Buyer Stamp Duty and Seller Stamp Duty is payable by both Buyer and Seller to the Inland Revenue Authority of Singapore (“IRAS”) for the sale and purchase of a property transaction.
Types of Stamp Duty Payable to IRAS
There are four main types of stamp duty:
PURCHASE OF PROPERTY
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- Buyer Stamp Duty (for all property); and
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- Additional Buyer Stamp Duty (for residential property).
SALE OF PROPERTY
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- Seller Stamp Duty (for residential property); and
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- Seller Stamp Duty (for industrial property).
Stamp Duty Rates
1. Buyer Stamp Duty (“BSD”)
BSD is payable for all property purchased and applies to all Buyers (whether Singaporean, PR, Foreigner & Entities). BSD is based on purchase price or market value of property, whichever is higher.
During Budget 2023, the Government announced that BSD rates will be raised with effect from 15 February 2023. The changes seek to enhance the progressivity of Singapore’s BSD system, with higher BSD rates for higher-value properties.
In the case of residential properties, there will be a new marginal BSD rate of:
- 5% will apply to the portion of the properly value in excess of $1.5 million and up to $3 million; and
- 6% will apply to the portion of the property value in excess of $3 million.
Meanwhile, for non-residential properties, a new marginal BSD rate of:
- 4% will apply to the portion of the properly value in excess of $1 million and up to $1.5 million; and
- 5% will apply to the portion of the property value in excess of $1.5 million.
How to calculate Buyer’s Stamp Duty:
| Purchase Price or Market Value of the Property | Buyer Stamp Duty Rates for Residential Property | Buyer Stamp Duty Rates for Non-Residential Properties |
| First $180,000 | 1% | 1% |
| Next $180,000 | 2% | 2% |
| Next $640,000 | 3% | 3% |
| Next $500,000 |
4% | 4% (new) |
| Next $1,500,000 | 5% (new) | 5% (new) |
| Amount exceeding $3,000,000 | 6% (new) | 5% (new) |
Transitional Provisions
Please note that a transitional provision on BSD rates on or before 14 February 2023 will apply for cases that meet all the conditions below:
- The Option to Purchase (OTP) was granted by sellers to potential buyers on or before 14 February 2023;
- This OTP is exercised on or before 7 March 2023, or within t he OTP validity period, whichever is earlier; and
- This OTP has not been varied on or after 15 February 2023.
2. Additional Buyer Stamp Duty (“ABSD”)
ABSD is only payable on Buyers who purchase residential property.
Similar to BSD, ABSD is based on the purchase price or market value of property (“Base”), whichever is higher. Unlike BSD, however, ABSD payable is dependent on the profile of Buyer.
ABSD payable on and after 27 April 2023 is as follows:
| Profile of Buyer Buying Residential Property | 1st Residential Property | 2nd Residential Property | 3rd & subsequent Residential property |
| Singapore Citizens | NIL | 20% | 30% |
| Permanent Residents | 5% | 30% | 35% |
| Foreigners | 60% | 60% | 60% |
| Entities | 65% | 65% | 65% |
| Trustees (for any transfer into a living trust) | 65% | 65% | 65% |
ABSD for multiple-buyer purchases with different profiles
If property is jointly bought (by joint tenants, tenants-in-common) by Buyers with different profiles, the higher ABSD rate will apply.
ABSD for mixed use property with residential component
If property is mixed use (eg. a HDB shop with living quarters), ABSD is calculated on the Base attributable to the residential component only.
3. SELLER’S STAMP DUTY (“SSD”) FOR RESIDENTIAL PROPERTY
SSD for residential property is based on the purchase price or market value of property, whichever is higher. SSD payable will be rounded off to the nearest dollar.
SSD payable on and after 11 March 2017 on residential property is as follows:
| Holding Period | SSD Rate |
| Up to 1 year | 12% |
| More than 1 year and up to 2 years | 8% |
| More than 2 years and up to 3 years | 4% |
| More than 3 years | No SSD payable |
4. SSD for Industrial Property
SSD for residential property is based on the purchase price or market value of property, whichever is higher. SSD payable will be rounded off to the nearest dollar.
SSD payable on and after 12 January 2013 on residential property is as follows:
| Holding period | SSD (Industrial) Rate |
| Up to 1 year | 15% |
| More than 1 year & up to 2 years | 10% |
| More than 2 years & up to 3 years | 5% |
| More than 3 years | No SSD payable |
Stamp Duty Calculator
Inland Authority Revenue of Singapore (IRAS) a stamp duty calculator, available at: Stamp Duty Fee Calculator
For up-to-date rates on stamp duties that may be payable, please refer to https://www.iras.gov.sg/IRASHome/Other-Taxes/Stamp-Duty-for-Property/
For assistance in regards to buyer stamp duty or seller stamp duty, contact us to make an appointment.
