Do I need to declare rental income in Singapore?

Yes. All rental income from Singapore property must be declared in your annual income tax return under Section 10(1)(f) of the Income Tax Act. This includes rent from HDB flats, private condos, landed property, and commercial premises. Failure to declare rental income is an offence under the Income Tax Act and can result in penalties of up to 200% of the tax undercharged, plus prosecution in serious cases.

What expenses can I deduct from rental income in Singapore?

IRAS allows deduction of: mortgage interest (not principal), property tax, agent commission for leasing, maintenance and repair costs (not improvements), depreciation of furniture and fittings, fire insurance, and other direct expenses incurred to produce the rental income. You cannot deduct renovation costs, structural improvements, mortgage principal repayment, or personal expenses.

What is the tax rate on rental income in Singapore?

Rental income in Singapore is taxed as personal income at your marginal income tax rate. Singapore uses a progressive tax system: 0% up to $20,000, 2% on the next $10,000, rising to 24% above $1,000,000. For most landlords with combined income (salary + rental) of $100,000–$200,000, the marginal rate on rental income is typically 11.5%–18%.

Last reviewed: 19 May 2026

Rental Income Tax Singapore 2026: IRAS Rules, Deductibles, and How to File

By Winfred Quek · CEA R073319H · Crestbrick

Quick answer: Rental income from Singapore property is taxed as personal income at your marginal rate under Section 10(1)(f) of the Income Tax Act. Allowable deductions include mortgage interest, property tax, agent commissions, and maintenance (not renovation). For most employed landlords, the effective tax rate on net rental income is 11.5%–18%. There is no capital gains tax on property sale in Singapore only rental income is taxable. Declare in your annual tax return by April 18 each year.

Facts verified: May 2026 · Sources linked below

How Rental Income Is Taxed: The Legal Basis

Under Section 10(1)(f) of Singapore's Income Tax Act, rental income from immovable property in Singapore is a taxable source of income. It is taxed at your personal income tax rate added to your employment income, dividends, and other income sources to determine total assessable income for the year.

Rental income is assessed on a calendar year basis (Year of Assessment follows the preceding calendar year). Rent received in 2025 is assessed in YA 2026, declared by 18 April 2026 for paper filing (30 April 2026 for e-Filing). The tax payable is typically due by November of the assessment year.

Singapore Personal Income Tax Rates 2026 (YA 2026)

Chargeable Income	Rate	Tax on Band	Cumulative Tax
First $20,000	0%	$0	$0
Next $10,000 ($20K–$30K)	2%	$200	$200
Next $10,000 ($30K–$40K)	3.5%	$350	$550
Next $40,000 ($40K–$80K)	7%	$2,800	$3,350
Next $40,000 ($80K–$120K)	11.5%	$4,600	$7,950
Next $40,000 ($120K–$160K)	15%	$6,000	$13,950
Next $40,000 ($160K–$200K)	18%	$7,200	$21,150
Next $40,000 ($200K–$240K)	19%	$7,600	$28,750
Next $40,000 ($240K–$280K)	19.5%	$7,800	$36,550
Next $40,000 ($280K–$320K)	20%	$8,000	$44,550
Above $320,000	22%–24%	Progressive	Progressive

Net rental income is added to your other taxable income and the combined figure determines which tax bands apply. A person earning $120,000 salary and $30,000 net rental income has $150,000 total assessable income the rental income is taxed at the 15% marginal rate applicable above $120K.

Allowable Deductions: Complete List

Expense	Deductible?	Conditions / Notes
Mortgage interest	Yes	Interest component only not principal repayment. Loan must be secured against the rental property.
Property tax	Yes	Annual property tax paid to IRAS for the rental property.
Agent commission (leasing)	Yes	Half-month to 1-month fee paid to agent for securing tenants.
Maintenance and repairs	Yes	Must restore to original condition not improve. Plumbing repair = deductible. New kitchen installation = not deductible.
Furniture and fittings depreciation	Yes	Based on cost divided by useful life (typically 5 years for furnishings). Keep purchase receipts.
Fire / contents insurance	Yes	Insurance premiums for the rental property.
Utility bills (if paid by landlord)	Yes	Deductible only if landlord contractually pays utilities not if tenant pays
Renovation costs	No	Capital expenditure not a revenue deduction. Does not reduce rental income tax.
Mortgage principal repayment	No	Capital in nature not an expense.
Structural improvements	No	Capital expenditure. Adding a room, installing new flooring, etc. not deductible.
Building depreciation	No	Unlike Australia or UK, Singapore does not permit capital allowance on building cost for residential rental.
Personal expenses allocated to property	No	Phone bills, car expenses, personal entertainment not deductible against rental income.

Full Rental Income Calculation: Worked Example

Item	Annual Amount	Notes
Gross rental income (2BR condo, D15)	$52,800	$4,400/month × 12
Less: Mortgage interest ($1.2M at 1.6%, year 5)	−$17,400	Interest portion of instalment (reduces as loan matures)
Less: Property tax (owner-occupier rate N/A investor rate 10%)	−$3,360	Annual value ~$33,600 × 10%
Less: Agent commission (1 month, amortised)	−$4,400	1-month commission per 12-month tenancy
Less: Maintenance and repairs	−$1,800	Air-con servicing, minor repairs, plumbing
Less: Furniture depreciation ($25K furniture ÷ 5yr)	−$5,000	Annual depreciation allowance
Less: Fire insurance	−$400	Annual premium
Net rental income	$20,440	Taxable rental income added to other income
Marginal tax rate (combined income $150K)	15%	Rental income taxed at marginal rate
Tax payable on rental income	$3,066	Effective tax on $52,800 gross rent = 5.8%

How to File Rental Income: Step-by-Step

Step 1 Compile your rental records for the calendar year. Collect all tenancy agreements, rent receipts or bank statements showing rental deposits, and all expense receipts (repair invoices, agent commission statement, insurance policy). Retain these for 5 years even after filing.

Step 2 Prepare a rental income schedule. For each rental property, list: address, period of rental, gross rent received, and each deductible expense with amount. The net figure is your taxable rental income for that property. If you have multiple rental properties, prepare one schedule per property and sum the totals.

Step 3 Log in to myTax Portal (mytax.iras.gov.sg). Under "File Income Tax Return," select Form B (self-employed) or Form B1 (employment income + other income). Navigate to the "Other Income" section.

Step 4 Enter rental income under Section 10(1)(f). Report gross rental income and each deductible expense. The portal will auto-calculate the net rental income and add it to your total assessable income.

Step 5 Submit by the deadline. e-Filing deadline: 18 April for paper, 30 April for electronic filing. IRAS will issue a Notice of Assessment (NOA) typically within 8 weeks. Pay the assessed tax by the due date on the NOA (usually November).

Property Tax vs Income Tax: Two Separate Obligations

	Property Tax	Rental Income Tax
What is taxed	Ownership of property (based on Annual Value)	Rental income received from tenants
Who pays	Property owner, regardless of whether rented	Property owner who receives rental income
Rate (investor, 2026)	10%–20% of Annual Value (AV) for non-owner-occupied	Personal income tax marginal rate (0%–24%)
Relationship	Property tax is deductible from rental income for income tax purposes	Separate calculation rental income net of deductions
Filing	Annual IRAS issues assessment automatically	Self-declaration in annual tax return by April

IRAS audit triggers: Common red flags that invite IRAS review: renovation expenses classified as repairs (e.g. $30,000 "maintenance" for a property only 2 years old); interest deducted on loans not secured against the rental property; rental income significantly below market rate (IRAS may assess imputed market rent for related-party tenancies); no rental income declared for years where tenancy agreements are known to exist. Keep clean, well-organised records IRAS can request documentation up to 5 years retroactively.

Tax Planning Strategies for Singapore Landlords

Hold rental property in the lower-income spouse's name. If one spouse earns $80,000/year and the other earns $200,000/year, placing the investment property in the lower-income spouse's name means rental income is taxed at 7% (marginal rate at $80K band) rather than 18–19% (marginal rate at $200K band). On $25,000 net rental income, the tax saving is approximately $2,750/year.
Maximise deductible interest before loan repayment. In the early years of a mortgage, the interest portion is high which means a larger deduction. Consider the tax impact before making lump-sum loan prepayments that would reduce your deductible interest.
Claim all furniture depreciation systematically. Furniture and fittings depreciation is often under-claimed. Make a full inventory of furnished items at tenancy start with purchase prices, and claim annual depreciation consistently. A $50,000 furniture package yields $10,000/year in deductions over 5 years.
Use SRS contributions to reduce overall taxable income. Supplementary Retirement Scheme (SRS) contributions reduce your total assessable income dollar-for-dollar (up to $15,300/year for SC/PR). This can push your combined income into a lower marginal bracket, reducing the tax rate applied to your rental income.

Frequently Asked Questions

Is rental income from subletting an HDB room taxable?

Yes. Income from subletting rooms in your HDB flat is taxable under Section 10(1)(f). You can deduct a proportional share of mortgage interest, property tax, and maintenance costs based on the number of rooms rented vs total rooms. For example, if you rent out 2 rooms in a 4-room flat, approximately 50% of allowable expenses are deductible against the rental income from those 2 rooms.

What if my tenant pays utilities and I receive a lower rent?

If the rent reflects that the tenant pays their own utilities (and the rent is accordingly lower), you simply declare the actual rent received. The utilities paid by the tenant are neither your income nor your expense for tax purposes. If you pay utilities and the rent is higher to compensate, include utility payments in deductible expenses and the full rent in gross income.

Do I need to declare rental income if I'm renting to a family member at below-market rate?

Yes, you must declare actual rent received. However, IRAS may assess the Annual Value of the property as a proxy for market rent if they determine the below-market rental arrangement is primarily to reduce taxable income. Related-party tenancies should be documented with genuine tenancy agreements and rent should not be so far below market as to appear artificial. IRAS has the power to substitute market rent in blatant cases.

Are there any rental income tax exemptions in Singapore?

There are no blanket exemptions from rental income tax for individuals in Singapore. However, there is a concessionary option for residential rental income: instead of claiming actual deductions, individuals may opt for a deemed 15% deduction (representing deemed expenses) plus property tax as the only deductions. This simplified method is useful if your actual deductible expenses are less than 15% of gross rental income. Most landlords with mortgage interest will do better claiming actual expenses.

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