How much is property stamp duty in Singapore? [2024]

Admin — Thu, 09 May 2024 21:12:00 +0000

There are 3 types of property stamp duties.

MUST KNOW YOUR FINANCE. [Updated May 2024]

When you have the intention to make a property purchase, it is important to know the Property Stamp Duty in Singapore. There are 3 types of property stamp dutie: Buyer’s stamp duty (BSD), Seller’s stamp duty (SSD) and Mortgage duty.

All stamp duties are paid to The Inland Revenue Authority of Singapore (IRAS). It is the main tax administrator to the Singapore Government.

1. BUYER’S STAMP DUTY (BSD)

Buyer’s Stamp Duty (BSD) is tax paid on documents signed when you buy or acquire property located in Singapore.

On or after 15 Feb 2023
Purchase price or market value of the property	BSD rates for residential properties	BSD 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%
Next $1,500,000	5%	5%
Remaining amount	6%

BSD is rounded down to the nearest dollar, subject to a minimum duty of $1

Examples

Example: A terrace house was purchased on 17 Feb 2023 at $4,500,100 which is reflective of the market value

Market Value of the Property	BSD Rate	Calculation
First $180,000	1%	= $1,800 (1% x $180,000)
Next $180,000	2%	= $3,600 (2% x $180,000)
Next $640,000	3%	= $19,200 (3% x $640,000)
Next $500,000	4%	= $20,000 (4% x $500,000)
Next $1,500,000	5%	= $75,000 (5% x $1,500,000)
Remaining $1,500,100	6%	= $90,006 (6% x $1,500,100)
BSD Payable		= $209,606 ($1,800 + $3,600 + $19,200 + $20,000 + $75,000 + $90,006)

ADDITIONAL BUYER’S STAMP DUTY (ABSD)

Liable buyers are required to pay ABSD on top of the existing Buyer’s Stamp Duty (BSD). ABSD and BSD are computed on the purchase price as stated in the dutiable document or the market value of the property (whichever is the higher amount).

Purchase On and After 27 April 2023	First Property	Second Property	Subsequent Property
Singapore Citizen (SC)*	0%	20%	30%
Permanent Residences (PR)	5%	30%	35%
Foreigners	60%	60%	60%
Companies^	65%	65%	65%

*includes Switzerland, Liechtenstein, Norway, Iceland and USA

^Plus Additional 5% For Housing Developer (Non-Remittable)

2. SELLER’S STAMP DUTY (BSD)

SSD is payable on all residential properties and residential lands that are acquired on or after 11 Mar 2017 and disposed of within the holding period.

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	0%

3. MORTGAGE DUTY

A mortgage is a document where the interest in property is transferred from the borrower to the lender to secure the payment or repayment of money.

Mortgage	0.4% of the loan amount granted on the mortgage
	(subject to a maximum duty of $500)

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Additional Buyer Stamp Duty Archives - New Homes Official Launch | (65) 6100 6339

How much is property stamp duty in Singapore? [2024]

There are 3 types of property stamp duties.

MUST KNOW YOUR FINANCE. [Updated May 2024]

Examples