The recent Budget 2022 announcement unveiled a set of changes to the existing property tax structure. This has led to many property owners and investors wondering how they will be affected?
We break it down below and debunk any myths and confusion in the market. It is good to know that most HDB and suburban private owners are not affected by these changes. The objective of the tax change is more likely to affect luxury homeowners and investors who are renting out their properties for rental yield.