Stamp Duty

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[av_row row_style=”][av_cell col_style=”]Purchase Price or Market Value of Property[/av_cell][av_cell col_style=”]Buyer Stamp Duty Rates for Residential Properties[/av_cell][av_cell col_style=”]Buyer Stamp Duty Rates for Commercial Properties[/av_cell][/av_row]
[av_row row_style=”][av_cell col_style=”]First $180,000[/av_cell][av_cell col_style=”]1%[/av_cell][av_cell col_style=”]1%[/av_cell][/av_row]
[av_row row_style=”][av_cell col_style=”]Next $180,000[/av_cell][av_cell col_style=”]2%[/av_cell][av_cell col_style=”]2%[/av_cell][/av_row]
[av_row row_style=”][av_cell col_style=”]Next $640,000[/av_cell][av_cell col_style=”]3%[/av_cell][av_cell col_style=”]3%[/av_cell][/av_row]
[av_row row_style=”][av_cell col_style=”]Remaining Amount[/av_cell][av_cell col_style=”]4%[/av_cell][av_cell col_style=”][/av_cell][/av_row]

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[av_row row_style=”][av_cell col_style=”]Nationality[/av_cell][av_cell col_style=”]1st Property[/av_cell][av_cell col_style=”]2nd Property[/av_cell][av_cell col_style=”]3rd Property[/av_cell][/av_row]
[av_row row_style=”][av_cell col_style=”]Singapore Citizens[/av_cell][av_cell col_style=”]N.A[/av_cell][av_cell col_style=”]12%[/av_cell][av_cell col_style=”]15%[/av_cell][/av_row]
[av_row row_style=”][av_cell col_style=”]Permanent Residents[/av_cell][av_cell col_style=”]5%[/av_cell][av_cell col_style=”]15%[/av_cell][av_cell col_style=”]15%[/av_cell][/av_row]
[av_row row_style=”][av_cell col_style=”]Foreigners[/av_cell][av_cell col_style=”]20%[/av_cell][av_cell col_style=”]20%[/av_cell][av_cell col_style=”]20%[/av_cell][/av_row]
[av_row row_style=”][av_cell col_style=”]Entities / Companies[/av_cell][av_cell col_style=”]25%[/av_cell][av_cell col_style=”]25%[/av_cell][av_cell col_style=”]25%[/av_cell][/av_row]

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Stamp Duty Rates for Purchasing Property in Singapore

Buying a property can be complex, and there are many things to take into consideration. It is important to be aware upfront of the various costs and taxes so you do not get caught out. If you are buying property in Singapore, one thing to take into account is Buyers Stamp Duty (BSD) and Additional Buyers Stamp Duty (ABSD).

Any property that you buy in Singapore is subject to BSD. The amount payable is based on either the purchase price of the property, or its market value, whichever is higher. Currently the BSD rates are as follows:

When buying residential property in Singapore you may be liable to pay ABSD. This depends on your residency status, as well as if you own other residential properties in Singapore. As with BSD, ABSD is calculated either on the purchase price of the property, or its market value, whichever is higher. The rate payable depends on your residency status in Singapore. Canninghill Piers falls under the same circumstances and the stamp duty rates for Canninghill Piers would be the same.

Yes, there are some circumstances when buying additional residential properties in Singapore where you will not have to pay ABSD.

These are as follows:

  • If you have contracted to sell your residential property before signing the contract for the new residential property
  • If you are moving to a HDB resale flat from a private property
  • If you and your spouse have separated before buying
  • If you and your spouse are moving house

Additionally, you are not liable to pay BSD or ABSD if you have inherited a property through a will, intestacy or Muslim inheritance laws.

Paying BSD and ABSD

You will need to pay BSD or ABSD in full. You are unable to pay in instalments. You will have fourteen days after signing the purchase agreement to pay if signing in Singapore. If the documents are signed overseas, there are thirty days to make the payment after the agreement is received in Singapore. There are financial penalties for late payment, and ongoing failure to pay may result in the IRAS taking legal action against you.

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