Stamp duty can change the real cost of purchase significantly. Before booking any unit, buyers should understand whether BSD and ABSD apply to their situation.
Quick takeaways
- BSD is generally relevant for property purchases.
- ABSD depends on buyer profile and property count.
- Citizenship, PR status, entity purchase and existing ownership matter.
- Always verify the latest rates directly with IRAS or your conveyancing lawyer.
What is BSD?
Buyer’s Stamp Duty is a transaction cost that buyers should factor into their purchase budget. For new launches, it should be considered together with option fee, exercise payment, legal fees and progressive payments.
What is ABSD?
Additional Buyer’s Stamp Duty depends on the buyer profile, citizenship/residency status and whether the buyer already owns residential property. This is especially important for PR buyers, foreigners and buyers purchasing a second property.
Check ownership before you fall in love with a unit
- Are you buying as Singapore Citizen, PR, foreigner or entity?
- Do you or your spouse own existing property?
- Is the existing property local or overseas?
- Are you buying jointly with another person?
- Are there disposal or remission timelines to consider?
Do not guess stamp duty from old articles
Because stamp duty rules and rates can change, use articles only for understanding. Verify the actual amount with IRAS, your lawyer or a qualified adviser before signing.
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