- Residential property sales and leases are GST-exempt; non-residential properties are fully taxable, and mixed-use properties are taxed only on the non-residential portion.
- For furnished residential properties, GST applies only to movable furniture and fittings, valued at market value or cost; permanently attached fixtures are exempt.
- GST-registered developers or owners with limited input tax credits may need to account for GST under reverse charge for imported services and low-value goods.
- Selling a non-residential property can also trigger GST registration if it causes the seller to exceed the registration threshold.
Source: regfollower.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
Latest Posts in "Singapore"
- IRAS Updates GST Major Exporter Scheme Guide for Singapore Businesses
- IRAS Publishes 18th GST Major Exporter Scheme e-Tax Guide
- Singapore GST Rules for Property Transactions
- IRAS Publishes 18th Edition of GST Major Exporter Scheme Guide
- Singapore Major Exporter Scheme: GST Relief for High-Volume Exporters
