Budget 2022 – HIGHER WEALTH TAXES

24/02/2022

HIGHER WEALTH TAXES

Wealth Taxes in SG: Property Tax, Additional Registration Fee (ARF) for vehicles, Stamp Duties.
Property Tax on Investment properties will increase to 12-36%, from 10-20%.
Property Tax on Owner-occupied properties for the portion of annual value in excess of $30,000 will be increased to 6-32%, compared to 4-16% presently, effective from YA2023.
Additional ARF tier for luxury cars at a rate of 220 per cent for the portion of open market value in excess of $80,000, with effect from 19 Feb 2022.

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