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Depository Agents Holding ART Stapled Securities On Behalf Of Beneficial Owners Who Are Individuals, Foreign Non-Individuals Or Exempt Non-corporate Stapled Securityholders


Which Distributions Are Eligible For Refund?

In the case of beneficial owners who are Foreign Non-Individuals, the tax refund applies to distributions made by Ascott REIT within the period from 18 February 2005 to 31 December 2025. The claim for tax refund is subject to the time limit as stated below.


Time limit for claim of refund

Every claim of refund must be made to IRAS within 4 years from the end of the year of assessment to which the claim relates. For example, for claim of refund in respect of distribution made by Ascott Reit for the period from 1 January 2020 to 30 June 2020 and 1 July 2020 to 31 December 2020 (which relates to the year of assessment 2021), the claim must be submitted to the IRAS on or before 31 December 2025. Stapled Securityholders and the Depository Agents must ensure that the relevant Forms are submitted on a timely basis to allow the Trustee of Ascott Reit to make the refund claim within the prescribed time limit. The IRAS will not process any claim that is out of time.


How To Make A Claim?

  • Download and complete Form R2 below, including Annexes 1,2 and 3. Use a separate Form R2 for each income distribution period.

  • Submit the duly completed Form R2, accompanied by the Subsidiary Income Tax Certificate ("SITC") issued for the distribution in respect of which the claim for refund is made to:

    Boardroom Corporate & Advisory Services Pte Ltd
    50 Raffles Place
    #32-01 Singapore Land Tower
    Singapore 048623

  • Email a soft copy of the completed Annexes to Boardroom Corporate & Advisory Services Pte Ltd at SRS.TeamA@boardroomlimited.com


Is Identification (ID) Number Required On The Declaration Form?

Yes, ID numbers such as Singapore NRIC number, passport number or foreign ID numbers are required for Individuals who hold their Units through Depository Agents.


When Do We Submit Form R2?

You may submit the Form and accompanying SITCs to Boardroom Corporate & Advisory Services Pte Ltd at any time.
The Trustee of Ascott Reit will collate the claims for refund submitted by Stapled Securityholders and make a claim for refund to the IRAS on a half-yearly basis. For example, all Forms received during the period ending 31 December of the year will be submitted to IRAS sometime in January/ February of the following year.


Will An Amended Tax Certificate Be Issued For The Refund?

Ascott Residence Trust Management Limited will issue a letter together with the cheque for the refund amount to the Depository Agents. This letter will serve as evidence that the tax refunds have been made.


When Will We Receive The Tax Refund On The Behalf Of The Beneficial Owners?

The tax refund will be paid to Depository Agents as soon as practicable after receipt of the tax refund from IRAS by the Trustee of Ascott Reit. You can then proceed to make refunds to your respective beneficial owners.

Click here to download Circular to Depository Agents.
Click here to download Form R2.