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Will i be affected by the Additional Buyer’s Stamp Duty?

Posted by admin on January 11, 2023

What is the Additional Buyer's Stamp Duty ?

Additional Buyer’s Stamp Duty also commonly known as ABSD is a tax that is dependent on the profile of the buyers at the time of purchase. This tax is payable to IRAS on top of the compulsory Buyer Stamp Duty.

To qualify for a lower ABSD, the buyers must be a Singapore citizen or a Singapore Permanent Resident status by the Immigration and checkpoint authority of Singapore at the time of purchase of property. The date stated on the identitiy card collection slip is taken to be the date the status is approved. 

The different ways how IRAS count the properties owned by a buyer

When a buyer has signed the contract for purchase in a resale or a uncompleted project by the developer, the property is immediately included in his property count from the date of acceptance of the agreement.

In case you are wondering how would your additional buyer stamp duty be like if you already own a property and additionally intend to co purchase another property with a friend. That co purchase woud consider you to be having 2 properties to your name even though you co own 20% share of that property.

That overseas property that you owned is not included in the property count liable for ABSD.

Table for ABSD

Buyer’s Profile Latest ABSD rates on or after 16 Dec 2016
Singapore Citizen buying 1st property Not Applicable
SC buying 2nd property 17%
SC buying 3rd property or more 25%
Singapore Permanent Resident (SPR) Buying 1st Property 5%
SPR buying 2nd property 25%
SPR buying 3rd property or more 30%
Foreigner Buying Any Property 30%
Entities Buying Any Property 35%
Buyer’s Profile Latest ABSD rates on or after 9 May 2022
Trustee Buying Any Property 35%

Property held on Trust

It is very common to purchase a property in trust. However in this case if you buy a property in trust for your son, then your son would have one property in his name.

Acquired properties

Besides owning properties by way of purchase, it is also common to receive properties by way of gift and inheritance, release, settlement and declaration of trust. These too will be counted as your property count.

HDB shophouse with living quarter

In a shophouse commercial property that has a portion approved for residential, that portion will counted as one count.

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