Property Tax Exemption for land granted “Approved Building Project” status (Land Under Dev (App Proj) 01)

Eligibility and application

Who can apply

You can apply for exemption of Property Tax (Exemption of Land Under Development) Order 2001 if the development project on your land has been granted “Approved Building Project” (ABP) status by the Minister of Finance.

Period of exemption

The exemption will be valid from the date of commencement of foundation works. The exemption is for a maximum period of three years, or up to the date of TOP, whichever is earlier.

Criteria

To qualify for exemption under this Order, the Minister must grant the development ABP status. The Minister will only grant ABP status, if all the following criteria are fulfilled:

1. The date of commencement of foundation works of the project is on or after 1st May 2001 and
2. The project has the support of the Economic Development Board (EDB) and
3. The project involves substantial investment cost (excludes land costs), and
4. The project will create substantial spin-offs and benefits for Singapore.

How do I apply?

You are required to complete and submit the Application for "Approved Building Project" under the Property Tax (Exemption of Land under Development) Order 2001  (103KB). The form must be submitted within six months of the date of written permission granted.

IRAS will:

• process the application based on EDB's recommendation.
• submit the applications which are endorsed by EDB for Minister's approval.
• convey the Minister's decision on the application to you.

Upon approval by the Minister, you are required to complete and submit the Claim for Exemption under the Property Tax (Exemption of Land under Development) Order 2001  (52KB) within six months of the commencement of foundation works.