Louis Ng on Income Tax (Amendment) Bill
A “somehow perverse” situation resulting in a net loss for society - that is how MP Louis Ng described the potential fallout from a new section in the Income Tax (Amendment) Bill. He said it seems to allow a landlord to evict a failed tenant and then pay reduced taxes on rental income. Mr Ng asked how IRAS determines if a landlord has made “reasonable efforts” to find a new tenant and how it will guard against "bad-faith actors". It was one clarification he sought on the Bill in Parliament on Tuesday (Oct 5).
A “somehow perverse” situation resulting in a net loss for society - that is how MP Louis Ng described the potential fallout from a new section in the Income Tax (Amendment) Bill. He said it seems to allow a landlord to evict a failed tenant and then pay reduced taxes on rental income. Mr Ng asked how IRAS determines if a landlord has made “reasonable efforts” to find a new tenant and how it will guard against "bad-faith actors". It was one clarification he sought on the Bill in Parliament on Tuesday (Oct 5).
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