Buyer Stamp Duty
Buying a residential property is a major investment and there are many factors to consider during the purchase of a property. One factor is the Buyer’s Stamp Duty (BSD) and the Additional Buyer’s Stamp Duty (ABSD), which are taxes levied on purchases of property in Singapore.
Buyer’s Stamp Duty (BSD)
Purchase Price or Market Value of the Property | BSD Rates for Residential Properties | BSD Rates for Non-Residential Properties |
| First $180,000 | 1% | 1% |
| Next $180,000 | 2% | 2% |
| Next $640,000 | 3% | 3% |
| Next $500,000 | 4% | 4% |
| Next $1,500,000 | 5% | 5% |
| Amount exceeding $3,000,000 | 6% | 5% |
New BSD rates with effect from 15 Feb 2023.
Additional Buyer’s Stamp Duty (BSD)
Nationality | 1st Property | 2nd Property | 3rd Property |
| Singapore Citizens | N.A. | 20% | 30% |
| Permanent Residents | 5% | 30% | 35% |
| Foreigners | 60% | 60% | 60% |
| Entities / Companies | 65% | 65% | 65% |
New BSD rates with effect from 27 Apr 2023.
From 9 May 2022 onwards, any transfer of residential property into a living trust will be subject to an ABSD rate that is the same as entities.
Profile of Buyer | ABSD Rates on or after 27 Apr 2023 |
| Trustee buying any residential property | 65% |
Foreigners Eligible for ABSD Remission under Free Trade Agreements (FTAs)
Conditions for Remission
Under the respective FTAs, Nationals or Permanent Residents of the following countries will be accorded the same Stamp Duty treatment as Singapore Citizens:
1. Nationals and Permanent Residents of Iceland, Liechtenstein, Norway or Switzerland
2. Nationals of the United States of America
References:
1. Buyer's Stamp Duty (BSD) https://www.iras.gov.sg/taxes/stamp-duty/for-property/buying-or-acquiring-property/buyer's-stamp-duty-(bsd)
2. Additional Buyer's Stamp Duty (ABSD) https://www.iras.gov.sg/taxes/stamp-duty/for-property/buying-or-acquiring-property/additional-buyer's-stamp-duty-(absd)
3. Foreigners Eligible for ABSD Remission under Free Trade Agreements (FTAs) https://www.iras.gov.sg/taxes/stamp-duty/for-property/appeals-refunds-reliefs-and-remissions/common-stamp-duty-remissions-and-reliefs-for-property/foreigners-eligible-for-absd-remission-under-free-trade-agreements-(ftas)
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SENIOR MARKETING DIRECTOR
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