Property stamp duty Singapore : easy formula for Calculations

Dollarbackmortgage24 Jun, 2024Business

The Inland Revenue Authority of Singapore (IRAS) collects two stamp duties imposed on the buyer: Buyer?s stamp duty (BSD) and Additional buyer?s stamp duty (ABSD). There is another type of stamp duty, called Seller?s Stamp Duty (SSD), but it has to be paid by the seller (not the buyer) when they sell a property within a specific timeframe. These property taxes ensure Singapore citizens and Permanent Residents have priority in home ownership. They also prevent roller-coaster prices that would hurt the economy and, ultimately, the cost of living.