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Buyer’s Stamp Duty (BSD) Rate to be Raised, on the Value of Residential Property in Excess of $1 Million

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Tax-Related (Stamp Duty)

19 February 2018

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1. The Minister for Finance announced in the 2018 Budget Speech that the top marginal Buyer’s Stamp Duty (BSD) rate will be raised from 3% to 4%, and applied on the value of residential property in excess of $1 million. The revised BSD rates will apply to all residential properties acquired on or after 20 February 2018. Details of the revised BSD rates are in the Annex. 

Transitional Provision

2. There will be a transitional provision for cases where an Option to Purchase (OTP) has been granted by sellers to potential buyers on or before 19 February 2018. For such cases, the current BSD rates, instead of the revised BSD rates, will apply if the OTP is exercised within 3 weeks of this announcement (i.e. exercised on or before 12 March 2018) or the OTP validity period, whichever is earlier. 

3. Further details of this measure can be found at https://www.iras.gov.sg.


Issued by:
Ministry of Finance
Singapore
19 February 2018


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ANNEX

Existing and New Buyer's Stamp Duty (BSD) Rates

BSD Rates[1] on the actual price or market value based on date of acquisition

Tierson or before 19 February 2018

Tierson or after 20 February 2018

All Properties

Residential Properties (Revised)

Non-Residential Properties
(No Change)

1%

First $180,000

First $180,000 (No Change)

First $180,000

2%

Next $180,000

Next $180,000 (No Change)

Next $180,000

3%

Amount exceeding $360,000

Next $640,000 (Revised)

Amount exceeding $360,000

4% (New)

Previously not applicable

Amount exceeding $1,000,000 (New)

Not appli


[1] The additional conveyance duties rates will also be adjusted accordingly. 

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