Stamp duty is payable for purchase of property. Effective 20 February 2018, the basic stamp duty payable has been adjusted to:
Additional Buyer Stamp Duty (ABSD) may be payable by the purchaser of property. The quantum of ABSD payable depends on the profile of the beneficial owner. The rates and computation of ABSD is as follows:
In the past, purchase of shares of companies is not subject to stamp duty but rather it is only subject to shares duty. Shares duty is levied based on 0.2% of the value of the shares. Effective 11 March 2017, Additional Conveyance Duties (ACD) is applicable on qualifying acquisition of equity interest in property-holding entities whose primary tangible assets are Singapore residential properties. Each qualifying acquisition on or after 11 March 2017 is subject to the additional conveyance duties for buyer (ACDB).
Effective 20 February 2018, the ACDB rate ranges from 16% to 19%.
I hope this information allows you to better advise your clients about their real estate and financial planning needs.
Sincerely yours,
Stephen
