P105S0049: Property Tax Issues that Every Salesperson Should Know (PTI) [Singapore Mortgage Planner Course (SAMP) Module 2]

Course Objective(s):

The key objectives are to introduce the various tax policies concerning real estate ownership and practices. Course participants will also be brought through the compliance requirements of the various tax laws in the conduct of their business.

Expected Learning Outcome(s):

1. Understand various Stamp Duties and applications
2. Understand Buyer’s Stamp Duties and Additional Buyer Stamp Duties: –
   a) Affected Buyers
   b) Affected Properties
   c) Computation
   d) Exemptions and Remissions
   e) Consequences for non-compliance
3. Understand Seller’s Stamp Duties
   a) Affected Buyers
   b) Affected Properties
   c) Computation
   d) Exemptions and Remissions
   e) Consequences for non-compliance
4. Understand Property Tax
   a) Owner occupation
   b) Investment purpose
5. Understand the relevance of a capital gain tax for property investment
6. Understand tax rules on rental income
   a) When is rental income taxable?
   b) Differentiate between claimable and non-claimable expenses
7. Understand tax filing requirements for Real Estate Practitioners
   a) Avoid common filing mistakes for real estate agents.
   b) Differentiate between taxable and non-taxable income
   c) Distinguish between the different definitions and sources of income
   d) Identify allowable deductions and reliefs
   e) Consequences for non-compliance