10 May 2017

The Inland Revenue Authority of Singapore (IRAS) has updated its website on “Taxable and Non-taxable income” with the addition of a new FAQ to clarify on the taxability on the gains on disposal of properties.

In the FAQ, the IRAS has clarified that the taxability of the gains on disposal of properties depends on whether the gains are revenue or capital in nature. For an evaluation of the taxability of the gains, IRAS would apply the “Badges of Trade” where all the factors are to be taken into consideration in the evaluation, and no single factor can be conclusive.

The above update was made on 26 April 2017.

Source: IRAS