What property tax rebates and reliefs are available in Singapore?

Singapore offers several property tax rebates and reliefs to help property owners manage their tax obligations:

1. Owner-Occupier Concession:

This is the most significant relief. If you live in your property as your primary home, you can apply for the owner-occupier tax rates, which are considerably lower than non-owner-occupier rates. The first S$8,000 of Annual Value is tax-free under owner-occupier rates.

Eligibility requirements:

• The property must be your place of residence.
• You must be the owner (sole, joint, or tenant-in-common).
• Only one property can enjoy owner-occupier rates per person.
• Apply through the IRAS myTax Portal.

2. Budget Rebates:

The government periodically announces one-off property tax rebates during the annual Budget. These vary from year to year. For example:

• In Budget 2024, owner-occupied residential properties received a property tax rebate of up to S$100.
• Non-residential properties (commercial and industrial) may receive separate rebate packages during economic downturns.

3. Remission for Vacant Land:

Owners of vacant land that is not producing income may apply for a remission on their property tax under certain circumstances.

4. Appeal on Annual Value:

If you believe IRAS has overestimated the Annual Value of your property, you can file an objection within 30 days of receiving your property tax bill. IRAS will review the AV based on comparable rental transactions in your area.

5. Hardship relief: In cases of genuine financial hardship, property owners may write to IRAS to request for assistance or an installment payment plan.

How to apply: Most applications and objections can be done online via the IRAS myTax Portal or by writing to the Chief Assessor at IRAS.