Log out

You’re logging out from your Ohmyhome account. Continue?

Chat With Us

Property News: Tax Waivers for Rental, Property, and Others Affected by COVID-19

Ohmyhome

A supplemental budget called the “Resilience Budget” worth more than S$48 billion will be helping businesses hit by the coronavirus pandemic. This was announced by Deputy Prime Minister Heng Swee Keat on Thursday (March 26).

The key measures are:

  • Help with property and income taxes
  • Rent waivers enhanced
  • Million-dollar packages for worst-hit sectors
  • More help in loans for small and medium-sized enterprises (SMEs)

With regards to property:

  • Restaurants, shops, hotels and tourist attractions will pay no property tax for 2020.
  • Businesses in other non-residential properties – like offices or industrial properties – will get a 30% property tax rebate.
  • Income tax payments will be deferred for three months for firms and self-employed persons, with no application required.
  • Public agencies, including the Housing Board and National Arts Council, will waive rent for eligible tenants for two months, up from half a month set out earlier.

Source: The Straits Times

Subscribe to the property newsletter read by 350,000 homies

Get our finest insights sent straight to your inbox. Enter your best email.
Unsubscribe anytime.

Consult an expert for free!

Send us your details and we’ll be in touch within 15 min (daily 9am to 9pm GMT +8).

or

Contact us your way

Talk to us today. Available daily 9 AM to 9 PM (GMT +8)

Our finest insights you'll be looking forward to receive.

Read by 200,000 Homies. Enter your best email below to join in.

Unsubscribe anytime.

SHARE WITH YOUR FRIENDS!

Featured Blogs

Highlighting unique property views for every Singaporean