Vincent Ong 6598531741

Hike in Buyer’s Stamp Duty Feb 2018

Higher Buyer’s Stamp Duty (BSD) rate for residential properties beyond S$1.0 million

  • With effect from 20 February 2018, all buyers of residential properties of beyond S$1.0 million are subjected to higher buyer’s stamp duty (BSD).
  • Under the new BSD rate structure, buyers will need to pay 1% on the first S$180,000, 2% on the next S$180,000, 3% on the next S$640,000 and 4% on the proportion of the purchase price or market value of the residential property in excess of S$1.0 million (Exhibit 1).
  • The BSD rate structure prior to 20 February 2018 will still apply if the Option to Purchase has been granted on or before 19 February 2018, and is exercised on or before 12 March 2018 or upon the expiry of the Option to Purchase whichever is the earlier.
  • There is no change in the BSD rates for non-residential properties.

Feb 2018 Revised Buyer's Stamp Duty, call 6598531741

Read Full Article at https://www.iras.gov.sg/irashome/News-and-Events/Singapore-Budget/Budget-2018—Overview-of-Tax-Changes/

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