Seller Stamp Duty Archives - New Homes Official Launch | (65) 6100 6339 https://officiallaunch.com.sg/tag/seller-stamp-duty/ Featuring Your New Homes © 2024 Wed, 22 May 2024 13:47:57 +0000 en-US hourly 1 https://wordpress.org/?v=6.5.5 https://officiallaunch.com.sg/wp-content/uploads/2024/05/cropped-Officiallaunch-Logo-2024-Black-32x32.jpg Seller Stamp Duty Archives - New Homes Official Launch | (65) 6100 6339 https://officiallaunch.com.sg/tag/seller-stamp-duty/ 32 32 How much is property stamp duty in Singapore? [2024] https://officiallaunch.com.sg/how-much-is-property-stamp-duty-in-singapore/ Thu, 09 May 2024 21:12:00 +0000 https://officiallaunch.com.sg/?p=5331 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...

The post How much is property stamp duty in Singapore? [2024] appeared first on New Homes Official Launch | (65) 6100 6339.

]]>

There are 3 types of property stamp duties.

property stamp duty in singapore

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 propertyBSD rates for residential propertiesBSD rates for non-residential properties
First $180,0001%1%
Next $180,0002%2%
Next $640,0003%3%
Next $500,0004%4%
Next $1,500,0005%5%
Remaining amount6%
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 PropertyBSD Rate  Calculation
 First $180,0001%  = $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 $500,0004%=  $20,000 (4% x $500,000)
Next $1,500,0005%= $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 years4%
More than 3 years0%

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. 

Mortgage0.4% of the loan amount granted on the mortgage  
(subject to a maximum duty of $500)  

If you need a recommended legal consultant / lawfirm, drop us a text to (65) 8666 3339. We will be able to assist.

Alternatively send us a message and we will contact you shortly.

>>>Send Message<<<

The post How much is property stamp duty in Singapore? [2024] appeared first on New Homes Official Launch | (65) 6100 6339.

]]>