Tenants stand to benefit from 15% property tax rebates

Singapore

IN a bid to alleviate Covid-19's impact on businesses, landlords of private commercial properties are looking to pass on savings from the 15 per cent property tax rebate, which was part of the Budget package delivered on Tuesday, to their tenants.

The government will grant the property tax rebate to private commercial properties that qualify to support food services and retail establishments operating there, said Deputy Prime Minister and Finance Minister Heng Swee Keat in his Budget speech on Tuesday.