Is Room Rental Income Taxable By Iras?

[forgotten 1]

http://www.iras.gov.sg/irasHome/page.aspx?id=160

IRAS site states that (whole house) property rental income is taxable.

How about room rental income? If yes, any idea how much will it be? Thanks.

Edited April 11, 2010 by forgotten

[therat 18]

yes.

taxable.

Now , room rental need to register with HDB.

so, cannot run.

How much.. don't know

I believe it fall under other income.

U can use your present yrly income + room rental income, then est est.. how much more.

[bepgof 20]

http://www.iras.gov.sg/irasHome/page.aspx?id=160

IRAS site states that (whole house) property rental income is taxable.

How about room rental income? If yes, any idea how much will it be? Thanks.

Rental is considered part of your income, so taxable. Why ppl rent out, keep one room locked & without reporting to HDB is to escape this income to be taxed.

Edited April 12, 2010 by bepgof

[forgotten 1]

Thanks for the replies.

I got to learn a lot of new things from everyone in this forum.

Edited April 12, 2010 by forgotten

[therat 18]

Rental is considered part of your income, so taxable. Why ppl rent out, keep one room locked & without reporting to HDB is to escape this income to be taxed.

not just escape income tax

1. MOP might not meet

2. not entitle for SC rebate/ PUB rebate

3. troubles, need to get permit.

[forgotten 1]

It looks like I can't escape LOL.

Edited April 12, 2010 by forgotten

[bepgof 20]

It looks like I can't escape LOL.

HDB/URA/IRAS work very closely. You submit this, will receive that very fast. Unlike private bank, so screw up, update them address already still send letter to old address. Starhub is another, sent to my previous's previous, must call them up to check......

Edited April 12, 2010 by bepgof

[forgotten 1]

HDB/URA/IRAS work very closely. You submit this, will receive that very fast. Unlike private bank, so screw up, update them address already still send letter to old address. Starhub is another, sent to my previous's previous, must call them up to check......

Anything that got to do with collection of money, PAP will be very ON one keke!

For Starhub, I always email them instead of call them. They will response to my emails and settle my requests on the 3rd day. They are the first to update my address.

Edited April 12, 2010 by forgotten

[vivien 0]

I just called HDB regarding this - whether renting out room is taxable. From the Customer Officer explanation, looks like renting out room only is not taxable but the whole unit yes. So the registration is just to notify HDB on the subtenants particulars. Although he confirms this, somehow i still feel in doubt...hmmm.

If anyone have time, please call to re-confirm. 1800-555-6370.

Thanks.

[gimz63251073 0]

rental is rental, u rent out 1sq metre also taxable. Renting out a whole house and renting out a room still earns you rental income.

For tax issues, check with IRAS, for housing issues check with HDB. Don't mix them up wor...

[bepgof 20]

I just called HDB regarding this - whether renting out room is taxable. From the Customer Officer explanation, looks like renting out room only is not taxable but the whole unit yes. So the registration is just to notify HDB on the subtenants particulars. Although he confirms this, somehow i still feel in doubt...hmmm.

If anyone have time, please call to re-confirm. 1800-555-6370.

Thanks.

Any income is taxable, unless do not declare & do not get caught. Another exception is "tax exmpted" income like stock dividend. Interest earned from $ keep in posb, any other?

Edited April 12, 2010 by bepgof

[therat 18]

4D and toto winning

investment profit

[gimz63251073 0]

Singapore taxes are on income.

Capital gains are not taxable, i.e. a windfall from TOTO, inheritance, disposal of property (unless you buy and sell properties for a living). Generally its those things that do not recur.

Gains on disposal of shares for individual investors would still taxed if you are a trader, but of course losses will be deductible as well.

Rental income is definitely taxable, unless you do not declare it of course.

[Plastic3 0]

Gains from sale of one property is not taxable, but consecutive gains from other properties may be taxed if the person is deemed to be trading

[dean 5]

that why sg S u c k