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Taxes and Stamp Duties

Property buyers are liable to pay property tax and stamp duties when buying and owning any property.

Blue Personal Objects
Singapore has established a very competitive and fair property-related tax system to regulate the property market. When you purchase a new launch development, you are subject to pay property-related taxes.

 

These taxations consist of:

  • Buyer’s Stamp Duty

  • Goods and Services Tax (GST) is applied when you buy a commercial property if the seller is GST registered. The GST rate in Singapore is currently set at 7%. In 2023, it will be increased to 8% and in 2024, up to 9%.
     

After you become the proud homeowner, you are subject to pay Property Tax annually, or Seller’s Stamp Duty when you plan to sell your home within 3 years from the date on which you exercise the Sales & Purchase Agreement.
 

  • Seller's Stamp Duty

  • Yearly Property Taxation and

  • Rental Income Tax.

There are three types of duties payable on the sale, purchase, acquisition or disposal of properties in Singapore:

Buyer’s Stamp Duty (BSD)
Buyers are required to pay stamp duty on documents (dutiable documents) executed for the sale and purchase of any property. The stamp duty is computed on the purchase price or market value of the property, whichever is higher. Dutiable documents include both the physical and electronic versions of the following. Learn more here .
Please refer to Table A
 

Additional Buyer’s Stamp Duty (ABSD):
As of 7 December 2011, ABSD is applicable when you buy or acquire residential properties (including residential land). 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).

All buyers/transferees (i.e. individuals, entities including housing developers) are required to complete the ABSD Declaration Form to be witnessed by their lawyers (if applicable). The completed form need not be submitted to IRAS but it should be retained for at least 5 years from the date of purchase/acquisition of the property as IRAS may request for it for audit purposes.   
Please refer to Table B
 

Seller’s Stamp Duty (SSD):
SSD is a Stamp Duty imposed on sellers who sell or dispose of their property within a certain period of time.

The seller stamp duty taxation is applied on residential and industrial real estate. Its rates are as described below:

  • Sell within 1st year: 12% of selling cost or valuation, whichever is higher;

  • Sell within 2nd year: 8% of selling cost or valuation, whichever is higher;

  • Sell within 3rd year: 4% of selling cost or valuation, whichever is higher

Learn more
 

Yearly property taxation
Just like in any other state, owning a property in Singapore requires the payment of yearly property taxation. This type of tax on a property purchase in Singapore depends on whether the real estate is owner-occupied or it is investment real estate. Learn more
 

Rental income tax.
The rental income tax in Singapore is the real estate tax which is due if you rent a part of or the entire real estate.
Learn more

Table A: Buyer's Stamp Duty

Table B : Additional Buyer's Stamp Duty

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