Budget 2018 - Buyers Stamp Duty Changes

The Minister for Finance, in his Budget Statement 2018, announced changes to the tax rate for buyers stamp duty for acquisitions of residential properties in Singapore. This change came amid a property market which saw an uptick in prices after successive quarters of decline since 2013, and an active enbloc sales market which saw eight deals worth slightly more than S$3.1 billion sealed in the first six weeks of the year.

For contracts to purchase inked prior to 20 February 2018, the buyers' stamp duty (BSD) rates are:- 1% for first S$180,000, 2% for second S$180,000, and 3% for such part of the price above S$360,000. The formula for price or value above S$360,000 is 3% less S$5,400.