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Ministry of Finance (MOF)
Parliamentary Replies

Rental Income Declared and Income Tax Assessed by Number of Residential Properties Owned

3 November 2026

Topics

Tax-Related (Income Tax)

Parliamentary Question by Ms Elysa Chen:

To ask the Prime Minister and Minister for Finance for the latest Year of Assessment, what is the total (a) rental income declared; and (b) income tax assessed on rental income, in each case for individuals who owned (i) two (ii) three to four and (iii) five or more residential properties. 

Parliamentary Reply by Second Minister for Finance, Mr Jeffrey Siow:

Tax is assessed on an individual’s total chargeable income. We do not differentiate between rental income and other sources of income.

The total net rental income declared by individuals, by number of residential properties owned, for Year of Assessment 2026, is as follows:

Residential properties owned and net rental income declared

No. of residential properties owned by an individual taxpayer

Total net rental income declared ($ million, rounded to the nearest hundred million)

2

1,700

3-4

900

5 or more

400

Notes:

  1. Net rental income refers to an individual’s declared share of rental income derived from properties, after allowable deductions.

  2. For the “5 or more” category, the net rental income may include income from both residential and non-residential properties for individuals owning more than eight properties, as a breakdown by property type is not available beyond the eighth property.