33.

Currently, estate duty exemption is given on a two-tiered basis: for residential properties in Singapore, exemption is given up to $9 million, and generally for all other dutiable assets, $600,000. However, for residential properties to qualify for the $9 million exemption, they must not be used for any form of business activity. To encourage entrepreneurs who may want to work from home, this rule will be relaxed. With immediate effect, a Singapore residential property used for business activity will also qualify for the estate duty exemption for residential property, as long as the residential character of the property is not materially affected. This relaxation will support the Technopreneur Home Office Scheme, and also allow other small businesses to be carried out in residential properties without disqualifying these fromestate duty exemption.