How to calculate annual value of house property
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The Annual Value is determined after taking 4 factors into consideration. These are: (i) Actual rent received or receivable (ii) Municipal Value (iii) Fair Rent (iv) Standard rent. Net Annual Value is calculated as gross annual value less municipal taxes paid.
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The annual value of your property is calculated by multiplying your property's monthly market rent by 12. If you are renting out your property, IRAS will simply take your monthly rent and multiply it by 12 after deducting reasonable expenses for furniture and maintenance fees.
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