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I would like to ask for pte property letting, do you include maintenance fee into the rental package or the tenant pays separately on top of the usual rental? Thanks.
You collect the rent and maintenance fee becomes part of your expense and owners can claim in their annual income tax returns. You cannot claim any additional rental when there is an increase in maintenance fee midway ion the contract.
I would like to ask for pte property letting, do you include maintenance fee into the rental package or the tenant pays separately on top of the usual rental? Thanks.
You collect the rent and maintenance fee becomes part of your expense and owners can claim in their annual income tax returns. You cannot claim any additional rental when there is an increase in maintenance fee midway ion the contract.
Thanks for your prompt answer :)
just remember to file them in ur income tax as expense.
You collect the rent and maintenance fee becomes part of your expense and owners can claim in their annual income tax returns. You cannot claim any additional rental when there is an increase in maintenance fee midway ion the contract.
Who decided owner pay maintenance fee?
In France, tenants pay maintenance fee. It cheaper to rent landed than apartment.
http://www.seloger.com/recherche.htm?org=engine&idtt=1&ci=330529&idtypebien=1,2&&ANNONCEpg=5
just remember to file them in ur income tax as expense.
Will do, thanks.
Who decided owner pay maintenance fee?
In France, tenants pay maintenance fee. It cheaper to rent landed than apartment.
http://www.seloger.com/recherche.htm?org=engine&idtt=1&ci=330529&idtypebien=1,2&&ANNONCEpg=5
Owner pay maintenance fee, is industry practice, not a rule or law. Landlord can draft the TA in any fashion, but will a tenant agree to a variable rental?
France is a totally different environment, where the bulk of the residents are renters, unlike sg where the bulk of the residents are owner occupiers. I would think the landlords in France adopt the hands off approach, thus the renters pay the maintenance fee.
just remember to file them in ur income tax as expense.
Is there any other expenses that we can claim while filing the income tax, eg purchase of furnitures, lighting, curtains, TV, radio etc for the purpose of rental?
Interest rate incurred from mortgage, agent's commission (not eligible for just TOP property), reinstatement of property (not eligible for just TOP property) etc. You can find more at IRAS.
Is there any other expenses that we can claim while filing the income tax, eg purchase of furnitures, lighting, curtains, TV, radio etc for the purpose of rental?
Interest rate incurred from mortgage, agent's commission (not eligible for just TOP property), reinstatement of property (not eligible for just TOP property) etc. You can find more at IRAS.
more details can be found here:
http://www.iras.gov.sg/irashome/page04.aspx?id=160
Non claimable expenses
Agent's commission, advertising, legal expenses and stamp duties for getting the first tenant
Claimable espenses
1. Agent's commission, advertising, legal expenses and stamp duties for getting subsequent tenants (of 1st property)
2. Agent's commission, advertising, legal expenses and stamp duties for getting the first tenant of a subsequent (2nd or more) property is deductible against the rental income of that property.
DCC33_2008, I am sure you know that you can claim agent's commissions for your multiple properties, even the recent TOP ones (as long as 2nd or more properties).
more details can be found here:
http://www.iras.gov.sg/irashome/page04.aspx?id=160
Non claimable expenses
Agent's commission, advertising, legal expenses and stamp duties for getting the first tenant
Claimable espenses
1. Agent's commission, advertising, legal expenses and stamp duties for getting subsequent tenants (of 1st property)
2. Agent's commission, advertising, legal expenses and stamp duties for getting the first tenant of a subsequent (2nd or more) property is deductible against the rental income of that property.
DCC33_2008, I am sure you know that you can claim agent's commissions for your multiple properties, even the recent TOP ones (as long as 2nd or more properties).
As long as 1st tenant of a property, cannot claim agent comm against income tax... regardless of 2nd or more property...
Yup. It can be quite substantial.
more details can be found here:
http://www.iras.gov.sg/irashome/page04.aspx?id=160
Non claimable expenses
Agent's commission, advertising, legal expenses and stamp duties for getting the first tenant
Claimable espenses
1. Agent's commission, advertising, legal expenses and stamp duties for getting subsequent tenants (of 1st property)
2. Agent's commission, advertising, legal expenses and stamp duties for getting the first tenant of a subsequent (2nd or more) property is deductible against the rental income of that property.
DCC33_2008, I am sure you know that you can claim agent's commissions for your multiple properties, even the recent TOP ones (as long as 2nd or more properties).
more details can be found here:
http://www.iras.gov.sg/irashome/page04.aspx?id=160
Non claimable expenses
Agent's commission, advertising, legal expenses and stamp duties for getting the first tenant
Claimable espenses
1. Agent's commission, advertising, legal expenses and stamp duties for getting subsequent tenants (of 1st property)
2. Agent's commission, advertising, legal expenses and stamp duties for getting the first tenant of a subsequent (2nd or more) property is deductible against the rental income of that property.
DCC33_2008, I am sure you know that you can claim agent's commissions for your multiple properties, even the recent TOP ones (as long as 2nd or more properties).
Hey, you are rite.... Wa Lau.... I claimed and IRAS told me cannot and my subsequent units i did not claim...:doh::doh::doh::doh:
Hahahaha.... Lucky i read your post... cost got 1 more at least can claim...
:cool::cool:
Hey, you are rite.... Wa Lau.... I claimed and IRAS told me cannot and my subsequent units i did not claim...:doh::doh::doh::doh:
Hahahaha.... Lucky i read your post... cost got 1 more at least can claim...
:cool::cool:
so brother chestnut has been doing charity all these years hor ! :D
why dun you try to backdate if not too long ago ?
so brother chestnut has been doing charity all these years hor ! :D
why dun you try to backdate if not too long ago ?
Hahaha... I kana from a while back... remember receiving a call from IRAS on this and they told me cannot claim... So I stopped claiming on the rest of the properties... hahahahaha
Nevermind lar... must not be too calculative with them... they happy can already...
But thanks for the information... at least can use this on the new topped property recently...:D:D
more details can be found here:
http://www.iras.gov.sg/irashome/page04.aspx?id=160
Non claimable expenses
Agent's commission, advertising, legal expenses and stamp duties for getting the first tenant
Claimable espenses
1. Agent's commission, advertising, legal expenses and stamp duties for getting subsequent tenants (of 1st property)
2. Agent's commission, advertising, legal expenses and stamp duties for getting the first tenant of a subsequent (2nd or more) property is deductible against the rental income of that property.
DCC33_2008, I am sure you know that you can claim agent's commissions for your multiple properties, even the recent TOP ones (as long as 2nd or more properties).
Thank you so much for the link.
Correct me if I'm wrong.
Can I say that if I have 1 ppty for rental only.
1) 1st tenant - cannot claim the agent's commission, advertising, legal and stamp duties.
2) When lease expires, agent helps to get another tenant, then I can start to claim the above expenses - deduct against the rental income of the same ppty.
If I have 2nd ppty to rent.
1) Whether 1 or subsequent tenants also can claim - deduct from rental income of this 2nd ppty.
Hahaha... I kana from a while back... remember receiving a call from IRAS on this and they told me cannot claim... So I stopped claiming on the rest of the properties... hahahahaha
Nevermind lar... must not be too calculative with them... they happy can already...
But thanks for the information... at least can use this on the new topped property recently...:D:D
You are great, contribute to our society.:)
Is there any other expenses that we can claim while filing the income tax, eg purchase of furnitures, lighting, curtains, TV, radio etc for the purpose of rental?
Cannot.. Fixtures are not claimable. however after u rent out any damages or replacement u can claim.
ur agent fees cannot claim if rental is 1st time. only subsequent rental agent fee. u can claim bank interest, mantaince fees , fire insurance, and cost to repair during tenancy.
Thank you so much for the link.
Correct me if I'm wrong.
Can I say that if I have 1 ppty for rental only.
1) 1st tenant - cannot claim the agent's commission, advertising, legal and stamp duties.
2) When lease expires, agent helps to get another tenant, then I can start to claim the above expenses - deduct against the rental income of the same ppty.
If I have 2nd ppty to rent.
1) Whether 1 or subsequent tenants also can claim - deduct from rental income of this 2nd ppty.
Its u cannot claim agent fee if its just TOP 1st rental. only subsequent u can claim
Thank you so much for the link.
Correct me if I'm wrong.
Can I say that if I have 1 ppty for rental only.
1) 1st tenant - cannot claim the agent's commission, advertising, legal and stamp duties.
2) When lease expires, agent helps to get another tenant, then I can start to claim the above expenses - deduct against the rental income of the same ppty.
If I have 2nd ppty to rent.
1) Whether 1 or subsequent tenants also can claim - deduct from rental income of this 2nd ppty.
you are right.
basically iras treats all our properties under 1 portfolio. so cannot claim the agent fee for 1st property's tenancy only... after that can claim for all the rest.
the only query is what if portfolio totally changes in the future, can still claim beyond the first one? OR 2 properties drop to zero and then buy 2 again? guess up to their interpretation then.
you are right.
basically iras treats all our properties under 1 portfolio. so cannot claim the agent fee for 1st property's tenancy only... after that can claim for all the rest.
the only query is what if portfolio totally changes in the future, can still claim beyond the first one? OR 2 properties drop to zero and then buy 2 again? guess up to their interpretation then.
Thank you.
Cannot.. Fixtures are not claimable. however after u rent out any damages or replacement u can claim.
ur agent fees cannot claim if rental is 1st time. only subsequent rental agent fee. u can claim bank interest, mantaince fees , fire insurance, and cost to repair during tenancy.
Thank you.
Hahaha... I kana from a while back... remember receiving a call from IRAS on this and they told me cannot claim... So I stopped claiming on the rest of the properties... hahahahaha
Nevermind lar... must not be too calculative with them... they happy can already...
But thanks for the information... at least can use this on the new topped property recently...:D:D
brother chestnut is really 大方 and 看得开 。:D
long time ago wanted to rent out my previous place and ended up left it empty for more than a year... never claimed vacancy rebate cos blur blur then.
brother chestnut is really 大方 and 看得开 。:D
long time ago wanted to rent out my previous place and ended up left it empty for more than a year... never claimed vacancy rebate cos blur blur then.
Bro lifeline, i share a philosophy I have....
time is better used to find ways to grow money vs time used to cut expenses...
Again, different time, you deploy different strategy.... If cannot find ways to grow money, I strongly advocate cut expenses... hahahahaha
Something like profit and expense.... hahahahaha
Cheers :D:D
Long story... hahahahaha
If the tenant renews the lease, is he considered as 2nd tenant. If it is, that means I can claim the agent's commission for the renewal of the lease, am I right?
If the tenant renews the lease, is he considered as 2nd tenant. If it is, that means I can claim the agent's commission for the renewal of the lease, am I right?
It is better to call IRAS hotline to clarify all your doubts. Better not to rely on forum for tax related matters.
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