Singapore legislation
Regulation 15
of Land Betterment Charge (Table of Rates and Valuation Method) Regulations 2022
Regulation 15
Discounting for leasehold land
Subregulation 1
Where the chargeable consent given in relation to a development or a subdivision of any land which is the subject of a State title that is none of the following:
a grant in fee simple;
a grant of an estate in perpetuity;
a State lease the tenure of which (or balance thereof) is more than 99 years when the chargeable consent is given,the amount of land betterment charge payable under the Act in respect of the chargeable consent is ascertained by —
first, working out the amount of land betterment charge according to Division 1 or 2 as if the land were the subject of a State title mentioned in sub‑paragraph (a), (b) or (c);
then, ascertaining the percentage specified in the Seventh Schedule corresponding to the tenure in whole years (or a balance thereof) of the land when the chargeable consent is given; and
finally, calculating the sum that is the percentage ascertained under sub‑paragraph (e) of the amount worked out under sub‑paragraph (d), rounded up to the nearest dollar.
Subregulation 2
For the purposes of paragraph (1)(e), where the tenure (or a balance thereof) of the land consists of any part of a year, the tenure must be rounded to the nearest year.