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TO Marry december 3, 2011 | www.todayonline.com
avaILabLE aT MaJOr HEr rapIST
SHOppINg MaLLS aNd aLL NEWS HOTLINE 6822 2268 | a pubLIcaTION Of | MIca (p) 200/02/2011
STarbuckS OuTLETS world 23
Strong US job data
shine a ray of hope HdB property tax to rise,
rebate to ease impact
WASHINGTON — The labour a 210,000 gain from 158,000.
market in the United States un- Economists had forecast
expectedly strengthened last payrolls would rise by 120,000
month, with the jobless rate last month and that the jobless
falling to its lowest level since rate would remain at 9 per cent. SINGAPORE — Property tax on Hous- prOpErTy Tax cHaNgES fOr OWNEr-OccupIEd Hdb HOMES
March 2009 as private employ- The job report is the lat- ing and Development Board (HDB)
ers in the world’s largest econ- est sign that the economy is on flats is set to rise from next year, after 3-room 4-room 5-room Executive
omy stepped up hiring in re- firmer footing than it was just annual values (AV) of HDB flats were
sponse to the gradual recovery. two months ago, when fears of yesterday revised upwards with ef-
range of annual property s$0 to s$60 to s$96 to s$108 to
Stock markets welcomed a double-dip recession mount- fect from January to reflect the in-
tax payable in 2011 s$36 s$120 s$144 s$156
the data, with the Dow Jones ed. The latest figures come less crease in their market values. range of annual property tax
s$$0 to s$77 to s$125 to s$137 to
Industrial Average up 0.5 per than two weeks before the US However, the Government will payable in 2012 after s$55
owner-occupied Hdb rebate
s$41 s$125 s$173 s$185
cent in early trade. In late Euro- Federal Reserve’s next policy- roll out a one-off S$55 rebate to
pean trade, London’s FTSE was making meeting. After taking cushion the impact on lower- and range of increase in
steps in August and September -s$7 to s$5 to s$17 to s$17 to
up 1.4 per cent, Germany’s DAX middle-income households. This is property tax after s$55
rose 1.3 per cent, while France’s to spur growth, the Fed is ex- for flats that are occupied by their owner-occupied Hdb rebate
s$5 s$29* s$29 s$41
CAC gained 1.8 per cent. pected to pause until next year owners. The Ministry of Finance and * The MajoriTy of four-rooM owner-occupied hdB flaTs will see an increase of
The unemployment rate as it assesses the US economic the Inland Revenue Authority of Sin- s$5 To s$17 in properTy Tax. only 2 per cenT of owner-occupied four-rooMers
will see an increase of s$29. SOurcE: IraS
fell to 8.6 per cent in November landscape and follows develop- gapore (IRAS) said in a statement
from 9 per cent in the previous ments in Europe’s debt crisis. yesterday that 94 per cent of all flat in the HDB market rents in the pre- and therefore have higher AVs.
month, the US Labor Depart- owners will receive the rebate. ceding year was small. The new AVs The one-off rebate is a fixed
ment reported. The rate hadn’t The unemployment All one- and two-room owner- take effect from January 2012. amount of $55 or the property tax
been below 9 per cent since occupiers of HDB flats will con- Taking last year and this year based on the 2012 AV, whichever is
March, when it was 8.8 per cent. rate fell to 8.6 per tinue to pay zero property tax next together, market rents have risen lower. It will be automatically given.
The rate is now lower than at cent in November, year, while those in three-room by around 20 to 28 per cent. Ac- The rebate will not apply to
any point since March 2009, flats will on average pay roughly cordingly, the AVs of all HDB flats HDB flats that are not owner-oc-
when it was 8.6 per cent as well. and is now lower the same tax as last year. Owners will be revised upwards. cupied, which are currently being
Mr Todd Schoenberger, than at any point or four- or five-room flats will pay Said Mr Ku Swee Yong, chief taxed at 10 per cent.
managing director of Landcolt S$5 to S$29 more for the year. executive of International Property Most HDB flat owners should
Trading, said on CNBC: “Today’s since March 2009. The AV, which is reviewed an- Advisor: “The increase is consist- receive their property tax notices
jobs report is a game changer for nually, is the estimated rent that a ent with what we have seen in the and bills by the end of this year.
Main Street. Americans will focus Also underpinning market property can fetch per year if it were market, given that HDB flat prices Property tax has to be paid by
on the drop in the unemploy- sentiment yesterday was a re- rented out in the open market. Prop- have risen for the last four quar- Jan 31 next year.
ment rate, rather than getting port that a European proposal erty tax is calculated at 10 per cent of ters, sometimes in even greater Owners can e-file an objection
into the weeds of how we got to channel central bank loans the AV of an owner-occupied home. percentages than in the private to IRAS if they do not agree with
there. Look for confidence and through the International Mon- The AVs of all HDB flats were market. So it is to be expected.” the revised AVs of their properties.
sentiment to improve, which etary Fund (IMF) may deliver as last revised in January 2010, taking The IRAS arrives at the AV by Information on payment modes
could translate into an improved much as €200 billion (S$346 bil- into account the changes in market analysing the latest rents of compa- and details of property tax and AV
outlook as we enter 2012.” lion) to fight the debt crisis. rents in 2009. They were not revised rable HDB flats that have been rent- revision are available at www.iras.
US non-farm payrolls rose Under the proposal, national this year as the increase ed out, taking into account their gov.sg. Taxpayers with enquiries
120,000 last month as private central banks would recycle location and flat type. Generally, may call 1800-356 8300 or email
companies added a combined funds through the IMF, poten- the bigger flats in better locations email@example.com.
140,000 jobs while the public tially to underwrite precaution- fetch higher market rents
sector shrank by 20,000 jobs ary lending programmes for
amid budget cuts. In another Italy or Spain, the two countries
positive development, Octo- judged to be the most vulner-
ber’s figure for non-farm pay- able now, reported Bloomberg,
rolls was revised upwards to which cited two people familiar
show a gain of 100,000 from a with the plan. They declined to
previously reported 80,000 and be named because the talks are
September’s was revised up to at an early stage. agENcIES
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