Hi Sifus,

I would like to buy a second-hand house from a potential house owner, the house is now occupied by a tenant and pay monthly rental. My question is when the rental income belongs to the new owner? At the date of stamped Sales and Purchase Agreement or memorandum of transfer or the date when the name on the title transfer to the new owner?

Thanks sifus

This post has been edited by Nepo: Oct 19 2017, 08:36 AM

That means the previous owner will hand over the keys to me when he receives the full payment.

How about the rental income recognition by the Inland Revenue Board in income tax law?

Will IRB taxes me for the period of rental income from S&P Agreement to the full payment release by the bank(if no clause states that when the rental income should belong to the new owner?

Thank you.

Thank you sifus.