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Hi Amaravathi,

I would be most glad to assist you further and please feel free to let me know if you need any assistance. Have a good day ahead. By the way, you may like to check with your bank.

Regards
Aaron Chong
 9730 8455 
aaronchong2774@yahoo.com.sg Read More

Hi Amaravathi,

For tenanted residential property only

From YA 2016, you can claim rental expenses derived from a residential property in Singapore, based on either:

(a) An amount of deemed rental expenses of 15% of the gross rent (apart from mortgage interest), subject to conditions; or

(b) The amount of actual rental expenses incurred.

A residential property does not include any property that has been given approval for any non-residential use such as that of a child care centre and workers’ dormitory.

· If you opt to claim rental expenses based on the deemed rental expenses of 15% of the gross rent

(a) 15% of the gross rent will be allowed as rental expenses (apart from mortgage interest). You are not required to keep records of the rental expenses incurred;

(b) In addition you can also claim mortgage interest incurred on the loan taken to purchase the property rented out, if any. You are required to keep the supporting documents relating to the mortgage interest for at least 5 years for verification purposes;

(c) The deemed expenses option must apply consistently to all other residential property.

The deemed expenses option is not applicable under the following circumstances:

(a) You did not incur any deductible expense (apart from mortgage interest) in respect of the rental income derived; or

(b) You derived the rental income through a partnership in Singapore; or

(c) You derived the rental income from a property held under a trust.

· If you opt to claim rental expenses based on the actual rental expenses incurred

Please retain supporting documents such as tenancy agreements, bank mortgage statements, invoices and receipts for at least 5 years for verification purposes.

The above is found on IRAS website. You have to retain supporting documents such as your loan statement to claim the mortgage loan interest as an expense.

You can reach out to me at 83885426  to discuss further. I would be happy to assist you and answer any questions you have.

Joseph Ng
Associate Marketing Director
 83885426 
Propnex Realty
joseph.ngts@propnex.com Read More

Hi Amravathi,

You should be speaking to a tax consultant instead of real estate agents on this subject matter.

I have been in the real estate business since 2009, with more than 13 years of experience serving the Singapore real estate market.

I am very active in the residential segment of Singapore real estate market, having transacted hundreds of deals from HDBs to private condominiums and landed properties in Singapore, and have handled many unique cases in sales and purchases as well as rental deals.

Over the years, I have also established a network reaching out to more than 9,400 expatriates, bringing my market presence to both in and outside of Singapore. This has created an additional exposure when I manage my client's portfolios, on top of the conventional on and offline platforms, where other estate agents are relying on. This has allowed me to consistently convert leads into results.

With an evolving market, where change is the only constant, I have also been investing in upgrading of my knowledge and skills sets to improve myself and meet the demands of current and future market.

We are offering our clients a complimentary first consultation without obligations (Absolutely FREE!). Schedule for your FREE session today!

Warmest regards,
Geryl Lim
Associate Group Director
Salesperson Registration No. R014783H
Email: geryl.lim@orangetee.com / geryl7772@gmail.com
OrangeTee & Tie Pte Ltd 430 Lorong 6 Toa Payoh #01-01 OrangeTee Building Singapore 319402
Estate Agent Licence No. L3009250K
[main] +65 6471 8888  [mob] +65 81577565  [LDA] +65 92787772 
www.geryllim.com

My self introductory video on https://www.youtube.com/watch?v=S_2NydENfx0

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Note: We value your home as much as you do! Find out the indicative value of your home at http://bit.ly/UrHomeMatters and get monthly update on your home value. Restructure your portfolio with us, speak to us!

Tenants can visit http://bit.ly/SGExpatRental (Official Rental Requirements - Singapore Expatriates) to indicate your rental requirements.

Visit and Like my facebook page at https://www.facebook.com/GerylLimSince2009/ - Aspiring To Be The Best Real Estate Agent In Singapore

Pick up knowledge, skills and Real Estate concepts at https://www.facebook.com/RealEstateXcellence/

New Singapore Expatriates on facebook is up and running. Come join us at https://www.facebook.com/groups/newsgexpats/

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Landed Dynamic Alliance
Home of *7772 Hotline
Check out our latest Landed Dynamic Alliance 7772 mobile application on iOS or Android @ http://l.ead.me/7772 Read More

Hi Amaravathi,

You will not be able to claim mortgage interest as the flat has already been fully paid up.

I am experienced and well-versed in both HDB and private transactions. I will be able to assist you in your property plans. Please get in touch with me for a more in-depth discussion.

Should you need require further assistance in matters relating to property, please contact me at my mobile 9748 6305  . I will be happy to assess and share with you the possibilities for you in the current market.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More

Hi, hopefully you managed to get your doubt or query answered. If so, then congrats! Hopefully you are doing well now.

If you are currently or planning to find a property agent, I can assist.

If you are interested in prices of houses in your neighbourhood, you may visit this website to find out more or contact me.

https://www.era.com.sg/R064892F

If you are currently planning to go on a property journey selling/buying/renting/investing, I can be of assistance. Do feel free to reach out to me for more queries and assistance.

Landon Chew
97 39 60 40
landonchew@email.com Read More