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URLhttps://propertynet.sg/what-is-stamp-duty/
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Meta TitleWhat is Buyer Stamp Duty & Additional Buyer Stamp Duty (ABSD)? | PropertyNet.SG
Meta DescriptionWhat is Buyer's Stamp Duty? What is Additional Buyer's Stamp Duty? How to compute the Stamp Duty?
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What is Stamp Duty? Before we delve into the specifics of buyer stamp duty and additional buyer stamp duty in Singapore, it’s crucial to grasp the basic concept of Stamp Duty. Stamp Duty is a tax imposed on documents linked to the acquisition or leasing of property. If a document, such as a Sale & Purchase Agreement or Tenancy Agreement, is executed in Singapore, the buyer must pay this duty within 14 days of its date. However, payment must be made for documents signed abroad within 30 days of their arrival in Singapore. Not only is it unlawful to utilise a document on which Stamp Duty hasn’t been paid, but it’s also vital to understand that only documents with paid Stamp Duty can be presented as evidence in court during disputes. In Singapore, there are two main stamp duty when purchasing a residential property: Buyer’s Stamp Duty (BSD) and Additional Buyer’s Stamp Duty (ABSD). Note: If you’d like to calculate the Buyer’s Stamp Duty applicable to your property, use our Stamp Duty Calculator for a quick and accurate estimate. Stamp Duty Calculator So what is Buyer’s Stamp Duty? Buyer’s Stamp Duty is tax paid upon accepting Option to Purchase (OTP) / Sale & Purchase Agreements (S&P). These documents (i.e., OTP or S&P) are prepared and signed when you buy or sell your property. Stamp Duty is payable on the actual or market price, whichever is higher.  The buyer is responsible for paying the Buyer’s Stamp Duty.  Where Seller’s Stamp Duty is applicable, the seller is responsible for paying Seller’s Stamp Duty. Calculation of Buyer’s Stamp Duty: PAYMENT SCHEDULE OF STAMP DUTY Purchase Price or Market Value of the Property (whichever higher) BSD Rates for Residential Properties First $180,000 1% Next $180,000 2% Next $640,000 3% Next $500,000 4% Next $1,500,000 5% Remaining Amount 6% So what is Additional Buyer’s Stamp Duty? The Additional Buyer’s Stamp Duty (ABSD) is a tax levied on top of the existing Buyer’s Stamp Duty (BSD) when buying or acquiring property. It is computed on the purchase price as stated in the dutiable document or the property’s market value, whichever is the higher amount. The Government introduced the ABSD on 8 December 2011 to moderate demand for residential property, ensuring that residential property remains affordable for Singaporeans and that prices move in tandem with economic fundamentals. The ABSD rates were raised several times, the latest being on 27 Apr 2023, to promote a sustainable property market. The rates vary depending on the buyer’s profile as at the date of purchase or acquisition of the residential property. For example, Singapore Citizens (SCs) buying their first property are not required to pay ABSD, but SCs buying their second property have to pay 20% ABSD. Foreigners buying any property in Singapore must pay an ABSD rate of 60%, except foreigners who are Nationals or Permanent Residents of Iceland, Liechtenstein, Norway or Switzerland and Nationals of the United States of America. These foreigners will be accorded the same Stamp Duty treatment as Singapore Citizens. Entities (companies or associations) buying any property must pay an ABSD rate of 65%. Please note that these rates are applicable as of 27 April 2023 and may be subject to change. For details of Stamp Duty remission for property, please visit IRAS | Common Stamp Duty Remissions and Reliefs for Property at a Glance. With that, here’s the ABSD rates: Profile of Buyer ABSD Rates Singapore Citizens (SC) buying first residential property1 Not applicable Profile of Buyer ABSD Rates SC buying second residential property1 20% Profile of Buyer ABSD Rates SC buying third and subsequent residential property1 30% Profile of Buyer ABSD Rates Singapore Permanent Residents (SPR) buying first residential property1 5% Profile of Buyer ABSD Rates SPR buying second residential property1 30% Profile of Buyer ABSD Rates SPR buying third and subsequent residential property1 35% Profile of Buyer ABSD Rates Foreigners (FR) buying any residential property1 60% Profile of Buyer ABSD Rates Entities2 buying any residential property1 65% Profile of Buyer ABSD Rates Housing Developers3 buying any residential property1 35%4(Plus Additional 5% (non-remittable)5) Profile of Buyer ABSD Rates Trustee6 buying any residential property1 65% ABSD will be rounded to the nearest dollar, with a minimum duty of $1. Foot Note:  1  Whether owned wholly, partially or jointly with others.  2 An Entity means a person who is not an individual. It includes the following: An unincorporated association, A trustee for a collective investment scheme when acting in that capacity, A trustee-manager for a business trust when acting in that capacity The partnership partners, whether or not any of them is an individual, where the property conveyed, transferred or assigned is to be held as partnership property. 3 Housing Developers refer to entities in the business of housing development (i.e. construction and sale of housing units) with respect to the subject property acquired. These include trustees for housing developers, which will continue to be subject to the same ABSD rate as Housing Developers. 4 As entities, Housing Developers will also be subject to the ABSD rate for entities as follows: For the period on or after 16 Dec 2021, Housing Developers will be subject to the ABSD rate of 35%. Housing Developers may apply for remission of 35% ABSD, subject to conditions.  5 This 5% ABSD for Housing Developers is in addition to the 35% (on or after 16 Dec 2021) ABSD. This 5% will not be remitted and is to be paid upfront upon purchase of residential property.  6 Trustee refers to a trustee of any trust when acting in that capacity bt excludes the following:  Trustee for a collective investment scheme when acting in that capacity; Trustee-manager for a business trust when acting in that capacity; and Trustee for a housing developer when acting in that capacity. Other pages you may be interested in: How to calculate Sales Proceeds from Sale of HDB? One of the best property agent company in Singapore How much cash is needed to buy a property in Singapore?
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Apr 28, 2023 · PropertyNet.SG ![What is Buyer Stamp Duty \& Additional Buyer Stamp Duty (ABSD)?](https://propertynet.sg/images/uploads/2014/03/ABSD.png) What is Stamp Duty? Before we delve into the specifics of buyer stamp duty and additional buyer stamp duty in Singapore, it’s crucial to grasp the basic concept of Stamp Duty. Stamp Duty is a tax imposed on documents linked to the acquisition or leasing of property. If a document, such as a Sale & Purchase Agreement or Tenancy Agreement, is executed in Singapore, the buyer must pay this duty within 14 days of its date. However, payment must be made for documents signed abroad within 30 days of their arrival in Singapore. Not only is it unlawful to utilise a document on which Stamp Duty hasn’t been paid, but it’s also vital to understand that only documents with paid Stamp Duty can be presented as evidence in court during disputes. In Singapore, there are two main stamp duty when purchasing a residential property: Buyer’s Stamp Duty (BSD) and Additional Buyer’s Stamp Duty (ABSD). Note: If you’d like to calculate the Buyer’s Stamp Duty applicable to your property, use our Stamp Duty Calculator for a quick and accurate estimate. [Stamp Duty Calculator](https://propertynet.sg/stamp-duty-calculator) So what is Buyer’s Stamp Duty? Buyer’s Stamp Duty is tax paid upon accepting Option to Purchase (OTP) / Sale & Purchase Agreements (S\&P). These documents (i.e., OTP or S\&P) are prepared and signed when you buy or sell your property. Stamp Duty is payable on the actual or market price, whichever is higher. The buyer is responsible for paying the Buyer’s Stamp Duty. Where Seller’s Stamp Duty is applicable, the seller is responsible for paying Seller’s Stamp Duty. Calculation of Buyer’s Stamp Duty: PAYMENT SCHEDULE OF STAMP DUTY Purchase Price or Market Value of the Property (whichever higher) BSD Rates for Residential Properties First \$180,000 1% Next \$180,000 2% Next \$640,000 3% Next \$500,000 4% Next \$1,500,000 5% Remaining Amount 6% So what is Additional Buyer’s Stamp Duty? The Additional Buyer’s Stamp Duty (ABSD) is a tax levied on top of the existing Buyer’s Stamp Duty (BSD) when buying or acquiring property. It is computed on the purchase price as stated in the dutiable document or the property’s market value, whichever is the higher amount. The Government introduced the ABSD on 8 December 2011 to moderate demand for residential property, ensuring that residential property remains affordable for Singaporeans and that prices move in tandem with economic fundamentals. The ABSD rates were raised several times, the latest being on 27 Apr 2023, to promote a sustainable property market. The rates vary depending on the buyer’s profile as at the date of purchase or acquisition of the residential property. For example, Singapore Citizens (SCs) buying their first property are not required to pay ABSD, but SCs buying their second property have to pay 20% ABSD. Foreigners buying any property in Singapore must pay an ABSD rate of 60%, except foreigners who are Nationals or Permanent Residents of Iceland, Liechtenstein, Norway or Switzerland and Nationals of the United States of America. These foreigners will be accorded the same Stamp Duty treatment as Singapore Citizens. Entities (companies or associations) buying any property must pay an ABSD rate of 65%. Please note that these rates are applicable as of 27 April 2023 and may be subject to change. For details of Stamp Duty remission for property, please visit IRAS \| Common Stamp Duty Remissions and Reliefs for Property at a Glance. With that, here’s the ABSD rates: Profile of Buyer ABSD Rates Singapore Citizens (SC) buying first residential property1 Not applicable Profile of Buyer ABSD Rates SC buying second residential property1 20% Profile of Buyer ABSD Rates SC buying third and subsequent residential property1 30% Profile of Buyer ABSD Rates Singapore Permanent Residents (SPR) buying first residential property1 5% Profile of Buyer ABSD Rates SPR buying second residential property1 30% Profile of Buyer ABSD Rates SPR buying third and subsequent residential property1 35% Profile of Buyer ABSD Rates Foreigners (FR) buying any residential property1 60% Profile of Buyer ABSD Rates Entities2 buying any residential property1 65% Profile of Buyer ABSD Rates Housing Developers3 buying any residential property1 35%4(Plus Additional 5% (non-remittable)5) Profile of Buyer ABSD Rates Trustee6 buying any residential property1 65% ABSD will be rounded to the nearest dollar, with a minimum duty of \$1. Foot Note: 1 Whether owned wholly, partially or jointly with others. 2 An Entity means a person who is not an individual. It includes the following: An unincorporated association, A trustee for a collective investment scheme when acting in that capacity, A trustee-manager for a business trust when acting in that capacity The partnership partners, whether or not any of them is an individual, where the property conveyed, transferred or assigned is to be held as partnership property. 3 Housing Developers refer to entities in the business of housing development (i.e. construction and sale of housing units) with respect to the subject property acquired. These include trustees for housing developers, which will continue to be subject to the same ABSD rate as Housing Developers. 4 As entities, Housing Developers will also be subject to the ABSD rate for entities as follows: For the period on or after 16 Dec 2021, Housing Developers will be subject to the ABSD rate of 35%. Housing Developers may apply for remission of 35% ABSD, subject to conditions. 5 This 5% ABSD for Housing Developers is in addition to the 35% (on or after 16 Dec 2021) ABSD. This 5% will not be remitted and is to be paid upfront upon purchase of residential property. 6 Trustee refers to a trustee of any trust when acting in that capacity bt excludes the following: Trustee for a collective investment scheme when acting in that capacity; Trustee-manager for a business trust when acting in that capacity; and Trustee for a housing developer when acting in that capacity. Other pages you may be interested in: How to calculate Sales Proceeds from Sale of HDB? One of the best property agent company in Singapore How much cash is needed to buy a property in Singapore? ### Ready to *make your move?* Use our free tools to check affordability, compare projects and calculate stamp duty — or speak to an advisor. 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Readable Markdown
What is Stamp Duty? Before we delve into the specifics of buyer stamp duty and additional buyer stamp duty in Singapore, it’s crucial to grasp the basic concept of Stamp Duty. Stamp Duty is a tax imposed on documents linked to the acquisition or leasing of property. If a document, such as a Sale & Purchase Agreement or Tenancy Agreement, is executed in Singapore, the buyer must pay this duty within 14 days of its date. However, payment must be made for documents signed abroad within 30 days of their arrival in Singapore. Not only is it unlawful to utilise a document on which Stamp Duty hasn’t been paid, but it’s also vital to understand that only documents with paid Stamp Duty can be presented as evidence in court during disputes. In Singapore, there are two main stamp duty when purchasing a residential property: Buyer’s Stamp Duty (BSD) and Additional Buyer’s Stamp Duty (ABSD). Note: If you’d like to calculate the Buyer’s Stamp Duty applicable to your property, use our Stamp Duty Calculator for a quick and accurate estimate. [Stamp Duty Calculator](https://propertynet.sg/stamp-duty-calculator) So what is Buyer’s Stamp Duty? Buyer’s Stamp Duty is tax paid upon accepting Option to Purchase (OTP) / Sale & Purchase Agreements (S\&P). These documents (i.e., OTP or S\&P) are prepared and signed when you buy or sell your property. Stamp Duty is payable on the actual or market price, whichever is higher. The buyer is responsible for paying the Buyer’s Stamp Duty. Where Seller’s Stamp Duty is applicable, the seller is responsible for paying Seller’s Stamp Duty. Calculation of Buyer’s Stamp Duty: PAYMENT SCHEDULE OF STAMP DUTY Purchase Price or Market Value of the Property (whichever higher) BSD Rates for Residential Properties First \$180,000 1% Next \$180,000 2% Next \$640,000 3% Next \$500,000 4% Next \$1,500,000 5% Remaining Amount 6% So what is Additional Buyer’s Stamp Duty? The Additional Buyer’s Stamp Duty (ABSD) is a tax levied on top of the existing Buyer’s Stamp Duty (BSD) when buying or acquiring property. It is computed on the purchase price as stated in the dutiable document or the property’s market value, whichever is the higher amount. The Government introduced the ABSD on 8 December 2011 to moderate demand for residential property, ensuring that residential property remains affordable for Singaporeans and that prices move in tandem with economic fundamentals. The ABSD rates were raised several times, the latest being on 27 Apr 2023, to promote a sustainable property market. The rates vary depending on the buyer’s profile as at the date of purchase or acquisition of the residential property. For example, Singapore Citizens (SCs) buying their first property are not required to pay ABSD, but SCs buying their second property have to pay 20% ABSD. Foreigners buying any property in Singapore must pay an ABSD rate of 60%, except foreigners who are Nationals or Permanent Residents of Iceland, Liechtenstein, Norway or Switzerland and Nationals of the United States of America. These foreigners will be accorded the same Stamp Duty treatment as Singapore Citizens. Entities (companies or associations) buying any property must pay an ABSD rate of 65%. Please note that these rates are applicable as of 27 April 2023 and may be subject to change. For details of Stamp Duty remission for property, please visit IRAS \| Common Stamp Duty Remissions and Reliefs for Property at a Glance. With that, here’s the ABSD rates: Profile of Buyer ABSD Rates Singapore Citizens (SC) buying first residential property1 Not applicable Profile of Buyer ABSD Rates SC buying second residential property1 20% Profile of Buyer ABSD Rates SC buying third and subsequent residential property1 30% Profile of Buyer ABSD Rates Singapore Permanent Residents (SPR) buying first residential property1 5% Profile of Buyer ABSD Rates SPR buying second residential property1 30% Profile of Buyer ABSD Rates SPR buying third and subsequent residential property1 35% Profile of Buyer ABSD Rates Foreigners (FR) buying any residential property1 60% Profile of Buyer ABSD Rates Entities2 buying any residential property1 65% Profile of Buyer ABSD Rates Housing Developers3 buying any residential property1 35%4(Plus Additional 5% (non-remittable)5) Profile of Buyer ABSD Rates Trustee6 buying any residential property1 65% ABSD will be rounded to the nearest dollar, with a minimum duty of \$1. Foot Note: 1 Whether owned wholly, partially or jointly with others. 2 An Entity means a person who is not an individual. It includes the following: An unincorporated association, A trustee for a collective investment scheme when acting in that capacity, A trustee-manager for a business trust when acting in that capacity The partnership partners, whether or not any of them is an individual, where the property conveyed, transferred or assigned is to be held as partnership property. 3 Housing Developers refer to entities in the business of housing development (i.e. construction and sale of housing units) with respect to the subject property acquired. These include trustees for housing developers, which will continue to be subject to the same ABSD rate as Housing Developers. 4 As entities, Housing Developers will also be subject to the ABSD rate for entities as follows: For the period on or after 16 Dec 2021, Housing Developers will be subject to the ABSD rate of 35%. Housing Developers may apply for remission of 35% ABSD, subject to conditions. 5 This 5% ABSD for Housing Developers is in addition to the 35% (on or after 16 Dec 2021) ABSD. This 5% will not be remitted and is to be paid upfront upon purchase of residential property. 6 Trustee refers to a trustee of any trust when acting in that capacity bt excludes the following: Trustee for a collective investment scheme when acting in that capacity; Trustee-manager for a business trust when acting in that capacity; and Trustee for a housing developer when acting in that capacity. Other pages you may be interested in: How to calculate Sales Proceeds from Sale of HDB? One of the best property agent company in Singapore How much cash is needed to buy a property in Singapore?
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