Debated in Parliament on 5 Mar 2025.
Mr Zhulkarnain Abdul Rahim asked the Prime Minister and Minister for Finance (a) for owner-occupied private residential properties, where there is outstanding property tax whether in arrears or payable in instalments, how many of such cases, in percentage terms, involve owners/occupiers who are seniors or are retired; (b) whether the Ministry will consider providing additional assistance for seniors or retirees who face difficulties paying property tax; and (c) whether IRAS will consider withholding the collection of outstanding property tax for such seniors or retirees, until after the sale of the property or demise of the owner.
As of end 2024, less than 2% of owner-occupied private residential properties had outstanding Property Tax (PT) bills in arrears or on extended instalment plans. About 15% of these properties involved owner-occupiers who were aged 65 and above. The majority of these seniors were retirees.
We understand that some retiree home owners may face cash flow issues with paying their PT bills. That is why the Ministry of Finance introduced the Extended General Interbank Recurring Order Scheme for Residential Property (Retirees) in Budget 2024. The scheme provides a 24-month interest-free instalment plan for PT payments to eligible retiree owner-occupiers.
We will continue to support seniors and retirees, including through healthcare subsidies, Goods and Services Tax Voucher, MediSave and the Silver Support Scheme. As announced at Budget 2025, each Singaporean senior aged 60 and above will also receive $800 in SG60 Vouchers in July 2025.
The Government will continue to monitor the situation and study whether more assistance is required for those facing genuine hardship.
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