in Singapore, the buyer/seller may be subjected to the following taxes:
- Buyer Stamp Duty (BSD)
- Additional Buyer Stamp Duty (ABSD)
- Seller Stamp Duty (SSD)
Buyer Stamp Duty (BSD):
The Buyer’s Stamp (BSD) is a tax that every buyer has to pay when they purchase a property. It is a progressive tax system; the more expensive the property, the higher the tax. For residential properties, the buyer will be charged 1% for the first 180,000, 2% for the next $180,000, 3% for the next $640,000, and 4% for the remaining amount.
Additional Buyer Stamp Duty (ABSD):
For residential properties, buyers are required to pay ABSD on top of the existing BSD. ABSD and BSD are computed on the purchase price as stated in the dutiable document of the market value of the property (whichever is the higher amount).
Seller’s Stamp Duty (SSD)
This stamp duty applies to all residential properties and land sold within three years after the date of purchase. SSD was introduced in 2010 as a measure to curb the act of property flipping.