Singapore Property Tax Guide

Property tax in Singapore is levied annually by the Inland Revenue Authority of Singapore (IRAS) based on the property's Annual Value (AV). Understanding tax rates, calculations, and payment methods is crucial for compliance and financial planning.

What is Property Tax?

Property tax is an annual tax imposed on immovable properties, including residential, commercial, and industrial properties.

Key Features of Property Tax

• Tax is based on the property's Annual Value (AV).
• Owners are responsible for payment, regardless of occupancy status.

Property Tax Rates

1. Residential Properties

Owner-Occupied Properties

Non-Owner-Occupied Properties

2. Non-Residential Properties

For commercial and industrial properties, the tax rate is a flat 10% of the AV.

How to Calculate Property Tax

1. Determine the AV: Assessed by IRAS based on estimated market rental value.
2. Apply the Relevant Tax Rate: Use the applicable tax rate for owner-occupied or non-owner-occupied status.

Payment of Property Tax

• Tax bills are issued in December.
• Payment deadline: 31 January.
• Methods: Online banking, GIRO, credit/debit card.

Penalties for Late Payment

• 5% penalty for late payment.
• Additional fines or legal action for prolonged non-compliance.

Property Tax Exemptions and Reliefs

• Exemptions for vacant land held for development.
• Charitable organization properties may qualify for relief.
• Relief for properties under renovation.

Tips for Managing Property Tax

• Verify AV assessments regularly.
• Set up GIRO payments for easier tax management.
• Seek professional advice for AV disputes or exemptions.

How Apexia Corporate Advisory Can Help

• Tax Assessment: Review your property tax obligations.
• AV Dispute Resolution: Assistance with appeals.
• Exemption Applications: Guidance on tax relief eligibility.
• Payment Planning: Help with structuring tax payments.