Where do you see this?
Mostly when you sign a sale & purchase agreement, an option to purchase or a tenancy agreement.
What does it mean?
Stamp duty is a tax you pay for the stamping of documents relating to properties and shares, for instance, leases or mortgages.
Property buyers are required to pay stamp duty based [...]
Filed under: General, Tax Matters | Tagged: Stamp Duty | No Comments »
Wealthy people aside, fund managers and the financial sector have welcomed the Government’s decision at last Friday’s Budget sitting to remove the Estate Duty with immediate effect.
They said this will attract the super rich to not only invest in Singapore, but also relocate here.
Estate duty affects those with properties worth over S$9 million as well [...]
Filed under: Foreigners, General, Govt Policy, Property Investment, Tax Matters | Tagged: Estate Duty, Estate Duty Removal, Foreign Funds, Foreign Investment, Investment Funds, Property Investment | No Comments »
Estate duty abolition may also help banks and push up property prices.
It was a Budget that failed to excite the stock market very much, but analysts said that some of the initiatives announced could benefit research-intensive firms and companies in the healthcare, technology, finance and property sectors - mostly in the longer term.
Shrugging off Friday’s [...]
Filed under: Foreigners, General, Govt Policy, Property Investment, Tax Matters | Tagged: Estate Duty, Estate Duty Abolition, Estate Duty Removal, Foreign Investment, Property Investment, Property Prices, Singapore Property | No Comments »
Companies could use more incentives, while estate duty should go, they say
There won’t be a further cut in corporate tax rates for this year’s Budget, but it’s about time that personal income tax rates are brought down, said tax experts.
With Singapore having cut corporate tax rates last year by a hefty two percentage points to [...]
Filed under: General, Singapore Economy, Tax Matters | Tagged: Budget Day, Estate Duty, Singapore Tax | No Comments »
Singapore’s hike in property tax on hotels next year will not apply to service residences, the Inland Revenue Authority of Singapore (IRAS) said yesterday.
Service residences, many of which provide food and cleaning services, have emerged as an alternative to hotels in recent years for business travellers on longer stays.
Singapore-listed Ascott Group, the largest [...]
Filed under: General, Hotel, Service Apartment, Tax Matters | Tagged: Property Tax, Service Apartments, Singapore Hotel | No Comments »
AS HOTEL room rates in Singapore continue to set new highs, the taxman’s upcoming formula tweaks — which will see hotels’ property tax bills jump by at least 33 per cent — will skim some of the cream off the cake for hoteliers.
The increase arises from a change to the formula used to calculate the [...]
Filed under: General, Hotel, Tax Matters | Tagged: Property Tax, Singapore Hotel | No Comments »
I REFER to Mr Ng Zhong Ren’s letter, ‘Why did Iras up property valuation one year later?’ (ST, Sept 29).
Mr Ng asked why Iras’ letter of June 18 was received by his lawyer only on July 17. Iras had, since October last year, been corresponding with the law firm that acted for him in the [...]
Filed under: General, Legal Issues & News, Tax Matters | Tagged: IRAS, Property Valuation, Singapore Property, Stamp Duty | No Comments »
IN MARCH last year, my brother and I bought a private apartment valued at $420,000 by an external valuer, who had made an on-site inspection of the property.
All legal fees, bank loan, and government taxes were settled then.
However, more than one year later, we received a call from our lawyer in July, informing us that [...]
Filed under: General, Tax Matters | Tagged: IRAS, Property Tax, Property Valuation, Singapore Property | No Comments »
Q I HAVE inherited $15 million, and the money is currently deposited in a British bank.
I am the beneficiary of funds from a deceased friend, who was from Mexico. If I transfer the money from Britain to Singapore, am I subject to an estate duty or a tax that is payable?
A AS A rule, an [...]
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Government leaders have indicated that the corporate tax may be reduced. This is heartening.
On the question of estate duty, the Prime Minister had indicated in Parliament that the Government was looking at the matter.
It is hoped that the Government will increase the exemption for commercial properties (commercial properties and shares and other assets are given [...]
Filed under: Real Estate Facts & Figures, Tax Matters | No Comments »
