Additional Stamp Duty For Singapore Properties

Property

By Making Passive Income • December 8, 2011

Today, the government introduced a new set of stamp duty taxes which are deemed to be unprecedented and the toughest laws currently to curb rising property prices. This comes as property prices continued to climb regardless of the previous rules established.

a) Foreigners and non-individuals (corporate entities) buying any residential property will pay an ABSD of 10%; b) Permanent Residents (PRs) owning one and buying the second and subsequent residential property will pay an ABSD of 3%; and c) Singapore Citizens (Singaporeans) owning two and buying the third and subsequent residential property will pay an ABSD of 3%. This stamp duty is in addition to the current stamp duty scheme of 1% for the first $180k, 2% for the next $180k and 3% for the remainder. One look tells you that the government ...

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