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.
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.
just remember to file them in ur income tax as expense.
“Nothing in the world is more dangerous than sincere ignorance and conscientious stupidity.”
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OUT WITH THE SHIT TRASH
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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...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.
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).
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...
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.
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.
“Nothing in the world is more dangerous than sincere ignorance and conscientious stupidity.”
― Martin Luther King, Jr.
OUT WITH THE SHIT TRASH
https://www.facebook.com/shutdowntrs
“Nothing in the world is more dangerous than sincere ignorance and conscientious stupidity.”
― Martin Luther King, Jr.
OUT WITH THE SHIT TRASH
https://www.facebook.com/shutdowntrs
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.
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
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?