Table of Contents
Understanding Property Purchase Taxes Overview
Nature of Property
Generally, there are different types of property and also the taxes and rates involved in these properties differ from each other. Purchaser profile also has an impact in the taxes.
- Commercial
- Industrial
- Residential
- HDB
- Private Condo
- Landed Property
- Executive Condominium
- Private Condominium
Type of Taxes when Purchasing Properties in Singapore
Generally for all property purchase, there’s a Buyer Stamp Duty payable for all property type. Depending on the purchaser profile, there may be an Additional Buyer Stamp Duty (ABSD) Payable. GST is payable for purchaser buying commercial and industrial properties.
What is Buyer Stamp Duty?
For any property purchase in Singapore there’s a buyer stamp duty payable, irregardless of property type, whether commercial, residential or industrial property, this tax is always payable when buying Singapore properties. Any form of cash rebates, discount have to be duly declared with the nett price price. [ Read More ]
| Purchase Price | Residential Properties BSD Rates | Non Residential Properties BSD Rates |
| First $180,000 | 1% | 1% |
| Next $180,000 | 2% | 2% |
| Next $640,000 | 3% | 3% |
| Remaining Amount | 4% | 3% |
Additional Buyer Stamp Duty (ABSD)
Additional buyer Stamp Duty is payable on top of the buyer stamp duty, depending on purchaser profile. It is only payable for purchaser buying residential properties with 2 or more properties, buying under Singapore Permanent Resident (SPR) and foreigner. This is not applicable to Singapore Citizen (SC) and Singapore Permanent Resident (SPR) buying 1st property. [ Read More ]
| Buyer Profile | ABSD Rate (8 Dec 2011 to 11 Jan 2013) | ABD Rate (12 Jan 2013 to 5 Jul 2018) | ABSD Rate (After 6 July 2018) |
| Singapore Citizen (SC) - 1st Residential Property | N.A. | N.A. | N.A |
| Singapore Citizen (SC) - 2nd Residential Property | N.A. | 7% | 12% |
| Singapore Citizen (SC) - 3rd Residential Property | 3% | 10% | 15% |
| Singapore Permanent Resident (SPR) - 1st Residential Property | N.A. | 5% | 5% |
| Singapore Permanent Resident (SPR) - 2nd Residential Property or More | 3% | 10% | 15% |
| Foreigners (FR) - Any Residential Property | 10% | 15% | 20% |
| Entities - Any Residential Property | 10% | 15% | 25% |
Goods and Service Tax (GST)
GST is only payable for Commercial or Industrial property when the owner or developer is a GST registered company. The current rate is 7% of the purchase price. In the event of progressive payment, the GST of 7% is payable progressively too accordingly to the payment schedule.
Taxes for Different Property Types
Stamp Duty and Taxes for Commercial Property
For purchaser buying Commercial Property, the following taxes are payable accordingly to the purchase price
- Buyer Stamp Duty
- GST (If the seller or developer is GST Registered company)
Stamp Duty and Taxes for Industrial Property
For purchaser buying Industrial Property, the following taxes are payable accordingly to the purchase price
- Buyer Stamp Duty
- GST (If the seller or developer is GST Registered company)
Stamp Duty and Taxes for Residential Property
For purchaser buying Residential property, the following taxes are payable accordingly to the purchase price
- Buyer Stamp Duty
- Additional Buyer Stamp Duty (ABSD) – Payable when
- Singapore Citizen own 2 or more properties
- Singapore Permanent Resident own 2 or more properties
- Buying under entities.
