±A - Subscribe to Our Newsletter
Our monthly newsletter contains health and financial news, expat articles, social media recommendations and more.
±A - Join Our Community
±A - Read Our Guide
±A - Compare Quotes and Save
±A - Listen to the Podcast
±A - Expert Financial
±A - ExpatFocus Partners
Property LettingBack to top Back to main Skip to menu
Singapore - Property Letting
If you let it without permission you can be fined as much as $5,000 and imprisoned for five years.
Some of the areas have a higher rental yield than others. For instance, properties in the Central Area will probably yield more rent than those on the East Coast. Keep in mind that the Inland Revenue Authority of Singapore treats rental as part of income and charges income tax accordingly. The tax for a foreigner who possesses employment in Singapore is a lower tax than for a foreigner who does not have an employment pass.
When letting your property, you’ll want to ensure that your future tenant is legal. You can verify his Work Pass on the Ministry of Manpower’s website. If you rent your property to an illegal immigrant then you face stiff fines and penalties and can be held responsible. You can contact the Ministry of Manpower’s Work Pass Division at:
Work Pass Division
Ministry of Manpower
18 Havelock Road
Fax No: (65) 6317 1329
If you are subletting your HDB property, you’ll need to contact the HDB Board and fill out an application. You are prohibited from subletting your property for 3 or 5 years, depending on the kind of flat it is (three years for a non-subsizied flat purchased without a CPF grant and five years if it is a non-subsidized flat purchased after 2010 from the open market).
For non-e-stamping cases, you must contact the IRAS within 15 days of letting out your property. If you do not, you can be fined up to $5,000. If your tenancy agreement has been e-stamped, you don’t have to notify the IRAS. The income you receive from your rent is taxable.
If you do decide to let out your property, working with a property agent is a good way of ensuring that you’re following all of the rules. A good agent will help you not only find a qualified tenant but help you ensure that you’re adhering to the guidelines and requirements of the law.
You must pay tax on any rental income that you might receive. The property owner is responsible for declaring and paying this tax, even if they do not live in the dwelling. When the amount is declared, the total rent received must be included. This includes the property’s charges as well as any furniture and service charges. However, expenses can be claimed against any rental income on the property, including any commissions you have to pay to an agent to renew a lease or find a new tenant in addition to any repairs or maintenance you have to pay.
When you file your taxes, the total rent and deductible expenses claimed must be reported. The tax will be calculated on the net rent. The net rent is the total rent less total deductible expenses. Keep supportive documents for at least seven years.
Read more about this country
Expat Health Insurance Partners
At Bupa we have been helping individuals and families live longer, healthier, happier lives for over 60 years. We are trusted by expats in 190 different countries and have links with healthcare organisations throughout the world. So whether you're moving abroad for a change of career or a change of scene, with our international private health insurance you will always be in safe hands.
Cigna has worked in international health insurance for more than 30 years. Today, Cigna has over 71 million customer relationships around the world. Looking after them is an international workforce of 31,000 people, plus a network of over 1 million hospitals, physicians, clinics and health and wellness specialists worldwide, meaning you have easy access to treatment.