The Inland Revenue Board (IRB) has issued Public Ruling No. 4/2011: Income from Letting of Real Property. This PR, which supersedes PR No. 1/2004 issued on 30 June 2004, provides clarification on:
i) letting of real property as a business source under paragraph 4(a) of the Income Tax Act 1967 (ITA); and
ii) letting of real property as a non-business source under paragraph 4(d) of the ITA.
The above New Public Ruling can be viewed and downloaded from the IRB’s website at the following link: