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Updated by IRAS We understand your challenging financial situation and that your home is more than bricks and mortar. It holds deep personal value.
However, the AV of a property is assessed based on market rental evidence, and not on personal circumstances. While we are unable to reduce the AV of your property, we understand that property taxes can be a financial concern.
To assist you with your tax obligations, IRAS offers an interest-free instalment payment plan for up to 24 months to provide flexibility to lower your monthly instalment payments. To explore your options, you may apply for a longer payment plan via the ‘Apply/Manage GIRO Plan’ digital service at myTax Portal. Please note that instalment plans are only available if you choose to pay via GIRO.
If you are residing at your property, you will be enjoying the lower owner-occupier concession, as compared to higher tax rates for residential investment properties. The Government also granted property tax rebates for owner occupied properties in years 2023 to 2025, to help Singaporeans with cost-of-living concerns. These are measures to assist homeowners to manage their tax obligations.
I am a retiree with sentimental attachment to my home. I no longer draw any monthly income, and I am the sole caregiver for my spouse who has many medical ailments. Can my circumstances allow for my AV be lowered so I can afford my property taxes, medical fees, and daily living expenses?
However, the AV of a property is assessed based on market rental evidence, and not on personal circumstances. While we are unable to reduce the AV of your property, we understand that property taxes can be a financial concern.
To assist you with your tax obligations, IRAS offers an interest-free instalment payment plan for up to 24 months to provide flexibility to lower your monthly instalment payments. To explore your options, you may apply for a longer payment plan via the ‘Apply/Manage GIRO Plan’ digital service at myTax Portal. Please note that instalment plans are only available if you choose to pay via GIRO.
If you are residing at your property, you will be enjoying the lower owner-occupier concession, as compared to higher tax rates for residential investment properties. The Government also granted property tax rebates for owner occupied properties in years 2023 to 2025, to help Singaporeans with cost-of-living concerns. These are measures to assist homeowners to manage their tax obligations.
This information is sourced from IRAS.
Related questions
6. I am on GIRO. Why is IRAS deducting from my bank account when I have not received my tax bill for this year?
My employer has filed for my tax clearance. How do I pay my income tax balance? Can I continue to use GIRO?
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I have only worked for less than half a year in Singapore. Why is my income tax so high?
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The following are common enquiries that can be addressed through other dedicated digital services and do not require an objection to be filed: (i) [Owner-occupier concession] I only own one property. I have moved back into my property which was previously let out. Please revise the tax rate/AV accordingly. (ii) [Newly completed landed residential property] My property is recently completed and have obtained TOP/CSC. Please revise my AV accordingly. (iii) [GIRO instalment plan] I would like to apply for GIRO instalment/ make changes to my existing GIRO instalment payment plan.
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