Stamp Duties Act 1929 · 2021 Revised Edition · Part 3 · Provisions Applicable to Particular Instruments
19. Valuation in case of annuity
Feedback & supportWhere the consideration, or any part of the consideration, for a conveyance on sale consists of money payable periodically for a definite period not exceeding 20 years, so that the total amount to be paid can be previously ascertained, the conveyance is chargeable in respect of that consideration with ad valorem duty on the total amount.
conveyance on sale
“conveyance on sale” includes every instrument and every decree or order of any court, by which any property, or any estate or interest in any property, upon the sale thereof is transferred to or vested in a purchaser or any other person on the purchaser’s behalf or by the purchaser’s direction;
Where the consideration, or any part of the consideration, for a conveyance on sale consists of money payable periodically —
money
“money” includes all sums whether expressed in the currency of Singapore or in any other currency;
for a definite period exceeding 20 years or in perpetuity; or
for any indefinite period not terminable with life,the conveyance is chargeable in respect of that consideration with ad valorem duty on the total amount which will or may, according to the terms of sale, be payable during the period of 20 years next after the day of the date of the instrument.
Where the consideration, or any part of the consideration, for a conveyance on sale consists of money payable periodically during any life or lives, the conveyance is chargeable in respect of that consideration with ad valorem duty on the amount which will or may, according to the terms of sale, be payable during the period of 12 years next after the day of the date of the instrument.
duty
“duty” means any stamp duty for the time being chargeable under this Act or any other Act;