Singapore legislation

Schedule 1

of Stamp Duties Act 1929

Schedule 1

Instruments chargeable with stamp duty

FIRST SCHEDULESections 4(1), 15, 15A(1), 22A(1), 23, 23B, 23C, 60M(8) and 78Instruments chargeable with stamp dutyIn this Schedule, the amount of proper stamp duty is to be rounded down to the nearest dollar where applicable, subject to a minimum stamp duty of $1 per instrument.Article 1Bond, covenant or instrument for securing paymentDescription of instrument Proper stamp dutyBond, covenant or instrument for securing the payment for the hire of furniture, chattels, fittings or equipment in connection with the lease of immovable property and for the provision of services or facilities or to other matters or things in connection with such lease The same duty as a lease (Article 8)Article 2contract note[Deleted by S 288/2000]Article 3Conveyance, assignment or transferDescription of instrument Proper stamp duty(a)Conveyance, assignment or transfer on sale of any immovable property or any interest of the immovable property —

(i)

if executed before 22 February 2014 — Amount of consideration (A)for every $100 or any part thereof of the first $180,000 $1(B)for every $100 or any part thereof of the next $180,000 $2(C)thereafter for every $100 or any part thereof $3(ii)if executed on or after 22 February 2014 but before 20 February 2018 — Amount of consideration (A)for every dollar of the first $180,000 1%(B)for every dollar of the next $180,000 2%(C)for every dollar exceeding $360,000 3%(iii)if executed on or after 20 February 2018 —

(A)

for the amount of the consideration of the part of the property attributable to a residential purpose (if any) —

(AA)for every dollar of the first $180,000 1%(AB)for every dollar of the next $180,000 2%(AC)for every dollar of the next $640,000 3%(AD)for every dollar exceeding $1,000,000 4%(B)for any remainder of the consideration —

(BA)for every dollar of the first $180,000 1%(BB)for every dollar of the next $180,000 2%(BC)for every dollar exceeding $360,000 3% (b)Conveyance, assignment or transfer on sale of residential property acquired on or after 20 February 2010 but before 30 August 2010 In addition to duty under paragraph (a), where the property is disposed of within one year from the date of its acquisition:Amount of consideration or value (whichever is applicable) of the residential property (i)for every $100 or any part thereof of the first $180,000 $1(ii)for every $100 or any part thereof of the next $180,000 $2(iii)thereafter for every $100 or any part thereof $3 (ba)Conveyance, assignment or transfer on sale of residential property acquired on or after 30 August 2010 but before 14 January 2011 In addition to duty under paragraph (a) and either paragraph (bc) or (bf) (as applicable), where the property is disposed of in the following period from the date of its acquisition:Amount of consideration or value (whichever is applicable) of the residential property Within one yearExceeding one year but not exceeding 2 yearsExceeding 2 years but not exceeding 3 years(i)for every $100 or any part thereof of the first $180,000 $1$0.67$0.33(ii)for every $100 or any part thereof of the next $180,000 $2$1.33$0.67(iii)thereafter for every $100 or any part thereof $3$2$1 (bb)Conveyance, assignment or transfer on sale of residential property acquired on or after 14 January 2011 but before 12 January 2013, if the property is disposed of in the following period from the date of its acquisition: In addition to duty under paragraph (a) and either paragraph (bc) or (bf) (as applicable):

(i)

within one year 16% of amount of consideration or value (whichever is applicable) of the residential property(ii)exceeding one year but not exceeding 2 years 12% of amount of such consideration or value(iii)exceeding 2 years but not exceeding 3 years 8% of amount of such consideration or value(iv)exceeding 3 years but not exceeding 4 years 4% of amount of such consideration or value (bc)Conveyance, assignment or transfer on sale of residential property (whether or not any other type of property is also conveyed, assigned or transferred under the same instrument), executed on or after 8 December 2011 but before 12 January 2013 — In addition to duty under paragraph (a) and either paragraph (ba) or (bb) (as applicable):

(i)

if —

(A)

the grantee, transferee or lessee is a Singapore citizen owning 2 or more properties, or any of 2 or more joint grantees, transferees or lessees is a Singapore citizen owning 2 or more properties and none of the other joint grantees, transferees or lessees is a foreigner or an entity; and

(B)

one or more residential properties is or are conveyed, assigned or transferred under the instrument 3% of the amount or the total amount of consideration of the residential property or properties conveyed, assigned or transferred(ii)if —

(A)

the grantee, transferee or lessee is a Singapore citizen owning one property, or any of 2 or more joint grantees, transferees or lessees is a Singapore citizen owning one property and none of the other joint grantees, transferees or lessees is a Singapore citizen owning 2 or more properties, a Singapore permanent resident owning property, a foreigner or an entity; and

(B)

(A)

the grantee, transferee or lessee is a Singapore citizen not owning property, or any of 2 or more joint grantees, transferees or lessees is a Singapore citizen not owning property and none of the other joint grantees, transferees or lessees is a Singapore citizen owning one property or owning 2 or more properties, a Singapore permanent resident not owning property or owning property, a foreigner or an entity; and

(B)

3 or more residential properties are conveyed, assigned or transferred under the instrument 3% of the total amount of consideration of the residential properties conveyed, assigned or transferred, after deducting the total amount of consideration for any 2 of those residential properties, as elected by the person paying the duty(iv)if the grantee, transferee or lessee is a Singapore permanent resident owning property, or any of 2 or more joint grantees, transferees or lessees is a Singapore permanent resident owning property and none of the other joint grantees, transferees or lessees is a foreigner or an entity 3% of the amount or the total amount of consideration of the residential property or properties conveyed, assigned or transferred(v)if —

(A)

(B)

2 or more residential properties are conveyed, assigned or transferred under the instrument 3% of the total amount of consideration of the residential properties conveyed, assigned or transferred, after deducting the amount of consideration for any one of those residential properties, as elected by the person paying the duty(vi)if the grantee, transferee or lessee, or any of 2 or more joint grantees, transferees or lessees is a foreigner or an entity 10% of the amount or the total amount of consideration of the residential property or properties conveyed, assigned or transferred (bd)Conveyance, assignment or transfer on sale of industrial property acquired on or after 12 January 2013, if the property is disposed of in the following period from the date of its acquisition: In addition to duty under paragraphs (a) and (bf):

(i)

within one year 15% of the amount of consideration or value (whichever is applicable) of the part of the property attributable to an industrial purpose at the time of the execution of the instrument(ii)exceeding one year but not exceeding 2 years 10% of the amount of consideration or value (whichever is applicable) of the part of the property attributable to an industrial purpose at the time of the execution of the instrument(iii)exceeding 2 years but not exceeding 3 years 5% of the amount of consideration or value (whichever is applicable) of the part of the property attributable to an industrial purpose at the time of the execution of the instrument (be)Conveyance, assignment or transfer on sale of “residential and mixed residential” property acquired on or after 12 January 2013 but before 11 March 2017, if the property is disposed of in the following period from the date of its acquisition: In addition to duty under paragraphs (a) and (bf):

(i)

within one year The aggregate of the following (as applicable):

(A)

15% of the amount of consideration or value (whichever is applicable) of the part of the property attributable to an industrial purpose at the time of the execution of the instrument;

(B)

16% of the amount of consideration or value (whichever is applicable) of the part of the property attributable to a residential purpose at the time of the execution of the instrument(ii)exceeding one year but not exceeding 2 years The aggregate of the following (as applicable):

(A)

10% of the amount of consideration or value (whichever is applicable) of the part of the property attributable to an industrial purpose at the time of the execution of the instrument;

(B)

12% of the amount of consideration or value (whichever is applicable) of the part of the property attributable to a residential purpose at the time of the execution of the instrument(iii)exceeding 2 years but not exceeding 3 years The aggregate of the following (as applicable):

(A)

5% of the amount of consideration or value (whichever is applicable) of the part of the property attributable to an industrial purpose at the time of the execution of the instrument;

(B)

8% of the amount of consideration or value (whichever is applicable) of the part of the property attributable to a residential purpose at the time of the execution of the instrument(iv)exceeding 3 years but not exceeding 4 years 4% of the amount of consideration or value (whichever is applicable) of the part of the property attributable to a residential purpose at the time of the execution of the instrument (as applicable) (bf)Conveyance, assignment or transfer on sale of residential property (whether or not any other type of property is also conveyed, assigned or transferred under the same instrument), executed on or after 12 January 2013 but before 16 December 2021 — In addition to duty under paragraph (a), and either paragraph (ba), (bb), (be) or (bg) (as applicable):

(i)

if —

(A)

(B)

one residential property is conveyed, assigned or transferred under the instrument (a)7% of the amount of consideration of the residential property conveyed, assigned or transferred, if the instrument is executed before 6 July 2018; or

(b)

12% of the amount of consideration of the residential property conveyed, assigned or transferred, if the instrument is executed on or after 6 July 2018(ii)if —

(A)

(B)

one residential property is conveyed, assigned or transferred under the instrument 5% of the amount of consideration of the residential property conveyed, assigned or transferred(iii)if —

(A)

the grantee, transferee or lessee is a Singapore citizen owning 2 or more properties or a Singapore permanent resident owning property, or any of 2 or more joint grantees, transferees or lessees is a Singapore citizen owning 2 or more properties or a Singapore permanent resident owning property, and none of the other joint grantees, transferees or lessees is a foreigner or an entity; and

(B)

one or more residential properties is or are conveyed, assigned or transferred under the instrument (a)10% of the amount or the total amount of consideration of the residential property or properties conveyed, assigned or transferred, if the instrument is executed before 6 July 2018; or

(b)

15% of the amount or the total amount of consideration of the residential property or properties conveyed, assigned or transferred, if the instrument is executed on or after 6 July 2018(iv)if —

(A)

(B)

2 residential properties are conveyed, assigned or transferred under the instrument (a)7% of the amount of consideration of any one of the residential properties conveyed, assigned or transferred, as elected by the person paying the duty, if the instrument is executed before 6 July 2018; or

(b)

12% of the amount of consideration of any one of the residential properties conveyed, assigned or transferred, as elected by the person paying the duty, if the instrument is executed on or after 6 July 2018(v)if —

(A)

(B)

3 or more residential properties are conveyed, assigned or transferred under the instrument (a)if the instrument is executed before 6 July 2018, the aggregate of the following:

(i)

7% of the amount of consideration of any one of the residential properties conveyed, assigned or transferred, as elected by the person paying the duty;

(ii)

10% of the total amount of consideration of the other residential properties conveyed, assigned or transferred, after deducting the amount of consideration of any one of those other residential properties, as elected by that person; or

(b)

if the instrument is executed on or after 6 July 2018, the aggregate of the following:

(i)

12% of the amount of consideration of any one of the residential properties conveyed, assigned or transferred, as elected by the person paying the duty;

(ii)

15% of the total amount of consideration of the other residential properties conveyed, assigned or transferred, after deducting the amount of consideration of any one of those other residential properties, as elected by that person(vi)if —

(A)

the grantee, transferee or lessee is a Singapore citizen owning one property, or any of 2 or more joint grantees, transferees or lessees is a Singapore citizen owning one property, and none of the other joint grantees, transferees or lessees is a Singapore citizen owning 2 or more properties, a Singapore permanent resident owning property, a foreigner or an entity; and

(B)

2 or more residential properties are conveyed, assigned or transferred under the instrument (a)if the instrument is executed before 6 July 2018, the aggregate of the following:

(i)

7% of the amount of consideration of any one of the residential properties conveyed, assigned or transferred, as elected by the person paying the duty;

(ii)

10% of the amount or the total amount of consideration of the other residential property or properties conveyed, assigned or transferred; or

(b)

if the instrument is executed on or after 6 July 2018, the aggregate of the following:

(i)

12% of the amount of consideration of any one of the residential properties conveyed, assigned or transferred, as elected by the person paying the duty;

(ii)

15% of the amount or the total amount of consideration of the other residential property or properties conveyed, assigned or transferred(vii)if —

(A)

(B)

2 or more residential properties are conveyed, assigned or transferred under the instrument (a)if the instrument is executed before 6 July 2018, the aggregate of the following:

(i)

5% of the amount of consideration of any one of the residential properties conveyed, assigned or transferred, as elected by the person paying the duty;

(ii)

10% of the amount or the total amount of consideration of the other residential property or properties conveyed, assigned or transferred; or

(b)

if the instrument is executed on or after 6 July 2018, the aggregate of the following:

(i)

5% of the amount of consideration of any one of the residential properties conveyed, assigned or transferred, as elected by the person paying the duty;

(ii)

15% of the amount or the total amount of consideration of the other residential property or properties conveyed, assigned or transferred(viii)if the grantee, transferee or lessee, or any of 2 or more joint grantees, transferees or lessees is a foreigner, and none of the other joint grantees, transferees or lessees is an entity (a)15% of the amount or the total amount of consideration of the residential property or properties conveyed, assigned or transferred, if the instrument is executed before 6 July 2018; or

(b)

20% of the amount or the total amount of consideration of the residential property or properties conveyed, assigned or transferred, if the instrument is executed on or after 6 July 2018(ix)if the grantee, transferee or lessee, or any of 2 or more joint grantees, transferees or lessees is an entity (other than a housing developer), and none of the other joint grantees, transferees or lessees is a housing developer (a)15% of the amount or the total amount of consideration of the residential property or properties conveyed, assigned or transferred, if the instrument is executed before 6 July 2018; or

(b)

25% of the amount or the total amount of consideration of the residential property or properties conveyed, assigned or transferred, if the instrument is executed on or after 6 July 2018(x)if the grantee, transferee or lessee, or any of 2 or more joint grantees, transferees or lessees is a housing developer (a)15% of the amount or the total amount of consideration of the residential property or properties conveyed, assigned or transferred, if the instrument is executed before 6 July 2018; or

(b)

30% of the amount or the total amount of consideration of the residential property or properties conveyed, assigned or transferred, if the instrument is executed on or after 6 July 2018 (bg)Conveyance, assignment or transfer on sale of “residential and mixed residential” property acquired on or after 11 March 2017, if the property is disposed of in the following period from the date of its acquisition: In addition to duty under paragraph (a), and either paragraph (bf) or (bh) (as applicable):

(i)

within one year The aggregate of the following (as applicable):

(A)

15% of the amount of consideration or value (whichever is applicable) of the part of the property attributable to an industrial purpose at the time of the execution of the instrument;

(B)

12% of the amount of consideration or value (whichever is applicable) of the part of the property attributable to a residential purpose at the time of the execution of the instrument(ii)exceeding one year but not exceeding 2 years The aggregate of the following (as applicable):

(A)

10% of the amount of consideration or value (whichever is applicable) of the part of the property attributable to an industrial purpose at the time of the execution of the instrument;

(B)

(A)

5% of the amount of consideration or value (whichever is applicable) of the part of the property attributable to an industrial purpose at the time of the execution of the instrument;

(B)

4% of the amount of consideration or value (whichever is applicable) of the part of the property attributable to a residential purpose at the time of the execution of the instrument (bh)Conveyance, assignment or transfer on sale of residential property (whether or not any other type of property is also conveyed, assigned or transferred under the same instrument), executed on or after 16 December 2021 — In addition to duty under paragraphs (a) and (bg):

(i)

if —

(A)

the grantee, transferee or lessee is a Singapore permanent resident not owning property, or any of 2 or more joint grantees, transferees or lessees is a Singapore permanent resident not owning property and none of the other joint grantees, transferees or lessees is a Singapore citizen owning one property or owning 2 or more properties, a Singapore permanent resident owning property, a foreigner or an entity; and 5% of the amount of consideration of the residential property conveyed, assigned or transferred(B)one residential property is conveyed, assigned or transferred under the instrument (ii)if —

(A)

(B)

2 residential properties are conveyed, assigned or transferred under the instrument 17% of the amount of consideration of any one of the residential properties conveyed, assigned or transferred, as elected by the person paying the duty(iii)if —

(A)

(B)

one residential property is conveyed, assigned or transferred under the instrument 17% of the amount of consideration of the residential property conveyed, assigned or transferred(iv)if —

(A)

(B)

2 residential properties are conveyed, assigned or transferred under the instrument The aggregate of the following:

(a)

5% of the amount of consideration of any one of the residential properties conveyed, assigned or transferred, as elected by the person paying the duty; (b)25% of the amount of consideration of the other residential property conveyed, assigned or transferred(v)if —

(A)

the grantee, transferee or lessee is a Singapore permanent resident owning one property, or any of 2 or more joint grantees, transferees or lessees is a Singapore permanent resident owning one property and none of the other joint grantees, transferees or lessees is a Singapore permanent resident owning 2 or more properties, a foreigner or an entity; and

(B)

one residential property is conveyed, assigned or transferred under the instrument 25% of the amount of consideration of the residential property conveyed, assigned or transferred(vi)if —

(A)

(B)

3 or more residential properties are conveyed, assigned or transferred under the instrument The aggregate of the following:

(a)

17% of the amount of consideration of any one of the residential properties conveyed, assigned or transferred, as elected by the person paying the duty; (b)25% of the total amount of consideration of the other residential properties conveyed, assigned or transferred, after deducting the amount of consideration of any one of those other residential properties, as elected by that person(vii)if —

(A)

the grantee, transferee or lessee is a Singapore citizen owning one property, or any of 2 or more joint grantees, transferees or lessees is a Singapore citizen owning one property, and none of the other joint grantees, transferees or lessees is a Singapore citizen owning 2 or more properties, a Singapore permanent resident owning property, a foreigner or an entity; and

(B)

2 residential properties are conveyed, assigned or transferred under the instrument The aggregate of the following:

(a)

17% of the amount of consideration of any one of the residential properties conveyed, assigned or transferred, as elected by the person paying the duty; (b)25% of the amount of consideration of the other residential property conveyed, assigned or transferred(viii)if —

(A)

the grantee, transferee or lessee is a Singapore citizen owning one property, or any of 2 or more joint grantees, transferees or lessees is a Singapore citizen owning one property, and none of the other joint grantees, transferees or lessees is a Singapore citizen owning 2 or more properties, a Singapore permanent resident, a foreigner or an entity; and

(B)

3 or more residential properties are conveyed, assigned or transferred under the instrument The aggregate of the following:

(a)

17% of the amount of consideration of any one of the residential properties conveyed, assigned or transferred, as elected by the person paying the duty; (b)25% of the total amount of consideration of the other residential properties conveyed, assigned or transferred(ix)if there are 2 or more joint grantees, transferees or lessees and —

(A)

any of them is a Singapore citizen owning one property;

(B)

any of the others is a Singapore permanent resident not owning property;

(C)

none of the others is a Singapore citizen owning 2 or more properties, a Singapore permanent resident owning property, a foreigner or an entity; and

(D)

3 or more residential properties are conveyed, assigned or transferred under the instrument The aggregate of the following:

(a)

17% of the amount of consideration of any one of the residential properties conveyed, assigned or transferred, as elected by the person paying the duty;

(b)

25% of the amount of consideration of another of the residential properties conveyed, assigned or transferred, as elected by the person paying the duty; (c)30% of the amount or the total amount of consideration of the other residential property or properties conveyed, assigned or transferred(x)if —

(A)

the grantee, transferee or lessee is a Singapore citizen owning 2 or more properties, or any of 2 or more joint grantees, transferees or lessees is a Singapore citizen owning 2 or more properties, and none of the other joint grantees, transferees or lessees is a Singapore permanent resident owning 2 or more properties, a foreigner or an entity; and

(B)

one residential property is conveyed, assigned or transferred under the instrument 25% of the amount of consideration of the residential property conveyed, assigned or transferred(xi)if —

(A)

the grantee, transferee or lessee is a Singapore citizen owning 2 or more properties, or any of 2 or more joint grantees, transferees or lessees is a Singapore citizen owning 2 or more properties, and none of the other joint grantees, transferees or lessees is a Singapore permanent resident owning property, a foreigner or an entity; and

(B)

2 residential properties are conveyed, assigned or transferred under the instrument 25% of the total amount of consideration of the residential properties conveyed, assigned or transferred(xii)if —

(A)

(B)

3 or more residential properties are conveyed, assigned or transferred under the instrument 25% of the total amount of consideration of the residential properties conveyed, assigned or transferred(xiii)if there are 2 or more joint grantees, transferees or lessees and —

(A)

any of them is a Singapore citizen owning 2 or more properties;

(B)

any of the others is a Singapore permanent resident not owning property;

(C)

none of the others is a Singapore permanent resident owning property, a foreigner or an entity; and

(D)

3 or more residential properties are conveyed, assigned or transferred under the instrument The aggregate of the following:

(a)

25% of the amount of consideration of any 2 of the residential properties conveyed, assigned or transferred, as elected by the person paying the duty; (b)30% of the amount or total amount of consideration of the other residential property or properties conveyed, assigned or transferred(xiv)if —

(A)

(B)

3 or more residential properties are conveyed, assigned or transferred under the instrument The aggregate of the following:

(a)

5% of the amount of consideration of any one of the residential properties conveyed, assigned or transferred, as elected by the person paying the duty;

(b)

(A)

the grantee, transferee or lessee is a Singapore permanent resident owning one property, or any of 2 or more joint grantees, transferees or lessees is a Singapore permanent resident owning one property, and none of the other joint grantees, transferees or lessees is a Singapore permanent resident owning 2 or more properties, a foreigner or an entity; and

(B)

2 or more residential properties are conveyed, assigned or transferred under the instrument The aggregate of the following:

(a)

25% of the amount of consideration of any one of the residential properties conveyed, assigned or transferred, as elected by the person paying the duty; (b)30% of the amount or the total amount of consideration of the other residential property or properties conveyed, assigned or transferred(xvi)if —

(A)

the grantee, transferee or lessee is a Singapore permanent resident owning 2 or more properties, or any of 2 or more joint grantees, transferees or lessees is a Singapore permanent resident owning 2 or more properties, and none of the other joint grantees, transferees or lessees is an entity; and

(B)

one or more residential properties is or are conveyed, assigned or transferred under the instrument 30% of the amount or the total amount of consideration of the residential property or properties conveyed, assigned or transferred(xvii)if the grantee, transferee or lessee, or any of 2 or more joint grantees, transferees or lessees is a foreigner, and none of the other joint grantees, transferees or lessees is an entity 30% of the amount or the total amount of consideration of the residential property or properties conveyed, assigned or transferred(xviii)if the grantee, transferee or lessee, or any of 2 or more joint grantees, transferees or lessees is an entity (other than a housing developer), and none of the other joint grantees, transferees or lessees is a housing developer 35% of the amount or the total amount of consideration of the residential property or properties conveyed, assigned or transferred(xix)if the grantee, transferee or lessee, or any of 2 or more joint grantees, transferees or lessees is a housing developer 40% of the amount or the total amount of consideration of the residential property or properties conveyed, assigned or transferred (c)Conveyance, assignment or transfer on sale of any stock or shares or any interest of the stocks and shares —

(i)

if executed before 22 February 2014 $0.20 for every $100 or any part thereof, of the amount of the consideration(ii)if executed on or after 22 February 2014 0.2% of the amount of the consideration (d)Conveyance, assignment or transfer of any property or any interest of the property by way of security See MORTGAGE, AGREEMENT FOR A MORTGAGE AND DEBENTURE (ARTICLE 9) (e)Conveyance, assignment or transfer of any property or any interest of the property by way of settlement See SETTLEMENT (ARTICLE 11) (f)[Deleted by Act 23 of 2011] (g)Conveyance, assignment or transfer of any property as above where the transaction is between trustees and where the beneficial interest in the property passes The same duty as in paragraph (a) or (c), as the case may be (h)Conveyance, assignment or transfer of any property or any interest of any property which is distributed in specie to a shareholder of a company in connection with a liquidation of the company Exemption: In a case where the conveyance, assignment or transfer is effected by more than one instrument and one instrument has been duly stamped, each other instrument. The same duty as in paragraph (a) or (c), as the case may be (i)Conveyance, assignment or transfer of any property or any interest of property which is distributed in specie to a shareholder of a VCC in connection with a liquidation of the VCC or any of its sub‑funds The same duty as in paragraph (a) or (c), as the case may be Exemption: In a case where the conveyance, assignment or transfer is effected by more than one instrument and one instrument has been duly stamped, each other instrument. Notes:(1) In this Article —“entity” means a person who is not an individual, and includes an unincorporated association, a VCC (whether or not acting for the purpose of a sub‑fund), a trustee for a collective investment scheme (not being one that is a VCC or a sub‑fund) when acting in that capacity, a trustee‑manager for a business trust when acting in that capacity and, in a case where the property conveyed, assigned or transferred is to be held as partnership property, the partners of the partnership whether or not any of them is an individual;“foreigner” means an individual who is not a citizen of Singapore and not a permanent resident of Singapore;“housing accommodation” includes a building or tenement wholly or principally constructed, adapted or intended for human habitation, or for human habitation and as business premises, but excludes a serviced apartment and a workers’ dormitory;“housing developer” means an entity —

(a)

that is a licensed housing developer within the meaning of the Housing Developers (Control and Licensing) Act 1965;

(b)

that is an applicant for a licence within the meaning of that Act and whose application is not refused, or that intends to apply for such licence; or

(c)

that engages or intends to engage in a business of housing development,but only if the residential property or properties is or are conveyed, assigned or transferred to the entity for the purpose of housing development by the entity;“housing development” means the construction of any number of units of housing accommodation, including any building operations in, on, over or under the land for the purpose of erecting such housing accommodation, and the sale of land which would be appurtenant to one or more such units of housing accommodation;“industrial property” means any specified immovable property (or part thereof) mentioned in paragraph 8(1)(a) of the Stamp Duties (Section 22A) Order 2010, but excludes any “residential or mixed residential” property;“property” means any immovable property and any stock or shares;“residential property” means —

(a)

in the case of paragraph (bc) of this Article, immovable property (or part thereof) which, under the Master Plan, may be used for solely residential purposes or for mixed purposes, one of which is residential; or

(b)

in the case of paragraph (bf) or (bh) of this Article, any immovable property that is either —

(i)

zoned or situated on land that is zoned in any of the following manner under the Master Plan:

(A)

“Residential”;

(B)

“Commercial and Residential”;

(C)

“Residential/Institution”;

(D)

“Residential with Commercial at 1st Storey”;

(E)

“White”; or

(ii)

permitted under the Planning Act 1998 to be used for solely residential purposes or for mixed purposes, one of which is residential;“residential or mixed residential” property means any specified immovable property (or part thereof) mentioned in paragraph 8(1)(b) of the Stamp Duties (Section 22A) Order 2010;“Singapore citizen not owning property” means a citizen of Singapore who, if not for the transaction which is the subject of the instrument to be stamped, does not beneficially own (whether alone or jointly or in common with another) an estate or interest in any residential property situated within Singapore;“Singapore citizen owning one property” means a citizen of Singapore who, if not for the transaction which is the subject of the instrument to be stamped, beneficially owns (whether alone or jointly or in common with another) an estate or interest in a single residential property situated within Singapore;“Singapore citizen owning 2 or more properties” means a citizen of Singapore who, if not for the transaction which is the subject of the instrument to be stamped, beneficially owns (whether alone or jointly or in common with another) an estate or interest in 2 or more residential properties situated within Singapore;“Singapore citizen owning 2 properties” means a citizen of Singapore who, if not for the transaction which is the subject of the instrument to be stamped, beneficially owns (whether alone or jointly or in common with another) an estate or interest in 2 residential properties situated within Singapore;“Singapore permanent resident not owning property” means a permanent resident of Singapore who, if not for the transaction which is the subject of the instrument to be stamped, does not beneficially own (whether alone or jointly or in common with another) an estate or interest in any residential property situated within Singapore;“Singapore permanent resident owning one property” means a permanent resident of Singapore who, if not for the transaction which is the subject of the instrument to be stamped, beneficially owns (whether alone or jointly or in common with another) an estate or interest in a single residential property situated within Singapore;“Singapore permanent resident owning 2 or more properties” means a permanent resident of Singapore who, if not for the transaction which is the subject of the instrument to be stamped, beneficially owns (whether alone or jointly or in common with another) an estate or interest in 2 or more residential properties situated within Singapore;“Singapore permanent resident owning property” means a permanent resident of Singapore who, if not for the transaction which is the subject of the instrument to be stamped, beneficially owns (whether alone or jointly or in common with another) an estate or interest in one or more residential properties situated within Singapore.(2) In this Article —

(a)

a reference to a Singapore citizen not owning property, a Singapore citizen owning one property, a Singapore citizen owning 2 properties, a Singapore citizen owning 2 or more properties, a Singapore permanent resident not owning property, a Singapore permanent resident owning one property, a Singapore permanent resident owning 2 or more properties, a Singapore permanent resident owning property, or a foreigner, is a reference to a person who comes within the definition or description of that term at the time of execution of the instrument in question;

(b)

a reference in paragraph (bc) of this Article to the amount of consideration of any residential property is, in a case where the property is used for mixed purposes one of which is residential, a reference to the amount of consideration that is attributable to that part of the property that is used for residential purposes;

(bb)a reference in paragraphs (bf) and (bh) of this Article to the amount of consideration of any residential property is a reference to the amount of consideration relating to the part of the property that is attributable to a residential purpose;

(bc)a reference in this Article to the amount of consideration includes a reference to the value of the consideration;

(c)

subject to paragraph (d), a reference to joint grantees, transferees or lessees is a reference to persons to whom the residential property in question is conveyed, assigned or transferred as joint tenants or as tenants in common;

(d)

except where the residential property is to be held as property of a business trust or a collective investment scheme or as partnership property, a reference to a grantee, transferee or lessee, in a case where the grantee, transferee or lessee is to hold the residential property on trust, is a reference to the beneficial owner; and where there is more than one beneficial owner (whether or not including the grantee, transferee or lessee), all the beneficial owners are treated as joint grantees, transferees or lessees; and

(e)

a reference to a grantee, transferee or lessee, in a case where the property is to be held as partnership property, is a reference to the partners of the partnership.(2A) For the purposes of paragraphs (a)(iii), (bd), (be) and (bg) of this Article and paragraph (2)(bb), where the property is —

(a)

vacant land; or

(b)

immovable property comprising the land as well as all units or buildings within a development on the land,then the gross floor area of the property specified in the second column of the following table, that corresponds to the applicable zoning of the land under the Master Plan in the first column, is deemed to be attributable to an industrial purpose; and the gross floor area of the property specified in the third column, that corresponds to the applicable zoning of the land under the Master Plan in the first column, is deemed to be attributable to a residential purpose:First columnSecond columnThird columnZoning of land under Master PlanPart of property deemed attributable to industrial purposePart of property deemed attributable to residential purposeWhite—100% of gross floor areaB1100% of gross floor area—B1 — WhiteThe minimum gross floor area which must be set aside for “B1 uses” under the Master Plan before “White uses” are allowed—B2100% of gross floor area—B2 — WhiteThe minimum gross floor area which must be set aside for “B2 uses” under the Master Plan before “White uses” are allowed—BP85% of gross floor area—BP — White100% of gross floor area less maximum percentage thereof which may be set aside for “White uses” under the Master Plan—Residential—100% of gross floor areaResidential/Institution—100% of gross floor areaCommercial and Residential—60% of gross floor areaResidential with commercial on the 1st storey—Total gross floor area less the minimum gross floor area which must be set aside for commercial uses under the Master Plan(2B) For the purposes of paragraphs (a)(iii), (bd), (be) and (bg) of this Article and paragraph (2)(bb), where the property is a building or part thereof —

(a)

a part of the property is attributable to an industrial purpose if it is permitted under the Planning Act 1998 to be used for any purpose set out in the Schedule to the Stamp Duties (Section 22A) Order 2010; and

(b)

a part of the property is attributable to a residential purpose if it is permitted under the Planning Act 1998 for a residential use.(2C) For the purposes of the definition of “residential property” as well as paragraph (2B), whether a building or part thereof is permitted under the Planning Act 1998 to be used for a particular purpose is to be determined in accordance with paragraph 6 of the Stamp Duties (Section 22A) Order 2010.(3) To avoid doubt, in determining if a person beneficially owns (whether alone or jointly or in common with another) an estate or interest in any number of residential properties situated within Singapore, any ownership of partnership property or property held on trust by the person is disregarded.(4) To avoid doubt —

(a)

a reference to the amount of consideration or value of property being conveyed, assigned or transferred includes a reference to the amount of consideration or value of the estate or interest in the property being conveyed, assigned or transferred; and

(b)

a reference to the number of residential properties being conveyed, assigned or transferred under an instrument includes a reference to the number of residential properties in which an estate or interest is being conveyed, assigned or transferred under the instrument.(5) If —

(a)

the grantee, transferee or lessee or any of 2 or more joint grantees, transferees or lessees under the instrument to be stamped is a relevant individual;

(b)

at the time of the execution of the instrument, the relevant individual beneficially owns jointly or in common with one or more other persons any estate or interest in any residential property other than by virtue of the transaction which is the subject of the instrument; and

(c)

that other person or any of those other persons conveys, assigns or transfers the person’s estate or interest (or any part thereof) in that property under the instrument to the grantee, transferee or lessee or joint grantees, transferees or lessees,then —

(d)

if no other residential property (or estate or interest in the property) besides that estate or interest is conveyed, assigned or transferred under the instrument, paragraph (bc), (bf) or (bh) of this Article does not apply to that instrument despite anything in that paragraph; or

(e)

in any other case, the conveyance, assignment or transfer of that estate or interest is disregarded in determining the applicability of paragraph (bc), (bf) or (bh) of this Article, including in determining the total number of residential properties being conveyed, assigned or transferred under the instrument and the amount of stamp duty payable.(6) Paragraph (5) (as it relates to paragraph (bc) of this Article) does not apply if —

(a)

the relevant individual is one of 2 or more joint grantees, transferees or lessees under the instrument; and

(b)

without considering the status of the relevant individual, sub‑paragraph (i), (ii), (iii), (iv), (v) or (vi) of paragraph (bc) of this Article applies to the instrument by virtue of the fact that the other joint grantee, transferee or lessee, or any of the other joint grantees, transferees or lessees, not being a relevant individual who satisfies paragraph (5)(b) in relation to that estate or interest, is —

(i)

in the case of sub‑paragraph (i) of paragraph (bc) of this Article, a Singapore citizen owning 2 or more properties;

(ii)

in the case of sub‑paragraph (ii) of paragraph (bc) of this Article, a Singapore citizen owning one property;

(iii)

in the case of sub‑paragraph (iii) of paragraph (bc) of this Article, a Singapore citizen not owning property;

(iv)

in the case of sub‑paragraph (iv) of paragraph (bc) of this Article, a Singapore permanent resident owning property;

(v)

in the case of sub‑paragraph (v) of paragraph (bc) of this Article, a Singapore permanent resident not owning property; or

(vi)

in the case of sub‑paragraph (vi) of paragraph (bc) of this Article, a foreigner or an entity.(7) Paragraph (5) (as it relates to paragraph (bf) of this Article) does not apply if —

(a)

the relevant individual is one of 2 or more joint grantees, transferees or lessees under the instrument; and

(b)

without considering the status of the relevant individual, sub‑paragraph (i), (ii), (iii), (iv), (v), (vi), (vii), (viii), (ix) or (x) of paragraph (bf) of this Article applies to the instrument by virtue of the fact that the other joint grantee, transferee or lessee, or any of the other joint grantees, transferees or lessees, not being a relevant individual who satisfies paragraph (5)(b) in relation to that estate or interest, is —

(i)

in the case of sub‑paragraph (i) of paragraph (bf) of this Article, a Singapore citizen owning one property;

(ii)

in the case of sub‑paragraph (ii) of paragraph (bf) of this Article, a Singapore permanent resident not owning property;

(iii)

in the case of sub‑paragraph (iii) of paragraph (bf) of this Article, a Singapore citizen owning 2 or more properties or a Singapore permanent resident owning property;

(iv)

in the case of sub‑paragraph (iv) or (v) of paragraph (bf) of this Article, a Singapore citizen not owning property;

(v)

in the case of sub‑paragraph (vi) of paragraph (bf) of this Article, a Singapore citizen owning one property;

(vi)

in the case of sub‑paragraph (vii) of paragraph (bf) of this Article, a Singapore permanent resident not owning property;

(vii)

in the case of sub‑paragraph (viii) of paragraph (bf) of this Article, a foreigner;

(viii)

in the case of sub‑paragraph (ix) of paragraph (bf) of this Article, an entity other than a housing developer; and

(ix)

in the case of sub‑paragraph (x) of paragraph (bf) of this Article, a housing developer.(7AA) Paragraph (5) (as it relates to paragraph (bh) of this Article) does not apply if the relevant individual is one of 2 or more joint grantees, transferees or lessees under the instrument, and, without considering the status of the relevant individual —

(a)

sub‑paragraph (i), (ii), (iii), (iv), (v), (vi), (vii), (viii), (x), (xi), (xii), (xiv), (xv), (xvi), (xvii), (xviii) or (xix) of paragraph (bh) of this Article applies to the instrument by virtue of the fact that the other joint grantee, transferee or lessee, or any of the other joint grantees, transferees or lessees (not being a relevant individual who satisfies paragraph (5)(b) in relation to that estate or interest) is —

(i)

in the case of sub‑paragraph (i), (iv) or (xiv) of paragraph (bh) of this Article — a Singapore permanent resident not owning property;

(ii)

in the case of sub‑paragraph (ii) or (vi) of paragraph (bh) of this Article — a Singapore citizen not owning property;

(iii)

in the case of sub‑paragraph (iii), (vii) or (viii) of paragraph (bh) of this Article — a Singapore citizen owning one property;

(iv)

in the case of sub‑paragraph (v) or (xv) of paragraph (bh) of this Article — a Singapore permanent resident owning one property;

(v)

in the case of sub‑paragraph (x), (xi) or (xii) of paragraph (bh) of this Article — a Singapore citizen owning 2 or more properties;

(vi)

in the case of sub‑paragraph (xvi) of paragraph (bh) of this Article — a Singapore permanent resident owning 2 or more properties;

(vii)

in the case of sub‑paragraph (xvii) of paragraph (bh) of this Article — a foreigner;

(viii)

in the case of sub‑paragraph (xviii) of paragraph (bh) of this Article — an entity other than a housing developer; and

(ix)

in the case of sub‑paragraph (xix) of paragraph (bh) of this Article — a housing developer; or

(b)

sub‑paragraph (ix) or (xiii) of paragraph (bh) of this Article applies to the instrument by virtue of the fact that —

(i)

in the case of sub‑paragraph (ix) of paragraph (bh) of this Article — any of the other joint grantees, transferees or lessees (not being a relevant individual who satisfies paragraph (5)(b) in relation to that estate or interest) is a Singapore citizen owning one property and another is a Singapore permanent resident not owning property; and

(ii)

in the case of sub‑paragraph (xiii) of paragraph (bh) of this Article — any of the other joint grantees, transferees or lessees (not being a relevant individual who satisfies paragraph (5)(b) in relation to that estate or interest) is a Singapore citizen owning 2 or more properties and another is a Singapore permanent resident not owning property.(7A) In paragraphs (5), (6), (7) and (7AA), “relevant individual” means —

(a)

in the case of paragraph (bc) of this Article, an individual who is —

(i)

a Singapore citizen owning one property;

(ii)

a Singapore citizen owning 2 properties; or

(iii)

a Singapore permanent resident owning one property,where the property or any of the properties (as the case may be) is the property mentioned in paragraph (5)(b); or

(b)

in the case of paragraph (bf) or (bh) of this Article, an individual who is a Singapore citizen owning one property, being the property mentioned in paragraph (5)(b).(8) In determining if a person beneficially owns (whether alone or jointly or in common with another) an estate or interest in any number of residential properties situated within Singapore, any ownership of property that is the subject of a notification under section 5 of the Land Acquisition Act 1966 is disregarded.Article 3ACONVEYANCE OF EQUITY INTERESTS IN PROPERTY‑HOLDING ENTITIES OR ENTITIES WITH OWNERSHIP INTERESTS IN PROPERTY‑HOLDING ENTITIESDescription of instrumentProper stamp duty1Conveyance of equity interests in a PHEDuty A or duty B or both (as applicable).Duty A is the sum total of the amounts in paragraphs (a)(i) or (ii) (as applicable), and (b), for a PHE that is a Type 1 PHE, the sum total of the amounts in paragraphs (c)(i) or (ii) (as applicable), and (d), for a PHE that is a Type 2 PHE, and the sum total of the amounts in paragraphs (c)(i) or (ii) (as applicable), and (d), for a PHE that is both a Type 1 PHE and a Type 2 PHE.Duty B is the amount in paragraph (e) for a PHE that is a Type 1 PHE, the amount in paragraph (f) for a PHE that is a Type 2 PHE, and the amount in paragraph (f) for a PHE that is both a Type 1 PHE and a Type 2 PHE.(a)Market value of the underlying property of the PHE under paragraph (a) of the definition of “underlying property” in section 23(21) —

(i)

where the conveyance is executed before 20 February 2018 —The sum of the following: for every dollar of the first $180,000 for every dollar of the next $180,000 for every dollar exceeding $360,000(ii)where the conveyance is executed on or after 20 February 2018 —The sum of the following: for every dollar of the first $180,000 for every dollar of the next $180,000 for every dollar of the next $640,000 for every dollar exceeding $1,000,000(b) (c)Market value of the underlying property of the PHE under paragraph (b) of the definition of “underlying property” in section 23(21) —

(i)

where the conveyance is executed before 20 February 2018 —The sum of the following: for every dollar of the first $180,000+ for every dollar of the next $180,000+ for every dollar exceeding $360,000+(ii)where the conveyance is executed on or after 20 February 2018 —The sum of the following: for every dollar of the first $180,000+ for every dollar of the next $180,000+ for every dollar of the next $640,000+ for every dollar exceeding $1,000,000+(d) +(e) (f) +Where —

(a)

U is —

(i)

if, as a result of the conveyance, the grantee becomes a significant owner of the PHE, and this is the first time the grantee becomes such significant owner since the effective date, the difference between —

(A)

the sum of the equity interests in the PHE beneficially owned by the grantee following the conveyance, and the equity interests in the PHE beneficially owned by each of the grantee’s associates, acquired on or after the effective date; and

(B)

the lowest amount, at any time in the period between the effective date and the time of execution of the conveyance, of the sum of —

(BA)the equity interests in the PHE beneficially owned by the grantee; and

(BB)the equity interests in the PHE beneficially owned by each of the grantee’s associates;

(ii)

if, as a result of the conveyance, the grantee becomes a significant owner of the PHE at any time other than that mentioned in sub‑paragraph (i), the difference between —

(A)

(B)

the lowest amount, at any time in the period between the date of the most recent conveyance by which the grantee ceased to be a significant owner and the time of execution of the conveyance, of the sum of —

(BA)the equity interests in the PHE beneficially owned by the grantee; and

(BB)the equity interests in the PHE beneficially owned by each of the grantee’s associates;

(iii)

if, after the conveyance, the grantee remains a significant owner of the PHE, the total number of all equity interests in the PHE conveyed under the conveyance to the grantee;

(b)

U1 is the amount of equity interests specified in section 23(8) that are comprised in the conveyance;

(c)

V is the total amount of all equity interests in the PHE;

(d)

W is the market value, at the time of execution of the conveyance, of the underlying property of the PHE under paragraph (a) of the definition of “underlying property” in section 23(21);

(e)

W1 is the market value, at the time of execution of the conveyance, of the underlying property of the PHE under paragraph (b)(i) of the definition of “underlying property” in section 23(21);

(f)

W2 is the market value, at the time of execution of the conveyance, of the underlying property of the PHE under paragraph (b)(ii) of the definition of “underlying property” in section 23(21);

(g)

X is the percentage of the equity interests in a Type 1 PHE that the PHE (being a Type 2 PHE) beneficially owns (including indirectly by applying section 23(18)); and

(h)

Z% is —

(i)

if the conveyance is executed before 6 July 2018, 15%;

(ii)

if the conveyance is executed between 6 July 2018 and 15 December 2021 (both dates inclusive), 30%; and

(iii)

if the conveyance is executed on or after 16 December 2021, 40%.Description of instrumentProper stamp duty2Conveyance of equity interests in an entity with ownership interests in a PHEDuty C or duty D or both (as applicable).Duty C is the sum total of the amounts in paragraphs (a)(i) or (ii) (as applicable), and (b), for a PHE that is a Type 1 PHE, the sum total of the amounts in paragraphs (c)(i) or (ii) (as applicable), and (d), for a PHE that is a Type 2 PHE, and the sum total of the amounts in paragraphs (c)(i) or (ii) (as applicable), and (d), for a PHE that is both a Type 1 PHE and a Type 2 PHE.Duty D is the amount in paragraph (e) for a PHE that is a Type 1 PHE, the amount in paragraph (f) for a Type 2 PHE, and the amount in paragraph (f) for a PHE that is both a Type 1 PHE and a Type 2 PHE.(a)Market value of the underlying property of the PHE under paragraph (a) of the definition of “underlying property” in section 23(21) —

(i)

(a)

U is —

(i)

if the equity interests in the entity (called the target entity) being conveyed, together with the equity interests in one or more other entities (each called a 2nd entity) beneficially owned by the grantee, would result in the grantee becoming a significant owner of the combined single entity, and this is the first time the grantee becomes such significant owner since the effective date, the difference between —

(A)

the sum of the equity interests in the target entity beneficially owned by the grantee following the conveyance, and the equity interests in the target entity beneficially owned by each of the grantee’s associates, that are acquired on or after the effective date; and

(B)

the lowest amount, at any time in the period between the effective date and the time of execution of the conveyance, of the sum of —

(BA)the equity interests in the target entity beneficially owned by the grantee; and

(BB)the equity interests in the target entity beneficially owned by each of the grantee’s associates;

(ii)

if the equity interests in the entity (called the target entity) being conveyed, together with the equity interests in one or more other entities (each called a 2nd entity) beneficially owned by the grantee, would result in the grantee becoming a significant owner of the combined single entity, and this is not the first time that the grantee becomes such significant owner since the effective date, the difference between —

(A)

(B)

(BA)the equity interests in the target entity beneficially owned by the grantee; and

(BB)the equity interests in the target entity beneficially owned by each of the grantee’s associates; or

(iii)

if the grantee is already a significant owner of the combined single entity at the time of execution of the conveyance, the amount of equity interests in the entity (called the target entity) conveyed under the conveyance;

(b)

P is —

(i)

in the case mentioned in paragraph (a)(i), the total of the sums calculated for each 2nd entity mentioned in that provision using the formula , where —

(A)

Q is the sum of the equity interests in the 2nd entity beneficially owned by the grantee, and the equity interests in the 2nd entity beneficially owned by each of the grantee’s associates, that were acquired between the effective date and the time of execution of the conveyance;

(B)

R is the total amount of all equity interests in the 2nd entity; and

(C)

S is the percentage of the equity interests in the PHE that the 2nd entity beneficially owns (including indirectly by applying section 23(18));

(ii)

in the case mentioned in paragraph (a)(ii), the total of the sums calculated for each 2nd entity mentioned in that provision using the formula , where —

(A)

Q1 is the difference between —

(AA)the sum of the equity interests in the 2nd entity beneficially owned by the grantee following the conveyance, and the equity interests in the 2nd entity beneficially owned by each of the grantee’s associates; and

(AB)the lowest amount of equity interests in the 2nd entity beneficially owned by the grantee in the period between the date of the most recent conveyance by which the grantee, and the equity interests in the 2nd entity beneficially owned by each of the grantee’s associates, ceased to be a significant owner and the time of execution of the conveyance; and

(B)

R and S have the same meanings as in sub‑paragraph (i); and

(iii)

in the case mentioned in paragraph (a)(iii), zero;

(c)

U1 is the amount of equity interests specified in section 23(8) that are comprised in the conveyance;

(d)

V is the total amount of all equity interests in the target entity;

(e)

W is the market value, at the time of execution of the conveyance, of the underlying property of the PHE under paragraph (a) of the definition of “underlying property” in section 23(21);

(f)

W1 is the market value, at the time of execution of the conveyance, of the underlying property of the PHE under paragraph (b)(i) of the definition of “underlying property” in section 23(21);

(g)

W2 is the market value, at the time of execution of the conveyance, of the underlying property of the PHE under paragraph (b)(ii) of the definition of “underlying property” in section 23(21);

(h)

X is the percentage of the equity interests in a Type 1 PHE that the PHE (being a Type 2 PHE) beneficially owns (including indirectly by applying section 23(18));

(i)

Y is the percentage of the equity interests in the PHE that the target entity beneficially owns (including indirectly by applying section 23(18)) at the time of the execution of the conveyance; and

(j)

Z% is —

(i)

if the conveyance is executed before 6 July 2018, 15%;

(ii)

if the conveyance is executed between 6 July 2018 and 15 December 2021 (both dates inclusive), 30%; and

(iii)

if the conveyance is executed on or after 16 December 2021, 40%.Note:In this Article, the market value of the underlying property of a PHE is the amount of the value of the part of the property that is attributable to a residential purpose, as defined in paragraphs (2A), (2B) and (2C) of Article 3.Article 4DECLARATION OF TRUSTDescription of instrument Proper stamp dutyDeclaration of any trust or concerning any immovable property, stock or shares by any writing, not being a will, or an instrument chargeable with duty as a conveyance on sale, gift or settlement $10Article 5[Deleted by Act 23 of 2011]Article 6ExchangeDescription of instrument Proper stamp dutyAny instrument by which immovable properties are exchanged or agreed to be exchanged The same duty as for a conveyance on sale for each of the immovable properties in the exchangeArticle 7GiftDescription of instrumentProper stamp dutyGiftThe same duty as for a conveyance on sale Article 8Lease or agreement for a leaseDescription of instrument Proper stamp dutyLease or agreement for a lease of any immovable property including any furniture, chattels, fittings or equipment and for securing the payment for the provision of services or facilities or to other matters or things in connection with such lease — When the Lease is for a period Not exceeding one yearExceeding one year but not exceeding 3 yearsExceeding 3 years or for any indefinite term(a)Without premium and executed on or after 1 April 2003 but before 22 February 2014, for every $250 or any part thereof of the average rent and other consideration calculated for a whole year $1$2$4 Not exceeding 4 yearsExceeding 4 years or for any indefinite term(aa)Without premium and executed on or after 22 February 2014 0.4% × A × 4where A is the average rent and other consideration calculated for a whole year(b)In consideration of a premium only The same duty as for a conveyance for a sum equal to the amount of such consideration(c)In consideration of a premium and reserving a rent or other consideration The same duty as for a conveyance on sale in consideration of the premium and a lease for the rent and other considerationExemptions: 1.Any lease or agreement for a lease mentioned in paragraph (a), (aa) or (c) executed on or after 1 April 2003 where the average rent and other consideration calculated for a whole year does not exceed $1,000. 2.Any lease or agreement for a lease executed on or after 19 February 2011 pursuant to a duly stamped agreement, or another duly stamped agreement, for the same. 3.Any lease or agreement for a lease mentioned in paragraph (a) or (aa) executed on or after 1 June 2012 in respect of the direct leasing of a flat from the Housing and Development Board under a scheme known as the “Public Rental Scheme”. Article 9Mortgage, Agreement for a mortgage and debentureDescription of instrument Proper stamp duty(a)Mortgage, agreement for a mortgage and debenture of immovable property and stock or shares, being a security (other than an equitable mortgage) for the payment or repayment of money —

(i)

if executed before 22 February 2014 $4 for every $1,000 or any part thereof, of the amount of the money, subject to a maximum of $500(ii)if executed on or after 22 February 2014 0.4% of the amount of the money, subject to a maximum of $500(b)Mortgage, agreement for a mortgage and debenture of immovable property and stock or shares, being an equitable mortgage for the payment or repayment of money —

(i)

if executed before 22 February 2014 $2 for every $1,000 or any part thereof, of the amount of the money, subject to a maximum of $500(ii)if executed on or after 22 February 2014 0.2% of the amount of the money, subject to a maximum of $500(c)Transfer, assignment or disposition of any mortgage or debenture —

(i)

if executed before 22 February 2014 —

(A)

for every $1,000 of the amount transferred, assigned or disposed, inclusive of interest which is in arrears; $2 subject to a maximum of $500(B)where any further money is added to the money already secured; $4 for every $1,000 or any part thereof, of the amount of such further money, subject to a maximum of $500(ii)if executed on or after 22 February 2014 —

(A)

for the amount transferred, assigned or disposed, inclusive of interest which is in arrears; 0.2% of the amount subject to a maximum of $500(B)where any further money is added to the money already secured 0.4% of the amount of such further money, subject to a maximum of $500Exemptions: 1.Any mortgage of stock or shares under hand only. 2.Any mortgage executed on or after 19 February 2011 pursuant to a duly stamped agreement for the same. 3.Any security executed on or after 19 February 2011 in conjunction with the security which is duly stamped under paragraph (a). Article 10[Deleted by Act 23 of 2011]Article 11SettlementDescription of instrument Proper stamp dutyInstrument of Settlement or Agreement for a Settlement of immovable property and stock or shares The same duty as for conveyance, assignment or transferExemption: Any settlement executed on or after 19 February 2011 pursuant to a duly stamped agreement for the same. Article 12Surrender of a leaseDescription of instrument Proper stamp dutySurrender of lease of immovable property for consideration The same duty as for a conveyance on sale for a consideration equal to the amount of such consideration[23/2011; 13/2017; 28/2019; S 474/2010; S 16/2011; S 644/2011; S 647/2011; S 117/2012; S 253/2012; S 12/2013; S 96/2014; S 84/2017; S 87/2018; S 452/2018; S 460/2018; S 943/2021]

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