.......owner kpkb already paying income tax for rental income still need to cough out $270K for property tax.....

[mospeado]

Not my problem

 

[unrealx262]

Kumgong. Buy more property hahahaha

 

[Acetron]

ownself stay or tenanted

 

[coern]

we should all be glad this owner kena taxed more... the estimated monthly rental for the property is $65k!!!

is not some poor hdb dweller that needs subsidies.

 

[ahnyaahnya]

Huh ? He so rich? Annual value of his house is $780,000?
His house bigger and better than Ridout?

 

[Mechafanboy]

This is a form of Wealth tax Liao. Makes sense, since sinkies love to park their wealth in property.

 

[zueinder]

For the peasants to understand the scale, typical 5-rm only considered as $11k annual value, condo median is $23k annual value and landed private property $37k annual value. The actual rent is much higher than the annual value that is placed on it.

This person $780,000 annual value means he probably has multiple properties, few million in rental income per year. Have some perspective before you type anything.

On second thought, even if is $780,000 of rental income per year also no problem. dunno jjww for what.

 

[ahnyaahnya]

ownself stay or tenanted

"Non owner occupied ".

 

[beer4105]

but not wrong to be alarmed....

if owner is also at highest tax bracket of 24%, then he is paying total 429k (worked in the 15% deemed exp) in taxes for the 780k rental...I.e. govt takes almost 55% away....

I think iras need to re-think liao

 

[m0n0n0ke]

very rich problem

 

[kreja]

Does it mean her property is worth about 900k - 1mil? So its a condo unit? How much can condo rent per month? Whats her net profit?

 

[Justanewbie]

Knn earn $ never see him kpkb, pay tax then jjww.

Do your part, pay your taxes.

 

[Water Bottle]

If he only have a 3 room flat, with no other properties, will he kpkb before paying 270k property tax?

Problem/trouble he ownself find.

 

[gnoes85]

Should not tax those live on hdb. For privates one, pls tax more

 

[curahee]

Probably own a few properties to rent out. This one is rich ppl issue. Kpkb pay the tax still the same wealth. Will not affect them at all


Read HWZ Forum Rules!

 

[Handyman8888]

Huh ? He so rich? Annual value of his house is $780,000?
His house bigger and better than Ridout?

That is considered the median as some are rent to the tune of over $120k per month.
Which has AV close to 1.5 m or so if taken as exact.
So IRAS is too kind to these folks liao cos they base not on the exact AV these properties are rent out but an estimate which falls around the median.
For lower ses folks, they even take the lower median, that is the slightly 1/3 of the real actual rent as it is valued now.

Thanks...Lawrence....cos I low ses mah!

 

[Kunkka]

Does it mean her property is worth about 900k - 1mil? So its a condo unit? How much can condo rent per month? Whats her net profit?

It's worth 780k in annual rent. And annual value is Conservative estimates

 

[Mechafanboy]

So gahmen has managed to p*ss off everyone; the poor and middle class with their inflationary policies, and the elites with their significantly increased property taxes...

 

[rizhal]

Curious. I am on e-notice letter for many years. This owner opted for physical letter from IRAS. Interesting

 

[Kunkka]

Probably own a few properties to rent out. This one is rich ppl issue. Kpkb pay the tax still the same wealth. Will not affect them at all


Read HWZ Forum Rules!

To see them complain about property tax now. Tells you how much they have been getting away with it with no capital gains tax