Additional Buyer Stamp Duty - Who needs to pay ABSD? LINUS?
In Singapore, all buyers of Residential and Non-Residential property are required to pay BSD, Buyer's Stamp Duty.
BSD is required for purchase of all residential properties:
- For properties below $1,000,000, BSD = (3% X Purchase price or Market Value) - $5,400
- For properties above $1,000,000, BSD = (4% X Purchase price or Market Value) - $15,400
However, there is a second tax, called the ABSD, Additional Buyer's Stamp Duty, which is dependent on the buyer(s)' residency status and the number of properties owned.
ABSD for Singapore Citizens (SC)
- 1st Residential Property, ABSD = 0%
- 2nd Residential Property, ABSD = 17%
- 3rd and more Residential Property, ABSD = 25%
ABSD for Permanent Residents (SPR)
- 1st Residential Property, ABSD = 5%
- 2nd Residential Property, ABSD = 25%
- 3rd and more Residential Property, ABSD = 30%
ABSD for Foreigners (FR)
- 1st and more Residential Property, ABSD = 30%
ABSD for Entities
- 1st and more Residential Property, ABSD = 35%
There is one exception to these, which is due to the respective FTAs, where these individuals from this group, LINUS will be accorded the same Stamp Duty Treatment as Singapore Citizens.
LINUS:
- Liechtenstein (Nationals and Permanent Residents)
- Iceland (Nationals and Permanent Residents)
- Norway (Nationals and Permanent Residents)
- United States of America (Nationals only)
- Switzerland (Nationals and Permanent Residents)
To find out more about financial calculations and how much BSD and ABSD you are liable to pay for your purchase, feel free to contact me.
I will be most glad to assist you in your property dreams.
Thank you in advance for your time!
Cheers!
Eugene Cheng
ERA Marketing Director
HP: 92281680
Email: chengsproperty@gmail.com
CEA No: R063301E
