Daily Archives: 22 Aug 2009

Anticipating, accelerating, accentuating

Posted on 22 Aug 2009 | Comments Off on Anticipating, accelerating, accentuating

CapitaCommercial Trust shares its ‘triple-A strategy’ for riding through challenging times

FOR a sector that looked extremely vulnerable during the worst of the credit crisis, most real estate investment trusts (Reits) in Singapore managed to turn in steady results in the second quarter of this year.

CapitaCommercial Trust (CCT) was one that met or exceeded analysts’ expectations. Riding on higher rental income and better operating margins, its Q2 distributable income and distribution per unit (DPU) each rose around 33 per cent from a year ago.

But are the skies clear for Reits? Analysts have flagged other challenges to maintaining distributions in a subdued economy – rents are likely to keep sliding and acquisitions may still be hard to carry out.

CCT adopts a ‘triple-A strategy’ in such times, says Lynette Leong, CEO of trust manager CapitaCommercial Trust Management. ‘We anticipate, Continue reading →

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No change to income tax framework for individuals who sell properties

Posted on 22 Aug 2009 | Comments Off on No change to income tax framework for individuals who sell properties

The Ministry of Finance (MOF) said it has decided not to change the income tax framework with regard to individuals who sell their properties.

Currently, there is no blanket rule on how property sale gains are taxed as Inland Revenue Authority of Singapore (IRAS) considers the facts and circumstances of each individual case.

But a proposal was put up for public consultation between June 22 and July 14 suggesting that individuals who sold their properties should be certain that the gains they make would not be taxed if they had not sold any other properties in the preceding four years.

Under all other circumstances, whether the gains from a property sale were subject to income tax would have continued to depend on the facts and circumstances of the case.

After assessing the feedback from the public consultation, MOF said it has decided not to go ahead with the proposed change. Continue reading →

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Posted in Property Market / Real Estate, Tax Matters / Property Tax

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