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IRAS to raise annual values of HDB flats

Posted on 18 Nov 2009 | Comments Off

The Inland Revenue Authority of Singapore (IRAS) will raise the Annual Values (AVs) of HDB flats with effect from 1 January 2010.

To help HDB homeowners adjust to the AV increase, the government will grant a one-off property tax rebate to all HDB owner-occupiers for the property tax payable in 2010.

There are two existing property tax rebates; the $100 rebate and the 40% rebate that were provided as part of Budgets 2007 and 2009 respectively. They are both scheduled to expire in 2009.

To help HDB homeowners adjust to the January 2010 AV increase, the government will grant a new property tax rebate to all HDB owner-occupiers for property tax payable in 2010. This new rebate granted to HDB owner-occupiers will apply to property tax payable in 2010 after deducting the 1994 GST Rebate which is available to all residential property owner-occupiers.

The new rebate is set at 50% of the property tax payable and capped at $120.

To provide more help to owner-occupiers of smaller HDB flats, the rebate will be the lower of $50 or the actual property tax amount. This means that flats with a property tax of $50 and below will not need to pay property tax in 2010.

With the new property tax rebate for HDB owner-occupiers and the ongoing 1994 GST Rebate, all 1- and 2-room HDB owner-occupiers will continue to pay zero property tax in 2010.

For average 3-room HDB owner-occupiers, the increase in property tax in 2010 after deducting the special rebates will be $72 for the year as a whole. For 4-room HDB owner-occupiers, the average tax increase will be $97 for the year as a whole. For 5-room HDB owner-occupiers, the average tax increase will be $107 for the year as a whole, and for Executive HDB owner-occupiers, $103.

Source : Channel NewsAsia – 18 Nov 2009

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Posted in Tax Matters / Property Tax

Tagged Annual Values, HDB, HDB News, Inland Revenue Authority of Singapore (IRAS), Property Tax

Under S$50 tickets for Universal Studios theme park on Sentosa

Posted on 18 Nov 2009 | Comments Off

Visitors are one step closer to visiting Southeast Asia’s first and only Universal Studios theme park opening on Sentosa’s Resorts World, now that ticket prices have been revealed.

Sale of tickets shouldn’t be too far on the horizon with Resorts World Sentosa announcing on Wednesday its one-day, two-day and express pass ticket prices that range from S$32 to S$118 to access all attractions.

“We have pegged ticket prices for Universal Studios Singapore at an incredible value compared to major theme parks worldwide” said Shirly Chen, Vice President (Sales Development), Resorts World Sentosa.

The Universal Studios Singapore passes start from a weekday rate of S$66 for an adult and S$48 for a child, with seniors enjoying a special rate of S$32. The price is between S$72 and S$36 for visits on weekends and public holidays.

The price is also attractive for tickets to visit the theme park over two consecutive days, with the highest tag being S$118 for an adult two-day pass.

“As Singapore’s IR, a place for every Singaporean, it is also our aim to reach out to everyone, not forgetting grandmas and grandpas” said Chen.

Resorts World Sentosa, will open early next year with four hotels, a casino and a host of shopping, dining and entertainment offerings, along with the Universal Studios Singapore theme-park.

Ticket sales and room reservations will be launched at a later date, in conjunction with exclusive packages for a charity auction.

Universal Studios Singapore will feature 24 attractions, including the world’s biggest single collection of DreamWorks Animation attractions such as the world’s first Far Far Away Castle from the world of Shrek; Madagascar theme park ride and the world’s tallest dueling roller coaster.

Source : Channel NewsAsia – 18 Nov 2009