Singapore legislation

Clause 2

Amendment of section 2

Section 2 of the Property Tax Ordinance, 1960 (hereinafter in this Act referred to as “the Ordinance”) is hereby amended —

(a)

by inserting immediately after paragraph (d) of the proviso to the definition of “annual value” appearing therein the following new paragraphs: —“(e)in assessing the annual value of any property which comprises a lot the title of which is issued under the Land Titles (Strata) Act, 1967 (Act 41 of 1967) —

(i)

the subsidiary proprietor of such lot shall be deemed to be the owner thereof;

(ii)

the annual value of such lot shall be determined as if that lot comprised a freehold estate in land; and

(iii)

no separate annual value shall be attributed to the land upon which the subdivided building stands;

(f)

in assessing the annual value of any property comprised in a statutory land grant or lease of State land or a lease of property by a public authority for a period exceeding three years —

(i)

the grantee or lessee of such property shall be deemed to be the owner thereof;

(ii)

the annual value of such property shall be determined as if that property comprised a freehold estate in land; and

(iii)

no deduction shall be made of any premium or rent payable to the Government or the public authority;”; and

(b)

by inserting immediately after the definition of “property” appearing therein the following new definition: —“ “public authority” means such public authority as may be prescribed for the purposes of this Ordinance by the Minister;”.

Read in full context — Property Tax (Amendment) Bill →