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Over 280 landlords caught by Iras for under-reporting income
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Around 450 landlords were audited in the past three years for possible breaches after their income profiles were flagged by internal checks.
ST PHOTO: DESMOND WEE
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There is no better time to be a landlord, with rents rising to the point where even well-heeled expats are screaming for mercy and potential tenants are getting scammed because they are willing to send deposits to strangers even without viewing the properties.
If you are one such lucky owner who is enjoying higher rental income, make sure you report the changes before the April 18 tax filing deadline. Non-compliance can mean a tax audit, which can be a painful process, to say the least.
