Time of Supply Rules
With effect from 1 January 2011, the general time of supply rules will be simplified by removing:- the basic tax point (i.e. when goods are made available and when services are performed);
- the 14-day rule
Import GST Deferment Scheme (IGDS)
With effect from 1 October 2010, approved GST-registered businesses under IGDS can defer their import GST payments until their monthly GST return due dates.Changes to the GST treatment of ship and ship related supplies
The following GST changes will take effect from 1 July 2010:- Expanding the definition of “ship” in Section 21(4)(a);
- Expanding the scope of zero-rating relief to include any goods to be used /installed on board any qualifying ship;
- Expanding the scope of zero-rating relief on international transport of passengers/goods.
Changes to the GST treatment of aircraft related supplies
With effect from 1 July 2010, zero-rating relief will be expanded to include the supply of stores and merchandise for resale on board any qualifying aircraft.GST concession for REITS and Qualifying Registered Business Trusts Listed in Singapore
The concession for REITs and Qualifying Registered business trusts listed in Singapore, which expired on 17 February 2010, will be renewed from 18 February 2010 to 31 March 2015 (both dates inclusive).Singapore Budget 2010 - Property Tax
Review of existing property tax rebate for owner-occupied residential properties
For property tax payable from January 2011, the 1994 GST Rebate will be replaced by a progressive property tax regime for owner-occupied residential properties:- 0% for the first $6000 of Annual Value (AV);
- 4% for the next $59,000 of AV;
- 6% for the balance of AV in excess of $65,000.
