A. Whether the Buyer is an Individual or an Entity

An entity means a person who is not an individual. It includes the following:

  • An unincorporated association
  • A trustee for a collective investment scheme when acting in that capacity
  • A trustee-manager for a business trust when acting in that capacity
  • The partners of the partnership whether or not any of them is an individual, where the property conveyed, transferred or assigned is to be held as partnership property

If a property is jointly purchased by buyers of different profiles, the profile with the highest ABSD rate will apply on the entire value purchased.

If A purchases a residential property to be held on trust for the beneficial owner B, ABSD is charged based on the profile of the beneficial owner, B.

B. The Residency Status of the Buyer

The applicable ABSD rate is based on the nationality of the buyer on the date of purchase. You must have been granted the residency status by the Immigration and Checkpoint Authority (ICA) as at the date of purchase in order to enjoy lower ABSD liability. The date of issue reflected in the IC collection slip would be taken as when the residency status was granted.

For BSD rates, please refer to the chart below.

ABSD is to be rounded down to the nearest dollar, subject to a minimum duty of $1.

 1  Whether owned wholly, partially or jointly with others.

2 An Entity means a person who is not an individual. It includes the following:

  • An unincorporated association,
  • A trustee for a collective investment scheme when acting in that capacity,
  • A trustee-manager for a business trust when acting in that capacity
  • The partners of the partnership whether or not any of them is an individual, where the property conveyed, transferred or assigned is to be held as partnership property.

3 As entities, developers will also be subject to the ABSD rate of 25% for entities. Developers may apply for remission of this 25% ABSD, subject to conditions. 

Housing Developers refer to entities in the business of housing development (i.e. construction and sale of housing units) with respect to the subject property acquired. 

5 This 5% ABSD for Housing Developers is in addition to the 25% ABSD for all entities. This 5% will not be remitted, and is to be paid upfront upon purchase of residential property.

All entities will be subject to the new ABSD rate of 25%. In addition, housing developers are subject to an additional non-remittable ABSD rate of 5% upon stamping, i.e. aggregate ABSD rate of 30%. Such developers may apply for remission on the ABSD rate of 25% under the ABSD remission for development of 4 or less units or housing accommodation or ABSD remission for development of 5 or more units of housing accommodation.

Entities who are acquiring residential properties with no intention to carry out housing development (i.e. construction and sale of housing units) with respect to the subject property acquired should pay the ABSD rate of 25%.

It is important for the purchasing entity to decide whether it will undertake housing development of the subject property at the point of purchase, in order to ascertain the applicable ABSD treatment. Any subsequent change of intention will not be considered for stamp duty purposes. For example, entities who have paid the ABSD rate of 25% will not qualify for the ABSD Housing Developers Remission, even if they fulfil the remission conditions subsequently. Similarly, developers who paid the ABSD rate of 5% and applied for the ABSD Housing Developers Remission cannot withdraw their application subsequently. If they are unable to meet the remission conditions, the remitted ABSD of 25% will be recovered with interest.

Jadescape ABSD Rates post 5July2018