WorksheetsREDAS-RSM Bi-Centennial Quiz
Total questions: 20
Worksheet time: 10mins
Property tax rates on owner-occupied and non-owner occupied residential properties are based on progressive tax rates (ranging from 0% to 16%, and 10% to 20% respectively). For non-residential properties e.g. industrial buildings, property tax is:
At progressive tax rates
At 10%
Not applicable
None of the above
Property tax is determined by applying the relevant tax rate on the annual value of the property. The annual value is the estimated gross annual rent of the property if it were to be rented out, excluding furniture, furnishings and maintenance fees. It is determined based on:
Estimated market rentals of similar or comparable properties
Actual rental income received
The annual value of properties can be obtained from the Inland Revenue Authority of Singapore e-Service portal.
true
false
Will the gain derived from the sale of my property be taxable in Singapore?
Yes
No
It depends. Capital gain is not taxable while revenue gain is taxable.
I am renting out my property. The rental income would be considered taxable income in my hands at:
Date of actual receipt
Date when it is due and payable to me (the property owner)
My spouse and I each share 50% legal ownership of our residential property which is rented out. Since my spouse receives all the rental income, should all the rental income be declared and taxed in my spouse’s name?
Yes, the entire rental income should be taxed in my spouse’s name.
No, rental income is taxed on all joint owners based on their legal share in the property, regardless of who receives the rent.
The following relate to expenses incurred during rental period on the rented property. Which is non-allowable for tax deduction against the rental income?
Interest paid on loan taken to purchase property that is rented out
Fire insurance premium
Penalty imposed by bank for late repayment of loan
General repairs and maintenance
Buyer’s stamp duty rates of up to 3% is applicable to acquisition of non-residential properties.
true
false
Buyer’s stamp duty rates of up to 4% is applicable to acquisition of residential properties.
true
false
Additional buyer’s stamp duty (“ABSD”) liability will depend on the profile of the buyer as at the date of purchase or acquisition of the residential property which is/are:
Whether the buyer is an individual or an entity
The residency status of the buyer
The count of residential properties owned by the buyer
All of the above
In 2019 what was the total value of public sector residential projects awarded in Singapore?
$535M
$1.15B
$2.12B
$6.28B
In 2018 what was the number of residential dwellings registered in Singapore?
1.42M units
1.67M units
1.83M units
2.05M units
In 2018 the ratio of landed to non-landed residential properties was 19%.
True
False
In 2018 what proportion of Singapore’s property comprised of private apartments and condominiums?
0.16
0.27
0.21
0.32
In 2019 what was the total value of private sector commercial projects awarded in Singapore?
$1.83B
$3.65B
$2.17B
$4.26B
What is the additional buyer stamp duty for Singaporeans owning a third property or more?
0.1
0.2
0.15
0.25
What is the property enbloc owners’ minimum consensus ratio that must be achieved for a property less than 10 years old?
0.95
0.9
0.85
0.8
What is the High Density Gross Plot Ratio in Singapore as defined by URA?
More than 2.8 times
Up to 2.1 times
Up to 2.5 times
Up to 2.8 times
What are the two sectors of focus under the Singapore Real Estate Industry Transformation Roadmap?
Property transaction services and construction engineering sector
Facilities management and property transaction services sector
Residential developers and facilities management sector
Real estate consultancy and building automation sector
If a real estate agent markets a new development through generic flyers addressed to ‘The Resident’ distributed in mail boxes, is this an act that demonstrates the collection and use of personal data?
Yes
No
