5 myths of tax filing of rental income

High-rise private and public residential buildings in Singapore.
High-rise private and public residential buildings in Singapore. PHOTO: ST FILE

Here are five common myths some property investors believe that can cost them when it comes to paying taxes.

I NEED NOT DECLARE MY RENTAL INCOME BECAUSE I PAY PROPERTY TAXES

Some taxpayers have the misconception that once they have paid their property taxes, they don't need to declare any rental income.

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A version of this article appeared in the print edition of The Sunday Times on April 01, 2018, with the headline 'Tax filing of rental income 5 Myths'. Print Edition | Subscribe