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Ministry of Finance (MOF)
Public Consultations

Summary of Responses - Public Consultation on Draft Stamp Duties (Amendment) Bill 2012

15 November 2012

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MOF Accepts For Further Review 3 of 5 Suggestions on the Draft Stamp Duties (Amendment) Bill 2012

  1. The Ministry of Finance (MOF) has accepted for further review 3 of the 5 suggestions on the draft Stamp Duties (Amendment) Bill 2012 received during the public consultation exercise held from 20 September 2012 to 10 October 2012. The other 2 suggestions are not accepted for implementation as one is inconsistent with the policy objectives for the proposed legislative changes, and the other is inconsistent with the legislative drafting conventions.

Draft Stamp Duties (Amendment) Bill 2012

  1. The draft Stamp Duties (Amendment) Bill 2012 proposed legislation to put into effect the enhancement of the stamp duty concession under the Mergers and Acquisitions (M&A) Scheme announced in the in Budget 2012, as well as changes arising from the periodic review of the stamp duty tax system to improve legislative clarity or stamp duty administration. Details of the tax changes are as follows:

    Budget 2012 change

    Non-budget 2012 changes

Public Participation in the Consultation Exercise

  1. A summary of the key suggestions received on the draft Stamp Duties (Amendment) Bill 2012 and MOF’s responses are as follows:

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[1]Prescribed purpose refers to the property use for which SSD applies.

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