IRAS Updates GST Rules for Property Owners and Holding Companies

IRAS updated its GST guide for property owners and property holding companies.
Sale and lease of non-residential properties are subject to GST; residential properties are exempt, and mixed-use properties are taxed only on the non-residential portion.
For furnished residential properties, GST applies to movable furniture and fittings based on market value or cost, while permanently attached fixtures remain exempt.
GST-registered owners without full input tax credits must account for GST under the reverse charge on imported services and low-value goods.
Selling a non-residential property may require GST registration if it pushes taxable turnover above the threshold.

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.