Impact of Higher Property Prices on Property Taxes Payable by Religious, Heritage and Cultural Organisations
10 Jan 2024Parliamentary Question by Ms Mariam Jaafar:
To ask the Deputy Prime Minister and Minister for Finance what assessment has been made of the impact of higher property prices on the property taxes payable by religious, heritage and cultural organisations.
Parliamentary Reply by Deputy Prime Minister and Minister for Finance Mr Lawrence Wong:
Registered charities do not have to pay Property Tax on the properties they own, so long as these properties are used exclusively for charitable purposes, including public religious worship and heritage. The recent increase in market rentals, which affects a property’s Annual Value, should therefore not have an impact on the Property Tax payable by these organisations.