Statistics on Stamp Duty and Property Tax Collected from Purchase and Sale of Properties from 2015 to 2017
10 Jul 2018Parliamentary Question by Mr Gan Thiam Poh:
To ask the Minister for Finance how much stamp duty and property tax has been collected from the purchase and sale of properties in the first five months of this year and what is the percentage of increase year to year for the past three years.
Parliamentary Reply by Minister for Finance, Mr Heng Swee Keat:
The Singapore Department of Statistics publishes monthly data on the Government’s operating revenue, including data on stamp duty and property tax collection.
Stamp duty is payable on instruments which effect a transfer of interest in properties, and stocks or shares in Singapore. In the first five months of 2018, we have collected about $2.2 billion in stamp duty. The percentage changes in stamp duty collection are: -6.2% in 2015, +14.2% in 2016 and +45.9% in 2017. Stamp duty from property transactions made up the vast majority of total stamp duty collection.
Property tax is payable annually for property ownership. In the first five months of 2018, we have collected about $2.2 billion in property tax. The percentage changes in property tax collection are: +4.2% in 2015, -1.3% in 2016 and +0.4% in 2017.
To ask the Minister for Finance how much stamp duty and property tax has been collected from the purchase and sale of properties in the first five months of this year and what is the percentage of increase year to year for the past three years.
Parliamentary Reply by Minister for Finance, Mr Heng Swee Keat:
The Singapore Department of Statistics publishes monthly data on the Government’s operating revenue, including data on stamp duty and property tax collection.
Stamp duty is payable on instruments which effect a transfer of interest in properties, and stocks or shares in Singapore. In the first five months of 2018, we have collected about $2.2 billion in stamp duty. The percentage changes in stamp duty collection are: -6.2% in 2015, +14.2% in 2016 and +45.9% in 2017. Stamp duty from property transactions made up the vast majority of total stamp duty collection.
Property tax is payable annually for property ownership. In the first five months of 2018, we have collected about $2.2 billion in property tax. The percentage changes in property tax collection are: +4.2% in 2015, -1.3% in 2016 and +0.4% in 2017.