Generally, the gains derived from the sale of a property in Singapore are not taxable as it is a capital gain.
The gains may be taxable if the individual buys and sells property with a profit-seeking motive, or deemed to be trading in properties. Whether a person is deemed to be carrying on a trade will depend on individual circumstances. Some criteria used to assess if you are trading in properties are as follows:
You must declare taxable gains from the sale of property under 'Other Income' in your tax form. If you are unsure whether your gains from sale of property, shares or financial instruments are taxable, email to us.
Generally, profits or losses derived from the buying and selling of shares or other financial instruments are viewed as personal investments. Payouts from insurance policies are also not taxable as they are capital receipts.
These profits are capital gains and are not taxable. You need not report such gains in your tax return.