Understanding Singapore Residential Property Stamp Duties: ABSD & BSD

Navigating Singapore's property market can be complex, especially when it comes to understanding the various stamp duties involved. Two of the most significant are the Buyer's Stamp Duty (BSD) and the Additional Buyer's Stamp Duty (ABSD). These duties play a crucial role in the overall cost of purchasing a residential property in Singapore.

To help you get a clearer picture, we have developed an interactive guide that allows you to calculate these duties based on your profile and property value. https://www.orientalrealty.com.sg/absd-rate-calculation

What is Buyer's Stamp Duty (BSD)?

The Buyer's Stamp Duty (BSD) is a tax levied on all property purchases in Singapore, regardless of the buyer's nationality or the number of properties they own. It's calculated based on the purchase price or market value of the property, whichever is higher, using a tiered system.

Latest BSD Rates (from 15 February 2023):

• First $180,000: 1%

• Next $180,000 (up to $360,000): 2%

• Next $640,000 (up to $1,000,000): 3%

• Next $500,000 (up to $1,500,000): 4%

• Next $1,500,000 (up to $3,000,000): 5%

• Above $3,000,000: 6%

Prior to this, the maximum rate was 4% for properties above $1,000,000.

What is Additional Buyer's Stamp Duty (ABSD)?

The Additional Buyer's Stamp Duty (ABSD) is an additional tax imposed on top of the BSD for certain categories of buyers and properties. It was introduced as a cooling measure to manage demand in the residential property market. The rates vary significantly based on your residency status (Singapore Citizen, Permanent Resident, or Foreigner) and the number of residential properties you already own.

Latest ABSD Rates (from 27 April 2023):

• Singapore Citizens:

  • First residential property: 0%

  • Second residential property: 20%

  • Third and subsequent residential property: 30%

• Singapore Permanent Residents (PR):

  • First residential property: 5%

  • Second residential property: 30%

  • Third and subsequent residential property: 35%

• Foreigners:

  • Any residential property: 60%

• Entities (Companies, Associations, Trustees):

  • Any residential property: 65%

• Housing Developers:

  • Any residential property (remittable + non-remittable): 35% + 5% (non-remittable)

Key Exemptions and Remissions for ABSD

It's important to note that certain foreign individuals may be exempted from the higher ABSD rates due to Free Trade Agreements (FTAs) that Singapore has with specific countries.

• Exempted Nationals/PRs: Nationals and Permanent Residents of Switzerland, Liechtenstein, Norway, Iceland, and Nationals of USA will be accorded the same treatment as Singapore Citizens, upon making an application for ABSD Remission under FTA for their first residential property. This means they could potentially pay 0% ABSD on their first home.

• HDB Flats & Executive Condominiums: ABSD will be remitted for the purchase of an HDB flat or a new Executive Condominium by a Singapore Citizen household only.

• Married Couples: ABSD remission may also apply to co-purchases by a married couple involving a Singapore spouse if the purchase results in a property count of 1 for both spouses after the transaction.

How Our Calculator Helps

Our interactive Stamp Duty Calculator allows you to input your property value, buyer profile, and property purchase number. If you're a foreigner, you can also indicate if you're from an ABSD-exempted country. The calculator will then instantly display the latest BSD and ABSD amounts, giving you a clear estimate of your total stamp duty payable.

This tool is designed to provide quick and easy access to these complex calculations, helping you better plan your property purchase.

Important Disclaimer: This calculator and the information provided are for general reference only. While we strive for accuracy, stamp duty rates and regulations can change. Please verify the final rates and requirements with the official Inland Revenue Authority of Singapore (IRAS) website or a qualified professional before making any property decisions.