Stamp Duty

Stamp Duty – WheSmartCity2012n you want to buy and sell property in Singapore, you should always be aware of the various Stamp Duty applicable. With cooling measure implemented, there are more stamp duties applicable when you want to buy or sell properties. I have listed below does not include mortgage stamp applicable when you take up a loan with the bank. Please leave your contact details below should you wish to know more about this.

 

 

When buying a property the following Stamp Duties will be applicable.

BSD – Buyer Stamp Duty
This is the normal stamp duty applicable for any property transaction, the buyer will need to pay for this stamp duty.

Rates and Computation
BSD is computed based on the purchase price or market value of the property, whichever is higher.

Purchase Price or Market Value of the Property  BSD Rates
 First $180,000  1%
 Next $180,000  2%
 Remaining Amount  3%

ABSD – Additional Buyer Stamp Duty
This stamp duty was added as part of the cooling measures to cool the property prices of Singapore. Affected buyers will need to pay this stamp duty on top of the buyer stamp duty (BSD). See table below for the rates and computation of the stamp duty.

Rates and Computation

BSD and ABSD Rates
 Profile of Buyer  BSD Rates ABSD Rates from 8 Dec 2011 to 11 Jan 2013 ABSD Rates from 12 Jan 2013
Singapore Citizens (SC)1 buying first residential property 1% on first $180,000

2% on next $180,000

3% for the remainder

 Not applicable  Not applicable
SC1 buying second residential property  Not applicable  7%
SC1 buying third and subsequent residential property  3%  10%
Singapore Permanent Residents (SPR)1 buying first residential property  Not applicable  5%
SPR1 buying second and subsequent residential property  3%  10%
Foreigners (FR) and entities2buying any residential property  10% 15%

 1  Whether owned wholly, partially or jointly with others.

2 An Entity means a person who is not an individual. It includes the following:

  • An unincorporated association,
  • A trustee for a collective investment scheme when acting in that capacity,
  • A trustee-manager for a business trust when acting in that capacity
  • The partners of the partnership whether or not any of them is an individual, where the property conveyed, transferred or assigned is to be held as partnership property.

3  BSD and ABSD are to be rounded down to the nearest dollar.

 

When selling a property the following Stamp Duties may be applicable, depending on when the property is purchased.

SSD – Seller Stamp Duty

The rates of SSD payable on residential property purchased on and after 20 Feb 2010 and sold within certain duration, are summarized in the table below:

Date of Purchase or Date of Change of Zoning /  Use  Holding Period SSD Rate (on the actual price or market value, whichever is higher)
Between 20 Feb 2010 and 29 Aug 2010 (all  inclusive) Up to 1 year  1% on first $180,000
2% on next $180,000
3% on remainder
More than 1  year  No SSD payable
Between 30 Aug 2010 and 13 Jan 2011 (all  inclusive) Up to 1 year  1% on first $180,000
2% on next $180,000
3% on remainder
More than 1  year and up to 2  years  0.67% on first $180,000
1.33% on next $180,000
2% on remainder
More than 2 years and up to 3 years  0.33% on first $180,000
0.67% on next $180,000
1% on remainder
More than 3 years No SSD payable
On and after 14 Jan 2011 Up to 1 year  16%
More than 1 year and up to 2 years  12%
More than 2  years and up to 3  years  8%
More than 3  years and up to 4  years  4%
More than 4  years  No SSD payable

Notes

  1. Where land is sold with existing building, the liability for SSD will be based on the zoning of the land in the Master Plan.
  2. For non-residential property that is re-zoned or the permitted use is changed to residential, the date of acquisition of the property will be the date of rezoning or the change of use.
  3. SSD payable to be rounded down to the nearest dollar.

 

For HDB flats, due to the nature of the transaction only BSD applies to HDB transactions, SSD may apply on certain conditions. ABSD does not apply as the buyer cannot own another private residential property when purchasing a resale HDB. For more information about the various stamp duties application for your property sales or purchases to leave your contact information below so that I may assist.

Please enter your contact details and a short message below and I will try to answer your query as soon as possible. Alternatively, you may call or sms to my mobile at +65 9815 0141.If you want faster response, do leave your mobile number and your preferred time of day to call.