Singapore legislation
Regulation 2
Regulation 2
Definitions
Subregulation 1
In these Rules —
Definition
“additional buyer’s stamp duty” or “ABSD” means the duty referred to in paragraph (bf), (bh) or (bi) of Article 3 of the First Schedule to the Act;
Definition
“housing developer”, “trustee” and “trustee for a housing developer” have the meanings given by paragraph (1) of Article 3 of the First Schedule to the Act;
Definition
“relevant individual” means a Singapore citizen owning 2 properties or a Singapore permanent resident owning one property and, in relation to an instrument executed on or after 27 April 2023, includes a Singapore permanent resident owning 2 properties;
Definition
“residential property” has the same meaning as in paragraph (b) of the definition of that term in paragraph (1) of Article 3 of the First Schedule to the Act;
Definition
“Singapore citizen not owning property”, “Singapore citizen owning one property”, “Singapore citizen owning 2 properties”, “Singapore citizen owning 2 or more properties”, “Singapore permanent resident not owning property”, “Singapore permanent resident owning one property”, “Singapore permanent resident owning 2 or more properties”, “Singapore permanent resident owning property”, “foreigner” and “entity” —
have the meanings given to those expressions in paragraph (1) read with paragraphs (2)(a), (aa) and (ab), (3) and (8) of Article 3 of the First Schedule to the Act; but (b)the reference to the instrument to be stamped in each of the definitions of those expressions, and the reference to the instrument in question in paragraph (2)(a) of Article 3 of the First Schedule to the Act, is substituted in each case with a reference to the instrument on which any amount of ABSD chargeable on the instrument is remitted under rule 3 or is so remitted but for the operation of rule 4;
Definition
“Singapore permanent resident owning 2 properties” means a permanent resident of Singapore who, if not for the transaction which is the subject of the instrument on which any amount of ABSD chargeable on the instrument is remitted under rule 3 or is so remitted but for the operation of rule 4, beneficially owns (whether alone or jointly or in common with another) an estate or interest in 2 residential properties situated within Singapore.
Subregulation 2
In these Rules, a reference to joint purchasers, grantees, transferees or lessees is a reference to persons to whom the estate or interest in the residential property in question is sold, conveyed, transferred or assigned as joint tenants or as tenants in common.
Subregulation 3
In these Rules, in the case of an instrument executed before 9 May 2022, and 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 purchaser, grantee, transferee or lessee, in a case where he 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 purchaser, grantee, transferee or lessee himself), all the beneficial owners shall be treated as joint purchasers, grantees, transferees or lessees.