Reits sector gets big boost from lifting of sunset clause on tax exemption
Extension of other tax perks also cheered, but some say Budget moves may not be enough to draw trust and Reit listings, especially from aircraft leasing sector
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Singapore
FOR Singaporeans investing in real estate investment trusts (Reits), Finance Minister Heng Swee Keat's removal of the sunset clause for tax exemption on Singapore-listed Reits (S-Reits) and Reits Exchange-Traded Funds (Reits ETFs) distributions is undoubtedly welcome news.
The extension of other tax concessions - including the concessionary income tax rate of 10 per cent for S-Reits distribution received by non-resident non-individual investors, as well as tax exemption on qualifying foreign-sourced income - also brought a smile to industry players.
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