Land and completed units
Land and development-site annual value is 5% of estimated freehold market value. The land-parcel assessment ends from the Temporary Occupation Permit date. This developer page states that IRAS provides newly completed condominium annual values within four weeks of TOP; the separate lawyer page mentions two weeks, so obtain the actual project schedule from IRAS.
Choose the apportionment approach
With an advance annual-value listing, the developer calculates its share and pays that amount directly to buyers. Individual valuation notices follow three months after TOP, so complete apportionment and ownership notices beforehand. Alternatively, the developer can receive individual notices, pay IRAS in full by the deadline, and obtain reimbursement from buyers through conveyancing lawyers.
Official source
A concise, independent Apex Gateway guide based on the official English source, not a reproduction of the complete document. Consult the original for full conditions, exceptions and subsequent updates.
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