taxBytes@iras

Use GIRO to enjoy fuss-free and interest-free instalments!

• DBS and OCBC account holders can now apply for GIRO directly through myTax Portal in one seamless application for property and individual income tax payments.
• GIRO is the preferred mode of payment by most taxpayers.
• Join GIRO now at http://mytax.iras.gov.sg and get instant approval.

Look out for your Property Tax bill and pay by 31 Jan 2019 

• Residential Property Owners, you will receive your 2019 Property Tax bill by 31 Dec 2018.
• Learn more about your 2019 Property Tax bill and how property tax is calculated. Due date for payment is 31 Jan 2019.  
• Looking for the best way to pay? Sign up for GIRO to enjoy fuss-free payment in one (yearly) deduction or up to 12 interest-free monthly instalments! DBS/POSB and OCBC account holders can now apply for GIRO directly through https://mytax.iras.gov.sg

Understanding your Industrial Property’s Annual Value (AV)                  

• Did you know? Your industrial property’s AV is the estimated gross annual rent if it were to be rented out. This is commonly determined by looking at the market rentals of comparable properties.
• To help you to better understand your annual value, you can now view your property’s AV rate on a per square foot per month basis ($ psf pm) in your personalised tax portal ^New!  
• Learn about how your industrial property’s annual value is determined under different scenarios.
• Find out more here.

 Record-keeping for commission agents

• Not only is proper record-keeping for the self-employed important, it can also be easily done with these few simple tips.

• If you are a commission agent, watch this video to find out more.

-----------------------------------------------------------------------------------------

GST Customer Accounting from 1 Jan 2019 ^New!

• GST-registered customers, instead of suppliers, will account for GST on the local sale of mobile phones, memory cards and off-the-shelf software exceeding $10,000 (without GST) from 1 Jan 2019.
• Click here to find out more.