Neutral impact for Reit landlords if they pass on savings: analysts

Singapore

THE increase in property tax rebates, part of the Resilience Budget, is intended to help defray tenants' operating costs. The impact on the retail, office and industrial Reits, if they pass on these savings, should be neutral.

Deputy Prime Minister and Finance Minister Heng Swee Keat announced on Thursday that hotels, serviced apartments, tourist attractions, shops and restaurants will pay no property tax for 2020, a "big enhancement" from the 15 to 30 per cent tax rebate announced in the earlier budget.