Course Description

Synopsis:

Property Tax (Part 2): What is Taxable, the Principles of Assessment & the Important Dates (Objection/Appeal)

In this part, the matters or things (i.e. house, land, building and tenement) that may be subject to property tax are discussed.   In addition, the carve-out in section 2(3) which excludes certain qualifying machinery from property tax assessment, is also discussed.  There are various principles governing the assessment of annual value (namely, independent assessment, hypothetical tenancy and rebus sic stantibus).  They are discussed in this session. Lastly, there are important dates that have to be borne in mind, in dealing with property tax.   These dates are discussed in this session.  

Part 1 of this series is titled: Property Tax (Part 1): What is “Annual Value” & the Methods of Assessment of Annual Value

It is recommended to view both parts of this series in sequence.


Intended For:

  • Audit Professionals / PAIP
  • Finance Professionals/ PAIB
  • Business Owners

A fundamental course suitable for all Accounting, Tax and Audit Professionals. Accountants who deal with expenses and outgoings pertaining to the management of properties, and those who are interested to ensure that they are not paying excessive Property Tax are encouraged to attend.

 

Competency Mapping: 

  • CPE Category Others = 1.0 CPE Hour 
Instructor Image

Leung Yew Kwong

Yew Kwong is presently a principal tax consultant in a Big 4 accounting firm in Singapore. He was until March 2012, a tax lawyer at WongPartnership LLP and was previously with the Inland Revenue Authority of Singapore (IRAS) and its predecessor, the Inland Revenue Department, for 28 years from 1975 to 2004.At the IRAS, he last held the posts of Chief Legal Officer and Chief Valuer concurrently where he dealt with all the taxes administered by IRAS, namely income tax, GST, stamp duty, property tax and estate duty. He was awarded the Public Administration Medal (Silver) when he was in the Civil Service.Yew Kwong also holds professional qualifications in real estate and valuation. He has a Master of Science (Urban Land Appraisal) degree from the University of Reading in the United Kingdom, a Master of Business Administration degree from the National University of Singapore and has attended the Executive Programme at the University of Michigan, Ann Arbor USA.In his practice, Yew Kwong has dealt with income tax, goods and services tax, stamp duty as well as property tax. He has appeared before the Income Tax Board of Review, Valuation Review Board, the High Court and the Court of Appeal in relation to tax appeals.Yew Kwong has also authored and co-authored a number of books on tax and development charge, including more recently a book on the Stamp Duties Act (LexisNexis Annotated Statutes of Singapore, 2010). He is one of some thirty authors to the Tax Academy's book, The Law and Practice of Singapore Income Tax (LexisNexis, 2011), a ground-breaking book for the Singapore tax community.

Course Rating

4

Speaker's Rating

4

1 CPE Hour

Lesson(s)

3

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