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