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Land Betterment Charge Bill | PAPERCUTS

Land Betterment Charge Bill

Explore the details of bill number 7/2021.

Summary written by AI (learn more)

The Land Betterment Charge Act 2021 establishes a tax on the increase in land value resulting from a chargeable consent related to land development or use, with specific provisions for assessment and collection.
It changes the existing development charge and temporary development levy system, allowing for a more predictable and transparent process for calculating and collecting land betterment charges.
Taxable persons include landowners and those who assume liability, with options for deferment and exemptions in certain cases, particularly for charitable institutions.
The Act includes provisions for recovery, penalty taxes for unpaid charges, and appeals against decisions made by the authority regarding the charge.
Regulations under the Act will govern the details of implementation, exemptions, and the calculation of charges, ensuring compliance with the broader planning and land development framework in Singapore.

Timeline

Bill introduced

The bill is formally presented in Parliament for consideration.

5 years ago

First reading

The bill's title and key objectives are read out, but no debate occurs at this stage.

5 years ago

Second reading

Members of Parliament debate the bill's general principles and overall merits.

5 years ago

Select committee

The bill is examined in detail by a select committee, which may suggest amendments.

5 years ago

Third reading

Members of Parliament debate the final version of the bill, including any amendments made.

5 years ago

Voting

The bill is voted on by the Members of Parliament and, if it receives the required majority, it becomes law. Do note that an exact vote may not be counted; the 'ayes' can simply be louder than the 'noes'.

5 years ago

Bill passed

The bill is passed and becomes law.

5 years ago

Summary

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Debate