Stamp Duties (Conveyance Directions) (Remission) Rules 2015

a reference to the amount of unremitted ABSD chargeable on an instrument is a reference to the amount of ABSD that remains chargeable on that instrument after the application of any Rules made under section 74 of the Act besides these Rules; and

a reference to the amount of unremitted ABSD that would have been chargeable on an instrument in specified circumstances is a reference to the amount of ABSD that would have been chargeable on that instrument in those circumstances after deducting any amount that would have been remitted in those circumstances under any Rules made under section 74 of the Act besides these Rules.

a person (called in this rule the vendor) enters into a contract or agreement (called in this rule the contract) to transfer any immovable property to another person (called in this rule the initial purchaser);

the initial purchaser, before having obtained a conveyance of the immovable property, by direction in writing (called in this rule the conveyance direction), directs the vendor to convey or transfer that immovable property to a company which is or is to be incorporated by the initial purchaser (called in this rule the ultimate purchaser); and

the Commissioner is satisfied that —

the initial purchaser entered into the contract with the intention that the property be transferred to the ultimate purchaser;

no consideration is paid or agreed to be paid between the initial purchaser and the ultimate purchaser with regard to that property;

duty had been duly paid upon the contract;

the conveyance direction is made not more than 2 months after the date of the contract; and

the initial purchaser has and retains a controlling interest in the ultimate purchaser for the entire duration of the relevant period reckoned in accordance with paragraph (5),there is to be remitted any unremitted duty chargeable on the conveyance direction under sections 22(4) and 22A of the Act, up to the limits specified in paragraphs (2) and (3).

rule 3 of the Stamp Duties (Housing Developers) (Remission of ABSD) Rules 2013 (G.N. No. S 362/2013); and

rule 3 of the Stamp Duties (Non-Licensed Housing Developers) (Remission of ABSD) Rules 2015 (G.N. No. S 764/2015).

if, on the date of the contract, there is a development on the immovable property that has yet to be completed, or there is to be a development by the ultimate purchaser on the immovable property that has yet to commence, the relevant period starts on the material date and ends on —

the date of issue of the Temporary Occupation Permit for the building that is the subject of the development; or (ii)if more than one Temporary Occupation Permit is to be issued for the building or buildings that is or are the subject of the development, or the parts of the building or buildings, the date of issue of the last of those Temporary Occupation Permits;

in any other case, the relevant period starts on the material date and ends on the date of the transfer of the immovable property to the ultimate purchaser because of that conveyance direction.ExampleOwners of residential properties enter into an agreement for a common sale of their properties to A. A, before having obtained a conveyance of those properties, by direction in writing directs those owners to convey those properties to a company B. B is incorporated by A for the purpose of a housing development by B on the land occupied by those properties, the details of which (including the development’s commencement date) have not been determined as of the date of the agreement. The relevant period for the purposes of rule 4(1)(c)(v) is that specified in rule 4(5)(a).

a person (called in this rule the vendor) enters into a contract or agreement (called in this rule the contract) to transfer any immovable property to another person (called in this rule the initial purchaser);

the initial purchaser, before having obtained a conveyance of the immovable property, by direction in writing (called in this rule the conveyance direction), directs the vendor —

to convey or transfer that immovable property or any part of or share in that property to any person who is not a party to that contract (called in this rule the ultimate purchaser); or

to convey or transfer the property to the initial purchaser (being more than one person) in shares other than as specified in the contract;

either —

in the case of sub-paragraph (b)(i), the initial purchaser or, if the initial purchaser comprises more than one person, the initial purchasers (excluding one whose share in the property as specified in the contract, and in the conveyance direction, is the same), is or are related to the ultimate purchaser; or

in the case of sub-paragraph (b)(ii), the initial purchasers (excluding one whose share in the property as specified in the contract, and in the conveyance direction, is the same) are related to each other; and

the Commissioner is satisfied that —

no consideration with regard to that property is paid or agreed to be paid —

in the case of sub-paragraph (b)(i), between the initial purchaser and the ultimate purchaser; or (B)in the case of sub-paragraph (b)(ii), between the initial purchasers;

duty had been duly paid upon the contract;

in the case of sub-paragraph (b)(i), either —

the initial purchaser; or

if the initial purchaser comprises more than one person, at least one of them,is also named in the conveyance direction as an ultimate purchaser; and

the conveyance direction is made not more than 2 months after the date of the contract,there is to be remitted any unremitted duty chargeable on the conveyance direction under sections 22(4) and 22A of the Act, up to the limits specified in paragraphs (2) and (3).