IRAS Reduces Annual Value for Over 150,000 Homes

Great news for property owners who will be having their AV(annual value) reduced for Q1 of 2009.

IRAS

SINGAPORE : The Inland Revenue Authority of Singapore (IRAS) has reduced the Annual Values of over 115,000 private properties in the first quarter of this year.

That is almost 100 per cent of the total number of properties reviewed.

With the reduction and the 40 per cent property tax rebate announced in this year’s Budget, owners of these properties will pay between 45 per cent and 60 per cent less in terms of property taxes…

Channel News Asia

Oh and yes, have you file your income tax for 2008 yet? Deadline is 15th April 2009 for your normal filing and 18th for E-filing, don’t miss it!

Written by Benson Koh
Benson is a professional real estate realtor with over 11 years of experience specializing in all forms of real estate consultancy and brokeraging of different segments from regal homes to commercial spaces. Also a boutique developer, he manages both SRI5000 Developments which concentrates on landed homes as part of his land bank segment and Singapore Realtors Inc (SRI), a real estate agency which has over 7 years of group experience. You can reach him here via various channels. [ Facebook | Linkedin | Twitter | RSS Feed ]