HDB Pigeon Holes to Cough Out More Property Tax

[SotongMee]

Very confusing press statement here, talk so much and the bottomline is still peasants will pay more taxe$.



For 4-room HDB owner-occupiers, the average tax rise will be S$97 for the year. For 5-room HDB owner-occupiers, the average tax increase will be S$107 for the year as a whole, and for Executive HDB owner-occupiers, S$103.

--------------------------------------------------------------------------
IRAS to raise Annual Values of HDB flats
Posted: 18 November 2009 1826 hrs

SINGAPORE: The Inland Revenue Authority of Singapore (IRAS) will raise the Annual Values (AVs) of HDB flats with effect from 1 January 2010.

To help HDB homeowners adjust to the AV increase, the government will grant a one-off property tax rebate to all HDB owner-occupiers for the property tax payable in 2010.

There are two existing property tax rebates - the S$100 rebate and the 40 per cent rebate that were provided as part of Budgets 2007 and 2009 respectively. They are both scheduled to expire in 2009.

To help HDB homeowners adjust to the January 2010 AV increase, the government will grant a new property tax rebate to all HDB owner-occupiers for property tax payable in 2010.

This new rebate granted to HDB owner-occupiers will apply to property tax payable in 2010 after deducting the 1994 GST Rebate which is available to all residential property owner-occupiers.

The new rebate is set at 50 per cent of the property tax payable and capped at S$120.

To provide more help to owner-occupiers of smaller HDB flats, the rebate will be the lower of S$50 or the actual property tax amount. This means that flats with a property tax of S$50 and below will not need to pay property tax in 2010.

With the new property tax rebate for HDB owner-occupiers and the ongoing 1994 GST Rebate, all 1- and 2-room HDB owner-occupiers will continue to pay zero property tax in 2010.

For average 3-room HDB owner-occupiers, the increase in property tax in 2010 after deducting the special rebates will be S$72 for the year as a whole.

For 4-room HDB owner-occupiers, the average tax rise will be S$97 for the year. For 5-room HDB owner-occupiers, the average tax increase will be S$107 for the year as a whole, and for Executive HDB owner-occupiers, S$103.

- CNA/ir

 

[Brightkid]

Now we know why the PAPa is not interested to lower prices of HDB, besides sucking up all our coffin money in CPF.

 

[ThePlen]

To help HDB homeowners adjust to the January 2010 AV increase, the government will grant a new property tax rebate to all HDB owner-occupiers for property tax payable in 2010.

This new rebate granted to HDB owner-occupiers will apply to property tax payable in 2010 after deducting the 1994 GST Rebate which is available to all residential property owner-occupiers.

The new rebate is set at 50 per cent of the property tax payable and capped at S$120.

To provide more help to owner-occupiers of smaller HDB flats, the rebate will be the lower of S$50 or the actual property tax amount. This means that flats with a property tax of S$50 and below will not need to pay property tax in 2010.

With the new property tax rebate for HDB owner-occupiers and the ongoing 1994 GST Rebate, all 1- and 2-room HDB owner-occupiers will continue to pay zero property tax in 2010.

For average 3-room HDB owner-occupiers, the increase in property tax in 2010 after deducting the special rebates will be S$72 for the year as a whole.

For 4-room HDB owner-occupiers, the average tax rise will be S$97 for the year. For 5-room HDB owner-occupiers, the average tax increase will be S$107 for the year as a whole, and for Executive HDB owner-occupiers, S$103.

- CNA/ir

if they really want to help HDB owner-occupiers, why increase the tax?

 

[makapaaa]

More importantly, where does all the money go to? Increasing the leegally corrupt wicked ministers' pay, offsetting Ho Jinx's massive punting losses and in provision of free scholarships for FTrash!

 

[makapaaa]

And they would have revised down the property values of the rich, so they need to pay LESS property tax!

 

[halsey02]

I got F9 for my maths...heh heh heh
-----------------------------------------------------------
Annual property tax for owner-occupied HDB flats
Flat type Average tax 2009* Average increase 2010**
1- and 2-room $0 $0
3-room $2.17 $72
4-room $46.96 $97
5-room $82.70 $107
Executive $106.38 $103
* After one-off 40% property tax rebate provided under Budget 2009 as well as the property tax rebate of up to $100 per year as part of the GST offset package provided under Budget 2007. The rebates expire this year.
** After one-off 2010 property tax rebate

Source: Ministry of Finance
-------------------------------------------------------------------------------

I have poor comprehension skills... GST to help the poor!?

base on the above data, the percentage increase will be for:

1. 3 Room Flat - +3,217%
2. 4 Room Flat - +106%
3. 5 Room Flat - +29%
4. Executive Flat -3.17%

 

[Premnair]

"The Inland Revenue Authority of Singapore (IRAS) will raise the Annual Values (AVs) of HDB flats with effect from 1 January 2010"

Proof that the value of property in Singapore is not determined by market forces. This is a dangerous situation!

 

[tonychat]

The bottom line is sinkies are too balless and stupid to allow their govt to screw their ass for more tax. Enjoy getting screwed, sinkies?

 

[halsey02]

"The Inland Revenue Authority of Singapore (IRAS) will raise the Annual Values (AVs) of HDB flats with effect from 1 January 2010"

Proof that the value of property in Singapore is not determined by market forces. This is a dangerous situation!

They give rebates, they subsidize...they sanitize...you people DIE!!!

66.6% are LOVING IT!...they are promoting ONE SINgapore, to help the poor...

One for ALL , ALL they want!!!

 

[Watchman]

Show them your power Singaporeans .

Let's see which avernue will they get money from to bail themselves out ?

 

[Premnair]

They give rebates, they subsidize...they sanitize...you people DIE!!!

66.6% are LOVING IT!...they are promoting ONE SINgapore, to help the poor...

One for ALL , ALL they want!!!

Simple rule of thumb : IF YOU CANNOT MORTGAGE YOUR PROPERTY TO THE BANK , THEN THERE IS NO VALUE TO IT.

 

[Zombie]

property tax is based on
annual value of property = estimated annual rent of your property ie how much you get if you rent it out

i thought current trend is property price up... but rental market down???

 

[tanboonlock]

thot there is a tax rebate?

 

[SotongMee]

Some kind of weirdos help you by blood sucking away your money so you have lesser to spend on health damaging addictions like gambling, beer, cigarettes and Geylang FL PRC prostitutes.

if they really want to help HDB owner-occupiers, why increase the tax?