Budget 2013: More progressive tax structure for properties and cars – Channel NewsAsia

SINGAPORE: A more progressive tax structure will be introduced for properties and cars to achieve greater social equity without hurting Singapore’s competitiveness.

The zero per cent property tax rate band, which currently applies to the first S$6,000 of annual value of properties will be widened to S$8,000.

Currently, property tax rates for owner-occupied residential property are at zero per cent, four per cent and six per cent, depending on the annual values of the properties.

In addition to the current four per cent and six per cent tax bands, the government will introduce new bands of eight per cent to 16 per cent.

 

Full Article:

Budget 2013: More progressive tax structure for properties and cars – Channel NewsAsia.

 

Budget 2013: Property Tax Changes:

http://www.iras.gov.sg/irasHome/page_ektid14568.aspx

 

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About Vincent Ong
EXPERIENCE: Latest: Executive Adviser for KF Property Network Pte Ltd (A member of Knight Frank) Previous: Marketing Manager, Bosch Automotive Authorized Dealers. Work in Italy, Germany, Middle East, Dubai, Morocco, Korea, Vietnam, etc Previous: Civil Aviation Authority of Singapore ( CAAS ) Previous: Republic of Singapore Navy ( RSN and Royal Navy ). Attachment in Taiwan, India, Australia, New Zealand, Indonesia, etc CERTIFICATIONS AND AWARDS: - Best Student Awards, given by order of the Board of Education at London 1993 - Outward Bound School 1982 - Certificate of Acceredition from Airport Management Division Civil Aviation Authority of Singapore - Singapore Armed Forces Good Service Medal - Singapore Armed Forces Long Service And Good Conduct Medal - Business Leader To Iran 2005 Call me today if you are buying or selling or even renting a home. I will provide a FREE analysis for you on your homes as well as provide my advice and negotiating skills to help you purchase your dream home. Put me to work for you today. Feel free to search for any area home on my website. No commitment or sign-in needed. Just go to http://vincentchris.wordpress.com or http://sgestateforsale.wordpress or http://vincent.ong.virtualhomes.sg for more information.

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