Originally Posted by
Abcd1234
Hi guru in this forum,
Just bought a private condo, was asked by seller (via seller's legal) to pay for remaining property tax for year 2012. Seller paid 10% property tax as 'investor mode' to IRAS for year 2012.
This condo will be for my own self stay. I heard 'occupier mode' is just to pay property tax to IRAS of 4% of property annual valuated rental.
My believe is property should be paid or refund via IRAS who really care if property is own-stay or for investment.
Is this seller doing the right thing?
You will pay first, claimed back (if for own stay) later from IRA. Your lawyer will advise you how to claim when you took over the unit.
I did that once before. I claimed back the 2%.
Daft, Dafter, Dafterest!!!!