LATEST!! How does the New Cooling Measure (Rates on or After 6 July 2018) affect you as a buyer/seller?

How does the New Cooling Measure (Rates on or After 6  July 2018) affect you as a buyer/seller?
1)  Residential Property:  Seller Stamp Duty (SSD) (on or after 11032017)

• Up to 1 year : 12% of price or market valuation, whichever is higher
• More than 1 year and up to 2 years: 8% of price or market valuation, whichever is higher
• More than 2 years and up to 3 years: 4% of price or market valuation, whichever is higher
• More than 3 years: NO SSD payable

2) Buyer Stamp Duty(BSD)

3) Residential Property: Additional Buyer Stamp Duty (ABSD)

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. 

⁴ 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. ⁵ ABSD is to be rounded down to the nearest dollar.

4) Loan to Value (LTV)

Should you have any question, do feel free to 

Call | SMS | Whatapp

Den Ng

Housing Matters

9176 7970