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Stamp Duty (Purchase, Lease and Mortgage)

Property Sales and Purchase | Property Lease | Mortgage

For Property Sales and Purchase

1. What is Stamp Duty?

2. If you have purchased a HDB Flat

3. If you have purchased a completed property issued with Temporary Occupation Permit (TOP) or land

4. If you have purchased a property under construction

5. If you have purchased a property by way of a sub-sale

6. If you have acquired properties through an enbloc purchase or ‘block’ purchase

7. If you have purchased a property and leased the property to the seller (i.e. sale and lease-back)

8. If you have sold an existing property / land and bought back units developed by the purchaser (i.e. sale and buy-back)

9.What are the stamp duty rates?

10. Stamp Duty Computation

11. Who has to pay stamp duty?

For Lease

12. What are the stamp duty rates?

13. Duty on Duplicate

14. Stamp Duty Computation

15. Up stamping of an existing lease

16. Who has to pay stamp duty?

For Mortgage

17. Mortgage Stamp Duty

18. Who is liable to pay stamp duty


1. What is Stamp Duty?

You are required to pay stamp duty for documents executed for a sale and purchase of property. Stamp duty will be computed on the purchase price or market value of the property (whichever is the higher amount).

The first instrument executed relating to a sale and purchase is liable to ad valorem duty (i.e. full duty). Subsequent document(s), relating to the same sale transaction, is liable to nominal duty.

Return to <TOP>

2. If you have purchased a HDB Flat

You are required to pay stamp duty if you have executed document(s) for a sale and purchase of a HDB flat. Stamp duty will be computed on the purchase price or market value of the property, whichever is the higher amount.

Document(s), executed for a sale and purchase of a HDB flat, have to be stamped within14 days from the date of execution of document in Singapore.

If you have purchased a resale HDB flat, the Acceptance to the Option to Purchase has to be stamped within14 days from the date of HDB's in-principle approval.

Return to <TOP>

3. If you have purchased a completed property issued with Temporary Occupation Permit (TOP) or land

You are required to pay stamp duty on the Acceptance Letter to the Option to Purchase or Sale and Purchase Agreement that you have executed (signed). Stamp duty will be computed on the purchase price or market value of the property, whichever is the higher amount.

All documents have to be stamped within 14 days after the date of execution in Singapore.
Exception

For documents executed for a purchase of property between 30 Jun 1998 to 14 Dec 2006, the stamp duty payable on the Acceptance Letter to the Option to Purchase / Sale and Purchase Agreement may be deferred within 14 days after the date of transfer of the property, or within 14 days after the purchaser contracts to sell his interest in the property, whichever comes earlier.

Return to <TOP>

4. If you have purchased a property under construction

Properties under construction are referred to properties, which have not been issued with the Temporary Occupation Permit (TOP) or Certificate of Statutory Completion (CSC).

You are required to pay stamp duty on the Acceptance Letter to the Option to Purchase or Sale and Purchase Agreement that you have executed (signed) for a purchase of a property under construction. All documents have to be stamped within 14 days after the date of execution of the agreement.

Exception

For purchase of property (execution of document) between 30 Jun 1998 till 14 Dec 2006, stamp duty payable on the Acceptance Letter to the Option to Purchase / Sale and Purchase Agreement may be deferred within 14 days after the date the TOP is issued, or within 14 days after the purchaser contracts to sell his interest in the property, whichever comes earlier.

Return to <TOP>

5. If you have purchased a property by way of a sub-sale

If you have purchased a property from the original purchaser (i.e. not the developer), you are required to pay stamp duty on the Acceptance Letter to the Option to Purchase or Sale and Purchase Agreement that you have executed (signed).

You are required to stamp the Acceptance Letter to the Option to Purchase or Sale or Purchase Agreement within 14 days after the date of execution.

Example

You have purchased a property from the developer and subsequently sub-sold the property to another purchaser. In this case, stamp duty is imposed on document(s) executed between the developer and yourself and document(s) executed between yourself and the sub-purchaser.

Even though the sale is for the same property, the parties to the contract and purchase price are different and they are considered as two separate sale transactions. Hence, stamp duty is imposed on each sale transaction.

Exception

For documents executed before 15 Dec 2006, you are required to pay stamp duty at the time when TOP is issued or sub-sale date, whichever comes first.

Return to <TOP>

6. If you have acquired properties through an enbloc purchase or ‘block’ purchase

An enbloc purchase or ‘block’ purchase is regarded as a single sale transaction, notwithstanding that multiple documents may have been executed. Stamp duty is therefore computed on the collective sale price or block purchase price (i.e. total consideration).

If multiple documents are entered into amongst the individual owners and purchaser, one document has to be stamped, at ad valorem duty, based on the total consideration. The remaining documents are to be stamped at a nominal duty of $10 each.

You are required to the stamp all documents within 14 days after the date of execution.

For more information, please refer to our e-Tax guide on the Stamp Duty Treatment For Properties Acquired on an En Bloc or "Block" basis .

Example

If there are 53 documents executed for an enbloc sale and purchase, one document has to be stamped based on the total consideration.

The remaining 52 documents are to be stamped at a nominal duty of $10 each.

Return to <TOP>

7. If you have purchased a property and leased the property to the seller (i.e. sale and lease-back)

If you have purchased a property and leased the property back to the seller, two sets of stamp duty will be charged.

According to Section 6 of the Stamp Duties Act (Cap 312), an instrument relating to several matters is required to be stamped individually. In this instance, one set of lease duty and another set of conveyance duty will be charged.

Return to <TOP>

8. If you have sold an existing property / land and bought back units developed by the purchaser (i.e. sale and buy-back)

If you have sold an existing property / land and bought back units developed by the purchaser, two sets of stamp duty will be charged.

According to Section 6 to the Stamp Duties Act (Cap 312), an instrument relating to several matters is required to be separately stamped for each matter. In this instance, two sets of conveyance duty will be charged.

Return to <TOP>

9.What are the stamp duty rates?

Stamp Duty Based on the Purchase Price or Market Value, whichever is higher

 

Every $100 or part thereof of the first $180,000 $1
Every $100 or part thereof of the next $180,000 $2
Every $100 or part thereof of the remainder $3

Return to <TOP>

10. Stamp Duty Computation

An example of the computation of stamp duty is as follows :

 

If the Purchase Price is $1,200,110, (round up to nearest hundred = $1,200,200)

Every $100 or part thereof of the first $180,000  ($180,000 / $100) x $1 $1,800
Every $100 or part thereof of the next $180,000  ($180,000 / $100) x $2 $3,600
Every $100 or part thereof of the remainder 

($840,200 / $100) x $3

$25,206
Stamp duty payable  $30,606

Return to <TOP>

11. Who has to pay stamp duty?

The persons liable to pay stamp duty will be in accordance to the terms of the document.

If the terms of the document are silent on this, under the Stamp Duties Act (Cap 312), the transferee has to pay stamp duty and the transferor has to pay the duty on duplicate.

Return to <TOP>

12. What are the stamp duty rates?

Stamp duty for leases, involving a fixed rental throughout the rental period, will be computed based on the gross rent. Thereafter, the appropriate rates of duty will be applied depending on the term of the tenancy stated in the document.

Gross rent will include the following :

  • Base Rent per month
  • Service Charge per month, if any
  • Maintenance Charges per month, if any
  • Advertising and Promotion Charges per month, if any
  • Furniture / Fittings Charges per month, if any
  • Other Charges per month, if any

Stamp duty on leases is computed on all charges (except GST) paid by tenant to landlord.

The stamp duty rates are as follows :

Where the lease term is for a period
Where the annual rent exceeds $1000 Up to 1 year

More than 1 year and up to 3 years

More than 3 years or for an indefinite term

For every $250/- or part thereof of the average annual rent $1 $2 $4

Return to <TOP>

13. Duty on Duplicate

Duty on duplicate is $2. This additional amount will be added to the stamp duty payable.

Return to <TOP>

14. Stamp Duty Computation

An example on the computation of stamp duty for leases involving fixed rental is as follows: -

If the base rent is $ 1,800 per month, the rent for furniture & fittings is $ 500 per month, other charges are $140 per month, what is the stamp duty?

Base Rent $1,800 per month
Furniture & Fittings $500 per month
Others $140 per month
Total Gross Rent  $2,440 per month 
1. To compute the average annual gross rent = $2,440 x 12 months = $29,280
2. To determine how many parts of $250 in the annual rent = $29,280 / 250 = 117.12 (round up to 118)
3.

Stamp duty payable is :

If the lease term is up to 1 year,

  Stamp Duty Payable  = 118 x $1 = $118

If the lease term is more than 1 year and up to 3 years,

  Stamp Duty Payable = 118 x  $2 = $236

If lease term is more than 3 years or for an indefinite term,

  Stamp Duty Payable = 118 x $4 = $472      

Return to <TOP>

15. Up stamping of an existing lease

You can up stamp a lease document if the rental contracted under a previously stamped lease has increased. The lease term and parties involved in the tenancy must remain the same.  Stamp duty must have been paid on the previous stamped lease document before up stamping can be done. Additional stamp duty will be computed on the increase in rental.

For example, the stamp duty paid on a previously stamped lease was $192 based on the gross rent of $2,000 per month for 2 years. A lease document is executed to reflect the increase in gross rent from $2,000 to $3,000 per month for the remaining 6 months of the lease term of 2 years, the stamp duty will be as follows :

  • Total gross rent for 18 months = $2,000 x 18 months = $36,000
  • Total gross rent for remaining 6 months = $3,000 x 6 months = $18,000
  • Average annual rent = ($36,000 + $18,000) / 2 years = $27,000
  • Taking the difference between the new average annual rent and the old annual rent  = $27,000-24,000 = $3000
  • To determine how many parts of $250 in the difference of annual rent = $3000 / 250 = 12
  • Additional stamp duty = 12 x $2 = $24

You cannot up stamp if the lease term and parties to the contract have changed. This is regarded as a fresh lease and you have to pay the full duty.

Return to <TOP>

16. Who has to pay stamp duty?

The persons liable to pay stamp duty will be in accordance to the terms of the document.

If the terms of the document are silent on this, under the Stamp Duties Act (Cap 312), the stamp duty will be borne by the tenant and duty on duplicate will be borne by the landlord.

Mortgage

Return to <TOP>

17. Mortgage Stamp Duty

Based on the amount of facilities granted on mortgage of immovable property or stocks and shares

Every $1,000 or part thereof

$4 (Maximum duty payable is $500)

Return to <TOP>

18. Who is liable to pay stamp duty

The mortgagor or obligor

 

Return to <TOP>

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September 06, 2012
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