Category Archives: Tax Matters / Property Tax

The Edge: Government won’t allow a property bubble

Posted on 30 Jul 2009 | Comments Off on The Edge: Government won’t allow a property bubble

AFTER WEEKS OF watching property prices and private property sales burgeon, the government has made its stand fairly clear. It will not tolerate a property bubble this time around. Certainly, it won’t allow local property prices to get out of hands.

National Development Minister Mah Boh Tan said today that Singapore was “monitoring the market closely” to prevent any froth and had the tools in hands to stop a bubble from developing. “I think the some of the practices and habits you saw in the last property boom are beginning to come back,” Mah said. “We will take whatever actions to prevent such a situation from happening, but it is important for buyers themselves to be aware.” Continue reading →

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No Fear of Property Gains Tax on Show

Posted on 14 Jul 2009 | Comments Off on No Fear of Property Gains Tax on Show

Investors, home seekers throng property launches over weekend

FEAR and uncertainty over how gains from property sales would be taxed vanished as quickly as they came last week.

Home seekers still thronged showflats over the weekend and smaller apartments remained popular picks.

Turnout at property launches was healthy, observed DMG & Partners Securities analyst Brandon Lee, who visited a handful of showflats in the last few days.

News that the government could change income tax laws on profits from property sales did not seem to have an adverse impact, he said.

Word got round last Wednesday of a proposal to make current laws clearer – by guaranteeing that anyone who sells only one property in any four-year period will not be taxed on the gains. Continue reading →

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