Stamp Duty

The amount of stamp duty collected by the Government rose by 45.9 per cent in 2017, with most of the receipts from property transactions, Finance Minister Heng Swee Keat revealed on Tuesday (Jul 10). This is up from the 14.2 per cent increase in stamp duty collected in 2016 and the 6.2 per cent decrease recorded in 2015. In a written response to a Parliamentary question by MP Gan Thiam Poh, Mr Heng...

THE government is planning to make legislative changes to subject "significant owners of residential-property-holding entities" to stamp duties when they transfer equity interest in such entities, in the same way they would be subjected to stamp duties if they were to buy or sell the properties directly. This planned move is perceived by some industry players as plugging an existing regulatory...

If a citizen can afford a second or third property through the existing Total Debt Servicing Ratio (TDSR) regime, should he also have to pay Additional Buyer’s Stamp Duty (ABSD), Mr Christopher De Souza asked in Parliament on Monday (Jan 25). The Member of Parliament for Holland-Bukit Timah GRC called for the Government to consider removing ABSD for Singaporeans, while retaining the TDSR for...

Transfers of industrial properties due to corporate restructuring will now be exempted from Seller's Stamp Duty, after the Stamp Duties Amendment Bill was passed in Parliament on Wednesday (Oct 8). Senior Minister of State for Finance and Transport Josephine Teo said the exemption is granted to minimise the impact of the Seller's Stamp Duty on non-speculative business transactions. These include...

Two hundred and fifty two residential property transactions by foreigners have been exempted from additional buyer's stamp duty (ABSD) since it was first introduced as a property cooling measure on 8 December 2011. These foreign buyers are from the US, Iceland, Liechtenstein, Norway and Switzerland which are countries having free trade agreements with Singapore. In a written response to a...

The Government first introduced a Seller’s Stamp Duty (SSD) in February 2010 on all residential properties to cool the housing market that was rebounding on the back of the economic recovery from the global financial crisis in 2009. The SSD was subsequently revised twice — in August 2010 and January 2011 — to serve as additional deterrence against short-term speculation. Sellers are slapped with a...

The government collected S$10.87 billion in stamp duties for properties in the past five years. Minister of State for Finance Josephine Teo gave this update in response to a question from Non-Constituency MP Lina Chiam. Mrs Chiam wanted to know how much in stamp fees the government collected for sales and purchases of properties. Source : Channel NewsAsia – 18 Jan...

Citizens of five countries, including the United States and Switzerland, could avoid paying the additional stamp duty when they purchase a property in Singapore due to tax treaties with the city-state, the Straits Times reported on Friday. Similar treatment will also be accorded to citizens of Liechtenstein, Norway and Iceland, who will be treated the same as Singapore citizens, the paper quoted the tax...

The government has imposed an Additional Buyer's Stamp Duty (ABSD) for private property of between 3 per cent and 10 per cent for Singaporeans, Permanent Residents and foreigners to moderate investment demand for private residential property and promote a more stable and sustainable market. The changes take effect on December 8. Foreigners will pay 10 per cent Additional Buyer's Stamp Duty (ABSD) for any...

The Government announced today an Additional Buyer's Stamp Duty (ABSD) to be imposed on certain categories of residential property purchases. The ABSD will be imposed over and above the current Buyer's Stamp Duty, and will apply to the purchase price or market value of the property (whichever is higher) for the following purchases: Foreigners and non-individuals (corporate entities) buying any...