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Forett at Bukit Timah

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LAUNCHED August 2020
TOP Est Sep 2024
Updated as at 
31 October 2020

Project Name Financing Information: Stamp Duty

Buyer's Stamp Duty (BSD)

Buyer’s Stamp Duty is tax paid on documents signed when you buy or acquire property located in Singapore, levied by the Inland Revenue Authority of Singapore (IRAS).

You are required to pay BSD for documents executed for the sale and purchase of property located in Singapore. BSD will be computed on the purchase price as stated in the document to be stamped or market value of the property (whichever is the higher amount).
Purchase Price or Market Value of the PropertyBSD Rates for Residential PropertiesBSD Rates for Non-Residential Properties
First $180,0001%1%
Next $180,0002%2%
Next $640,0003%3%
Remaining Amount4%3%

Additional Buyer's Stamp Duty (ABSD)

Liable buyers are required to pay ABSD on top of the existing Buyer’s Stamp Duty (BSD). ABSD and BSD are computed on the purchase price as stated in the dutiable document or the market value of the property (whichever is the higher amount).

More details about the ABSD can be found on the IRAS website and ABSD Fact Sheet.
Nationality1st Property2nd Property3rd Property
Singapore CitizensN.A.12%15%
Permanent Residents5%15%15%
Foreigners20%20%20%
Entities/Companies25%25%25%

Foreigners Eligible for ABSD Remission under Free Trade Agreements (FTAs) 

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

Refer to the IRAS website here for more details

Remission of ABSD for a Married Couple

A married couple may be eligible for ABSD remission on the purchase of a residential property if the remission conditions are met.

A. Joint Purchase by a Married Couple who does not own any Residential Property
Full ABSD remission may be applicable to a married couple who purchase a residential property jointly. The couple must include a Singapore Citizen (SC) spouse and the property must be purchased under both names of the couple only. In addition, both the spouses must not own any residential property. Scenarios with full remission are denoted with “#” in Table 2 and Table 3 of ABSD Rates and Remissions for Married Couples (PDF, 178KB)

Both BSD and ABSD are payable upon stamping. However, if you meet eligibility conditions, you can apply for this ABSD remission instead of making ABSD payment.

How to Apply
Your legal representative can e-Stamp via the e-Stamping Portal to obtain the remission certificate.
B. Joint Purchase of Second Residential Property by a Married Couple
ABSD remission may be applicable to a married couple who purchases a second residential property jointly, if the remission conditions are met. The couple must include a Singapore Citizen and the property must be purchased under both names of the couple only. The conditions are as follows:
  1. The married couple did not own interest in more than one residential property at the date of purchase of the second residential property.
  2. ABSD has been paid on the second residential property.
  3. The first residential property (co-owned or separately owned) is sold within 6 months after
    • the date of purchase1 of the second property for completed property or
    • the issue date of the Temporary Occupation Permit (TOP) / Certificate of Statutory Completion (CSC), whichever is earlier, if the property was uncompleted at the time of purchase
  4. The married couple remains married and there is no change of ownership in the second residential property at the time of sale of the first residential property.
  5. The married couple has not purchased or acquired any other residential property since the purchase of the second residential property.
  6. The application for refund of ABSD is made within 6 months after the date of sale2 of the first residential property. 

For the eligibility criteria, please see the last column of Table 1, Table 2 and Table 3 of ABSD Rates and Remission for Married Couples (PDF, 178KB)

How to Apply
You can apply for the remission via the e-Stamping Portal > “Request” > “Apply for Refund”. You will have to login with your SingPass or Registered Account.

1 Date of Purchase / Acquisition refers to:
a) Date of Acceptance of the Option to Purchase or
b) Date of Sale and Purchase Agreement or
c) Date of Transfer where (a) and (b) are not available nor applicable

2 Date of Sale / Disposal refers to:
a) Date of Acceptance of the Option to Purchase by the buyer or
b) Date of Sale and Purchase Agreement signed by the buyer or
c) Date of Transfer where (a) and (b) are not available nor applicable

 

For more details, please refer to the IRAS website at this link.

Forett at Bukit Timah Official Launch
Saturday, 31 October 2020
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