Stamp duty rates on lease agreement revised wef 22/2/2014.
For documents executed on or after 22 Feb 2014:
- The stamp duty payable for leases with lease period of 4 years or less will be calculated based on the total contractual and other considerations or market rent, whichever is higher.
- For leases with lease period of more than 4 years, the stamp duty payable will be calculated based on 4 times the average annual rent (AAR).
- AAR refers to the higher of the average annual contractual or annualised market rent and includes other considerations such as payments for :
• Service charge
• Maintenance charge
• Advertising and Promotion charge
• Furniture / Fittings charge
• Any other charges, but exclude GST charge
i) Before 22 February 2014
| Lease Duty Rates | ||
| (a) Where average annual rent (AAR) does not exceed $1,000 | Exempted | |
| (b) Where AAR exceeds $1,000 : | ||
| Lease period up to 1 year | Every $250 or part thereof of the AAR | $1 |
| Lease period of more than 1 year and up to 3 years | $2 | |
| Lease period of more than 3 years or for any indefinite term | $4 | |
ii) On and After 22 February 2014
| Lease Duty Rates | |
| (a) Where average annual rent (AAR) does not exceed $1,000 | Exempted |
| (b) Where AAR exceeds $1,000 : | |
| Lease period of 4 years or less | 0.4% of total rent for the period of the lease |
| Lease period of more than 4 years or for any indefinite term | 0.4% of 4 times the AAR for the period of the lease |