Current Owner-occupied residential properties are taxed by applying the applicable marginal tax rate on the portion of the property’s AV.
Proposed With effect from 1 January 2025, the AV bands of the owner-occupier residential PT rates will be adjusted as follows:
Table: Changes to Owner-Occupied Residential PT Rates
| Marginal PT Rate | Portion of AV | Portion of AV |
|---|---|---|
| From 1 Jan 2024 to 31 Dec 2024 | From 1 Jan 2025 (i.e. from 2025 PT bills) | |
| 0% | $0 - $8,000 | $0 - $12,000 |
| 4% | >$8,000 - $30,000 | >$12,000 - $40,000 |
| 6% | >$30,000 - $40,000 | >$40,000 - $50,000 |
| 10% | >$40,000 - $55,000 | >$50,000 - $75,000 |
| 14% | >$55,000 - $70,000 | >$75,000 - $85,000 |
| 20% | >$70,000 - $85,000 | >$85,000 - $100,000 |
| 26% | >$85,000 - $100,000 | >$100,000 - $140,000 |
| 32% | >$100,000 | >$140,000 |
Current Property owners who sign up for GIRO payment can enjoy a 12-month interest-free instalment payment plan for PT bills.
Proposed To better support retirees, the 12-month interest-free GIRO instalment plan offered by Inland Revenue Authority of Singapore (IRAS) will be extended to up to 24 months, effective from PT bill 2024, for retirees who meet the following criteria:
Eligible retirees can apply for EGS Residential Property (Retirees) via IRAS’ website or contact IRAS for more details.
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