Singapore legislation
Regulation 3
of Property Tax (Replacement Owner-Occupied House Under Construction) (Remission) Order 2013
Regulation 3
Remission of tax on vacant land
Subregulation 1
Subject to the provisions of this Order, where an owner of land demolishes one or more houses on the land for the purpose of constructing one or more replacement houses, there shall be remitted, for the period specified in paragraph 4 and subject to the conditions specified in paragraph 5, an amount of tax on the land computed in accordance with the formula:where Ais the tax payable on the land for the applicable period under paragraph 4;Bis the total number of owner‑occupied houses that have been demolished;Cis the total number of replacement houses to be built; andDis —
in the event B/C is less than 1, the tax at the owner‑occupier’s tax rates that would be payable during the applicable period under paragraph 4 on houses that were owner‑occupied prior to the demolition, had the houses not been demolished; and (b)in the event B/C is 1 or more, the tax that would be payable during the applicable period under paragraph 4 on all the houses that were demolished at the rates applicable to each such house, had the houses not been demolished.
Subregulation 2
For the purpose of the formula in sub‑paragraph (1), where B/C is more than 1, it shall be treated as 1.