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The Auto-Inclusion Scheme (AIS) enables employers to submit the employment income information of their employees to IRAS electronically. [6] The information will then be automatically pre-filled in the employees' income tax assessment. Property owners with rental income may make claims on the total amount of their rental expenses.
In the 1990s and 2000s, the HDB introduced upgrading and redevelopment schemes for mature estates, as well as new types of housing intended to cater to different income groups in partnership with private developers. The HDB was reorganised in 2003 to better suit Singapore's housing market in the 2000s.
Most public housing in Singapore is lessee-occupied. Under Singapore's housing leasehold ownership programme, housing units are sold on a 99-year leasehold to applicants who meet certain income, citizenship and property leasehold ownership requirements. The estate's land and common areas continue to be owned by the government. [79]
It will be replaced by Voluntary Early Redevelopment Scheme (VERS) in 20 years time. Only 4% of HDB flats have been identified for SERS since it was launched in 1995. [ 1 ] All residents displaced by the redevelopment works are offered a new 99-year lease in new flats constructed nearby.
The Istana is the official residence of the President of Singapore. The reserves of the Government of Singapore is a collection of assets, after subtracting for liabilities, owned by the Government of Singapore and the entities listed in the fifth schedule of the Constitution , such as the Central Provident Fund (CPF), Housing and Development ...
Design, Build and Sell Scheme (abbreviation: DBSS) was introduced by the Housing and Development Board in 2005. Flats built under the scheme were meant for public housing and developed by private developers. They were built with supposedly better designs and mostly in matured estates such as Tampines, Ang Mo Kio and Bishan. There were 13 DBSS ...
Since 1 January 2011, all property agencies and agents must hold a valid licence or registration respectively, if they wish to conduct any work relating to the sale and leasing of residential, commercial and industrial properties in Singapore.
To calculate the loss on residential property that was converted into a rental, prior to the sale of the property, Treasury Regulation section 1.165-9(2) states that the basis of the property will be the lesser of either the fair market value at the time of conversion or the adjusted basis determined under Treasury Regulation section 1.1011-1.