Singapore legislation

Regulation 3

of Stamp Duties (Transfer of Interest in Property which Buyer has Interest) (Remission of ABSD) Rules 2013

Regulation 3

Remission of ABSD

Amended byS 245/2023 wef 27/04/2023S 245/2023 wef 27/04/2023S 245/2023 wef 27/04/2023S 245/2023 wef 27/04/2023S 245/2023 wef 27/04/2023S 245/2023 wef 27/04/2023S 245/2023 wef 27/04/2023S 245/2023 wef 27/04/2023S 245/2023 wef 27/04/2023S 245/2023 wef 27/04/2023S 245/2023 wef 27/04/2023S 945/2021 wef 16/12/2021

Subregulation 1

Subject to rule 4, there shall be remitted the prescribed amount of ABSD that is chargeable on —

(a)

a contract or agreement for the sale of, or a conveyance, assignment or transfer on sale of, an estate or interest in a single residential property; and

(b)

any instrument chargeable in like manner,if —

(i)

the purchaser, grantee, transferee or lessee or any of 2 or more joint purchasers, grantees, transferees or lessees under the instrument is a relevant individual;

(ii)

at the time of execution of the instrument, the relevant individual beneficially owns jointly or in common with one or more other persons any estate or interest in any residential property other than by virtue of the transaction which is the subject of the instrument; and

(iii)

that other or any of those other persons sells, conveys, transfers or assigns his estate or interest (or any part thereof) in that property under the instrument to the purchaser, grantee, transferee or lessee or the joint purchasers, grantees, transferees or lessees.

Subregulation 2

In paragraph (1), the prescribed amount of ABSD chargeable on an instrument is —

(a)

in a case where the relevant individual is a Singapore citizen owning 2 properties or, where there is more than one relevant individual, any one or more of them is or are a Singapore citizen owning 2 properties or Singapore citizens owning 2 properties, and none of them is a Singapore permanent resident owning 2 properties —

(i)

if the instrument is executed before 16 December 2021 or the Stamp Duties (Instruments on or before 15 December 2021) (Remission) Rules 2021 (G.N. No. S 944/2021) apply to the instrument — 3% of the amount or value of the consideration of the estate or interest (or the part of the estate or interest) mentioned in paragraph (1)(iii); (ii)if the instrument is executed between 16 December 2021 and 26 April 2023 (both dates inclusive) and the Stamp Duties (Instruments on or before 15 December 2021) (Remission) Rules 2021 do not apply to the instrument — 8% of the amount or value of the consideration of the estate or interest (or the part of the estate or interest) mentioned in paragraph (1)(iii); (iii)if the instrument is executed on or after 27 April 2023 and the Stamp Duties (Instruments on or before 26 April 2023) (Remission) Rules 2023 (G.N. No. S 244/2023) apply to the instrument — 8% of the amount or value of the consideration of the estate or interest (or the part of the estate or interest) mentioned in paragraph (1)(iii); or

(iv)

if the instrument is executed on or after 27 April 2023 and the Stamp Duties (Instruments on or before 26 April 2023) (Remission) Rules 2023 do not apply to the instrument — 10% of the amount or value of the consideration of the estate or interest (or the part of the estate or interest) mentioned in paragraph (1)(iii);

(b)

in a case where the relevant individual is a Singapore permanent resident owning one property or, where there is more than one relevant individual, all of them are Singapore permanent residents owning one property —

(i)

if the instrument is executed before 6 July 2018 or the Stamp Duties (Instruments on or before 5 July 2018) (Remission) Rules 2018 (G.N. No. S 453/2018) apply to the instrument — 5% of the amount or value of the consideration of the estate or interest (or the part of the estate or interest) mentioned in paragraph (1)(iii);

(ii)

if the instrument is executed between 6 July 2018 and 15 December 2021 (both dates inclusive) and the Stamp Duties (Instruments on or before 5 July 2018) (Remission) Rules 2018 do not apply to the instrument —10% of the amount or value of the consideration of the estate or interest (or the part of the estate or interest) mentioned in paragraph (1)(iii); (iii)if the instrument is executed between 16 December 2021 and 26 April 2023 (both dates inclusive) and the Stamp Duties (Instruments on or before 15 December 2021) (Remission) Rules 2021 apply to the instrument — 10% of the amount or value of the consideration of the estate or interest (or the part of the estate or interest) mentioned in paragraph (1)(iii); (iv)if the instrument is executed between 16 December 2021 and 26 April 2023 (both dates inclusive) and the Stamp Duties (Instruments on or before 15 December 2021) (Remission) Rules 2021 do not apply to the instrument — 20% of the amount or value of the consideration of the estate or interest (or the part of the estate or interest) mentioned in paragraph (1)(iii);

(v)

if the instrument is executed on or after 27 April 2023 and the Stamp Duties (Instruments on or before 26 April 2023) (Remission) Rules 2023 apply to the instrument — 20% of the amount or value of the consideration of the estate or interest (or the part of the estate or interest) mentioned in paragraph (1)(iii); or

(vi)

if the instrument is executed on or after 27 April 2023 and the Stamp Duties (Instruments on or before 26 April 2023) (Remission) Rules 2023 do not apply to the instrument — 25% of the amount or value of the consideration of the estate or interest (or the part of the estate or interest) mentioned in paragraph (1)(iii); and

(c)

in any other case, 5% of the amount or value of the consideration of the estate or interest (or the part of the estate or interest) mentioned in paragraph (1)(iii).

Read in full context — Stamp Duties (Transfer of Interest in Property which Buyer has Interest) (Remission of ABSD) Rules 2013 →