2014 (current rate 10% of AV)
AV - $30,000 or less - 10% (2015 - 10%)
AV - Next $15,000 - 11% (2015 - 12%)
AV - Next $15,000 - 13% (2015 - 14%)
AV - Next $15,000 - 15% (2015 - 16%)
AV - Next $15,000 - 17% (2015 - 18%)
AV - Above $90,000 - 19% (2015 - 20%) *DOUBLED!!!*
Be careful what you wish for

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Strong Eagle
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Postby Strong Eagle » Mon, 08 Jul 2013 12:02 pm

stiwi wrote:So if someone owns a property that he doesn't occupy and which estimated rental value is S$100k / year, he will pay S$20k property tax from 2015, is that correct?


No. Will pay a graduated tax. It is a stout chunk of change, though... and somehow I doubt the rental value is significantly below that actual rents being obtained.

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Mi Amigo
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Postby Mi Amigo » Mon, 08 Jul 2013 12:09 pm

Aha! Good point; I'd overlooked the fact that it is graduated. D'oh! :oops!:
Be careful what you wish for


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