Understanding Singapore Property Tax: Obligations of a Property Owner

1. What is Property Tax? 

Property Tax is a tax on immovable properties (i.e. land and buildings). The tax payable is calculated based on a percentage (Tax Rate) of the Annual Value. 

2. Who is liable for Property Tax? 

All property owners are liable to pay Property Tax. 

 3. Definition of property owners 

Under the Property Tax Act, the person for the time being receiving rent of any premises whether on his account, as an agent/trustee/representative of the legal owner, or the person whose name is entered in the Valuation List, is deemed to be ‘owner’. Usually the ‘owner’ is also the legal owner. 

4. As an owner, is there anything I need to notify IRAS and what if I fail to notify?  

Yes, you should notify IRAS in writing within 15 days from the day:

  • your property which has been vacant, is occupied;
  • you no longer live in your property;
  • you rent out property and charge premium;
  • you increase the rent (including furniture rental and service charges) of your property;
  • you erect, enlarge, alter, improve, rebuild or demolish your property / part of the building; and
  • you apply to develop or subdivide your property. 

Please write to IRAS at 55 Newton Rd, Singapore 307987.  

Failure to give the required notice to IRAS is an offence which on conviction carries a fine not exceeding $5,000 plus 10% interest on the tax payable. The interest payable shall be calculated from the date of expiry of the period during which the notice is to be given. 

5. If I do not receive any notice to pay Property Tax, what should I do? 

If you own a property but have not received any notice from IRAS to pay the Property Tax on your property for more than a year, you have to notify the Chief Assessor.  

Please note that failure to inform IRAS without reasonable excuse is an offence and may be liable on conviction to a fine not exceeding $5,000. 

Source: IRAS

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