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Hi, I am an SPR (granted 2 years ago) and bought a condo one year ago. I plan to renounce my SPR. May I ask whether there are implications on my property and what will my tax rate be for rental income? thanks!
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2 Answers

YT Tan (陈永达)
Good evening owner,

Not to worry. You are still able to hold on and rent out your unit as a foreigner.

As for tax rates as a foreign owner, it depends on whether you are a tax resident (progressive rate) or a non tax resident (22%).

https://www.iras.gov.sg/irashome/Individuals/Foreigners/Learning-the-basics/Individuals--Foreigners--Required-to-Pay-Tax/

https://www.iras.gov.sg/irashome/Individuals/Locals/Working-Out-Your-Taxes/Income-Tax-Rates/#title2

Hope my explanation helps!

If you need any assistance in your property needs, feel free to contact me. Cheers!

"Your Freehold Ally, Leasehold Tactician"

YT TAN 陈永达 | ACCA Graduate, RES
Associate Group Director
R043025D
Propnex Realty Pte Ltd
Blk 480 Lorong 6 Toa Payoh, #11-95 HDB Hub East Wing, Singapore 310480

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Dear Sir/Mdm,

You are able to hold on to your property even if you renounce your SPR. As for the tax implications, you will be liable for the higher tier tax rates as mentioned by my colleagues.

I have assisted my clients to rent and manage their properties while they reside overseas. Please feel free to contact me if you need further advice!

Regards,
Nick Tan
(M) +65 9644 4854 
B.Eng(Chemical)(Hons)(NUS)
Cert-in-REA
(E) nick96444854@gmail.com
(W) www.nick-tan.com

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