Real Estate

Stamp Duties for Sale & Purchase of Property

By June 23, 2015 No Comments

Stamp Duty is payable by both Buyer and Seller of a property transaction.

There are four main types of stamp duty:

Purchase of Property

  • Buyer Stamp Duty (for all property); and
  • Additional Buyer Stamp Duty (for residential property).

Sale of Property

  • Seller’s Stamp Duty (for residential property); and
  • Seller’s Stamp Duty (for industrial property).

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 (“Base”), whichever is higher.

BSD payable on and after 22 February 2014 is as follows:

Table 1: BSD for all property

BaseStamp duty (%)
First $180,0001%
Next $180,0002%
Above $360,0003%

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 12 January 2013 is as follows:

Table 2: ABSD for residential property

 1st Residential Property2nd Residential Property3rd & subsequent Residential property
Singapore CitizensNIL7%10%
Permanent Residents5%10%10%
Foreigners & Entities15%15%15%

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 (“Base”), whichever is higher. SSD payable will be rounded off to the nearest dollar.

SSD payable on and after 14 January 2011 on residential property is as follows:

Table 3: SSD for residential property

Holding PeriodSSD (Residential) Rate
Less than 1 year16%
More than 1 year & up to 2 years12%
More than 2 years & up to 3 years8%
More than 3 years & up to 4 years4%
More than 4 yearsNIL

 

4. SSD for Industrial Property

SSD for residential property is based on the purchase price or market value of property (“Base”), 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:

Table 4: SSD for industrial property

Holding periodSSD (Industrial) Rate
Less than 1 year15%
More than 1 year & up to 2 years10%
More than 2 years & up to 3 years5%
More than 3 yearsNo SSD payable

Stamp Duty Calculator

Inland Authority Revenue of Singapore (IRAS) a stamp duty calculator, available at: Stamp Duty Fee Calculator

Please note that the rates set out below are correct as of 1 June 2015.

These rates are based on the rates published by the IRAS from time to time and we make no claims on the accuracy of these rates following 1 June 2015.

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 to purchase or sell a property, contact us to make an appointment.

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Fung Peen Lim

Author Fung Peen Lim

Fung peen is a 20 year veteran of the legal industry. A peace-maker at heart, Fung Peen proficiency in litigation makes him a valuable ally and counsel in helping his clients find amicable legal solutions, in estate planning, debt recovery, disputes, divorce. One wise saying he believes in is “A Will is a great way to love your family with the last thing they read from you”.

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