Property Tax: Determining the “Right” Amount Accountants should Pay

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16 December 2020, Wednesday

09.00AM - 12.30PM
60 Cecil Street, ISCA House, Singapore 049709

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Programme Synopsis

As an accountant, it is probably your remit to ensure that you are not paying excessive property tax. Are you then paying the “right” amount of Property Tax?   How would you know if the Property Tax is excessive? If it is excessive, what is your recourse?

Are you taking advantage of the reliefs provided for in the Property Tax Act? 

To have an appreciation of Property Tax, you will need to understand the principles underlying Property Tax and how it is determined, which is what this seminar intends to deliver. This will be useful for accountants in their work.

Programme Outline

  • Principles of Property Tax
  • The Charging Provision in the Property Tax Act which in turn determines the types of properties which are subject to tax
  • The Methods to determine the “Annual Value”
  • Determining if the amount of Property Tax to be paid is excessive or not
  • What Accountants should do if Property Tax is excessive
  • Taking advantage of the reliefs provided for in the Property Tax Act – What sort of benefits are we entitled to and when to use them?
  • Recent Cases and Examples

About the Presenter(s)/ Trainer(s)

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Mr Leung Yew Kwong
Principal Tax Consultant

Yew Kwong is presently a principal tax consultant in a Big 4 accounting firm in Singapore. He was until March 2012, a tax lawyer at WongPartnership LLP and was previously with the Inland Revenue Authority of Singapore (IRAS) and its predecessor, the Inland Revenue Department, for 28 years from 1975 to 2004.

At the IRAS, he last held the posts of Chief Legal Officer and Chief Valuer concurrently where he dealt with all the taxes administered by IRAS, namely income tax, GST, stamp duty, property tax and estate duty. He was awarded the Public Administration Medal (Silver) when he was in the Civil Service.

Yew Kwong also holds professional qualifications in real estate and valuation. He has a Master of Science (Urban Land Appraisal) degree from the University of Reading in the United Kingdom, a Master of Business Administration degree from the National University of Singapore and has attended the Executive Programme at the University of Michigan, Ann Arbor USA.

In his practice, Yew Kwong has dealt with income tax, goods and services tax, stamp duty as well as property tax. He has appeared before the Income Tax Board of Review, Valuation Review Board, the High Court and the Court of Appeal in relation to tax appeals.

Yew Kwong has also authored and co-authored a number of books on tax and development charge, including more recently a book on the Stamp Duties Act (LexisNexis Annotated Statutes of Singapore, 2010). He is one of some thirty authors to the Tax Academy's book, The Law and Practice of Singapore Income Tax (LexisNexis, 2011), a ground-breaking book for the Singapore tax community.

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