Asked by WEI HUAN CHUAH
Seek Advice on Property Tax
My wife owns an HDB that is still under MOP until Sept 2027. I bought a condominium in May 2024 before we got married recently.
Recently, IRAS sent us a letter stating that married couples are only allowed to enjoy the owner-occupier property tax rate for one property. So we must choose either the HDB or the condo for the lower “own stay” tax rate, while the other will be taxed as non-owner-occupied. The HDB is currently occupied by my wife’s parents and siblings, who do not own any other property.
Financially, it makes more sense for us to apply the owner-occupier rate to the condo instead, and let the HDB be taxed at the normal (non-OO) rate. Is it allowed to choose the condo for the owner-occupier tax rate while the HDB (occupied by family members) is taxed at non-owner-occupier rates, even though the HDB is still within its MOP?
My wife owns an HDB that is still under MOP until Sept 2027. I bought a condominium in May 2024 before we got married recently.
Recently, IRAS sent us a letter stating that married couples are only allowed to enjoy the owner-occupier property tax rate for one property. So we must choose either the HDB or the condo for the lower “own stay” tax rate, while the other will be taxed as non-owner-occupied. The HDB is currently occupied by my wife’s parents and siblings, who do not own any other property.
Financially, it makes more sense for us to apply the owner-occupier rate to the condo instead, and let the HDB be taxed at the normal (non-OO) rate. Is it allowed to choose the condo for the owner-occupier tax rate while the HDB (occupied by family members) is taxed at non-owner-occupier rates, even though the HDB is still within its MOP?
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