Additional Buyer's Stamp Duty (ABSD)
Additional buyer’s stamp duty (“ABSD”) is payable on the acquisition of residential properties, based on the higher of the consideration or market value. The ABSD rate applicable depends on the profile of the buyer. For acquisitions made jointly by two or more parties of different profiles, the ABSD rate applicable will be based on the profile with the highest ABSD rate on the entire property value acquired.
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.
Under the respective FTAs, Nationals and Permanent Residents of Iceland, Liechtenstein, Norway or Switzerland and Nationals of the United States of America will be accorded the same Stamp Duty treatment as Singapore Citizens.
Full ABSD remission may be applicable to a married couple who purchase a residential property jointly. The couple must include a Singapore Citizen (SC) spouse and the property must be purchased under both names of the couple only. In addition, both the spouses must not own any residential property.