Singapore legislation
Regulation 5
of Stamp Duties (Conveyance Directions) (Remission) Rules 2015
Regulation 5
Remission of duty on conveyance direction in favour of relatives
Subregulation 1
Where —
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).
Subregulation 2
In the case of paragraph (1)(b)(i), the amount of ABSD remitted under this rule cannot be more than the amount derived by the following formula:where Xis the amount of any unremitted ABSD chargeable on the contract to which the conveyance direction relates, and paid;Yis the amount of unremitted ABSD that (but for the operation of this rule) would have been chargeable on the conveyance direction; andZis the amount of unremitted ABSD that would have been chargeable on the contract if all the ultimate purchasers named in the conveyance direction were purchasers under the contract.
Subregulation 3
If the amount derived by the formula under paragraph (2) is zero or negative, then there is to be no remission under this rule of any ABSD chargeable on the conveyance direction in the case of paragraph (1)(b)(i).
Subregulation 4
In paragraph (1)(c), a person is related to another if he or she is the spouse, a parent, a child, or a sibling of the other.
Subregulation 5
In paragraph (4), “child”, in relation to a person, means a legitimate child or stepchild of the person or a child adopted by the person in accordance with any written law relating to adoption.