If you're considering using CardUp for your Property Tax payments both for monthly or one-time payment, it's crucial to understand the specific requirements and considerations to ensure a seamless process.
Here's a comprehensive guide to setting up your property tax payments on CardUp:
Available Due Date Selection on CardUp for Property Tax payment
Due to the administrative period for IRAS to validate your bank GIRO deduction and update your Tax account statements, you can only select the 2nd and 3rd week of each month as the payment due date on CardUp. The first and last week of the month are blocked due to this purpose.
Payment Period:
CardUp supports both one-time and monthly recurring payments.
One time payment
If you are making a one-time payment, simply ensure that your payment is set up with a due date on or before 31 January to be eligible as your property tax payment is due on 31 January .
" IRAS will send customised SMS reminders with your property address, tax amount to be paid and property tax reference number. Final reminders will be sent in the last week of January " (Source : IRAS website)
Monthly recurring payment
CardUp is not affiliated with IRAS. We act solely as a payment service provider, facilitating your tax payments on your behalf. All tax obligations remain between you and IRAS.
Mandatory Requirement of GIRO
If you want to set up a recurring monthly payment ,it's essential to have GIRO set up for your property tax payments. Even if you schedule payments through CardUp, GIRO should not be terminated. IRAS mandates this to avoid the need for full settlement in case of termination.
Limitation to 11 Months Payment on CardUp
CardUp pays your tax in advance to IRAS. To ensure your GIRO arrangement remains active, the first payment of each new tax cycle must be deducted via GIRO, as required by IRAS.
As a result, you can only set up 11 monthly payments through CardUp, rather than 12.
For example, if your GIRO arrangement starts in January, CardUp can only support payments from January to November. The January tax due ,must be paid via GIRO to maintain your instalment plan with IRAS.
This requirement is set by IRAS and helps ensure that your GIRO arrangement remains valid for future tax payment cycles.