Property Tax Act |
Property Tax (Tax Deferral for Land Approved for Development) Regulations 2009 |
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Citation and commencement |
1. These Regulations may be cited as the Property Tax (Tax Deferral for Land Approved for Development) Regulations 2009 and shall be deemed to have come into operation on 22nd January 2009. |
Definitions |
2. In these Regulations —
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Deferral of payment of tax for period of deferral |
3. Payment of tax for any qualifying land in respect of a period of deferral may be deferred in accordance with these Regulations. |
Application for tax deferral |
Grant or refusal of tax deferral |
5.—(1) Upon receipt of an application to defer the payment of tax made under regulation 4, the Comptroller shall consider the application and may grant the tax deferral or refuse to grant the tax deferral.
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Tax deferral for qualifying land developed in phases |
6.—(1) Where any qualifying land is developed in phases, each phase of the development shall be treated as if it were a separate piece of qualifying land, and the Comptroller shall, subject to paragraph (3), grant separate tax deferrals for each phase.
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Notification of certain circumstances |
7. Where an applicant has been granted a tax deferral under regulation 5 in respect of any qualifying land and his period of deferral expires because of —
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Payment of deferred tax |
8.—(1) An applicant who has been granted a tax deferral under regulation 5 shall pay the full amount of the deferred tax as follows:
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Made this 24th day of August 2009.
Permanent Secretary, Ministry of Finance, Singapore. |
[MOF R50.003.0002 V14; AG/LEG/SL/254/2002/2 Vol. 1] |
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