Singapore legislation
Regulation 5
Regulation 5
Surcharge to be reduced where property is owned by two or more persons
Subregulation 1
Where a property is —
owned by two or more persons of whom at least one is either a citizen of Singapore or a permanent resident; or
vested in trustees or legal personal representatives and is held for the benefit of two or more persons of whom at least one is either a citizen of Singapore or a permanent resident,the surcharge payable in respect of the property shall be reduced by such proportion as the number of shares in the property owned or held on behalf of citizens of Singapore and permanent residents bears to the total number of shares in the property.
Subregulation 2
For the purpose of this rule, the share of a property which is vested in or held on behalf of a citizen of Singapore or a permanent resident shall be ascertained on the basis that all the owners of the property (whether legal or beneficial) own the property in equal shares unless the owners concerned can satisfy the Comptroller of the actual proportion of the shares owned by them or on their behalf.