Hire Furniture & Save on Rental Tax

You wish to rent out your new house but you do not wish to leave your sofa behind for the tenant or you do not wish to buy furnitures upfront. Why not consider leasing furnitures? It can help you lower your rental income tax.

According to Inland Revenue Authority of Singapore (IRAS) , rental expenses are expenses which are wholly and exclusively incurred in the production of your rental income. These hiring furniture expenses can be deducted from your rental income, which helps you to save tax. If you buy a fridge or washing machine for tenants use, these depreciation of furnishings are not deductible. So leasing furnitures can be ideal if you are intending to rent out your home but do not wish to buy new furnitures. http://www.iras.gov.sg/irashome/page04.aspx?id=160

Leasing furniture in Singapore has become an increasing trend and is also a good solution for tenants & expatriates who relocate frequently and do not want to buy furniture for their rented home. It is also ideal if you are holding a corporate event or you have a home party that you want to impress your guests.

A few companies in Singapore provide leasing of furnitures such as Plots furniture, Lian Huat, Lush, Expat furniture rental etc.

So get on Google and start searching for the right furnitures to fill your home (and save the earth) too!