Contracts, etc., to be chargeable as conveyances on sale
22.—(1)  Every contract or agreement for the sale of —
(a)any equitable estate or interest in any property; or
(b)any estate or interest in any property except property situated outside Singapore,
is chargeable with the same ad valorem duty, payable by the purchaser, as if it were an actual conveyance on sale of the estate, interest or property contracted or agreed to be sold.
[1/2013; 13/2017]
(2)  Where such ad valorem duty has been paid in accordance with subsection (1) and, before having obtained a conveyance or transfer of the property, the purchaser assigns the purchaser’s equitable estate or interest in that property or enters into any contract or agreement for the sale of that property, the assignment, contract or agreement is chargeable with ad valorem duty in respect of the consideration moving from the sub‑purchaser of that estate, interest or property as if it were an actual conveyance on sale to the sub‑purchaser.
(3)  Where any purchaser or sub‑purchaser has paid ad valorem duty upon any assignment, contract or agreement in accordance with subsection (1) or (2), the conveyance or transfer made to the purchaser or sub‑purchaser (as the case may be) is, if executed on or after 19 February 2011, exempt from duty.
[23/2011]
(4)  Where a person, having contracted jointly or otherwise for the purchase of any property but not having obtained a conveyance of the property, directs the vendor of the property in writing to convey or transfer the property or any share in the property —
(a)to another person; or
(b)where the person contracted for the purchase of the property jointly with another, to the joint purchasers in shares other than as specified in the contract for the purchase of the property,
the direction is, for the purpose of this Act, treated as a contract or an agreement for the sale of that property or share in that property for a consideration equal to the value of that property or share in that property and is chargeable with duty as if it were an actual conveyance on sale of that property or share in that property.
(5)  Where more than one contract or agreement for sale is executed by a purchaser in respect of the same sale of the same property, only one such contract or agreement for sale of the property is chargeable with ad valorem duty under this section and any other contract or agreement for the same sale of the same property is, if executed on or after 19 February 2011, exempt from duty.
[23/2011]
(6)  Subject to subsection (7), the ad valorem duty paid under this section upon any contract or agreement for the sale of property must, on application, be refunded by the Commissioner where the contract or agreement is later rescinded or annulled on the ground that —
(a)the vendor is unable to prove the vendor’s title to the property;
(b)a purchaser, being a foreign person, is unable to obtain approval under the Residential Property Act 1976 to acquire or purchase the property;
(c)the property is acquired or is proposed for acquisition by any public authority pursuant to the provisions of any written law authorising or empowering the public authority to acquire land compulsorily;
(d)the purchase of the property is conditional upon permission by the competent authority to develop or subdivide the property and such permission is refused;
(e)either vendor or purchaser fails to obtain the approval of any public authority to sell or purchase (as the case may be) the property;
(f)the Commissioner of Building Control made an order under section 24 of the Building Control Act 1989 in respect of the property; or
(g)a Strata Titles Board or the General Division of the High Court (as the case may be) refused an application for an order for the sale of the property under section 84A, 84D, 84E or 84FA of the Land Titles (Strata) Act 1967.
[13/2010; 23/2011; 40/2019]
(7)  The refund under subsection (6) is to be made if and only if —
(a)the application for refund is made by the person who paid or is liable to pay the duty within —
(i)6 months after the date of the stamp, or in the case of an executed instrument, after the date of the instrument;
(ii)if the instrument is not dated, 6 months after the execution of the instrument;
(iii)in the case of a contract or an agreement that is rescinded or annulled on the ground mentioned in subsection (6)(g), 2 months after the refusal of a Strata Titles Board or the General Division of the High Court, as the case may be; or
(iv)such further time as the Commissioner may deem reasonable when, in unavoidable circumstances, the instrument cannot be produced within that period; and
(b)in the case of an executed instrument, the instrument is surrendered to the Commissioner, unless the Commissioner dispenses with such surrender in a particular case.
[23/201l; 30/2014; 40/2019]
(8)  Subject to the provisions of this Act, this section applies to instruments made on or after 15 May 1996.
(9)  In this section —
“Commissioner of Building Control” has the meaning given by the Building Control Act 1989;
“competent authority” has the meaning given by the Planning Act 1998;
“public authority” means the Housing and Development Board constituted by the Housing and Development Act 1959 or the Jurong Town Corporation constituted by the Jurong Town Corporation Act 1968;
“Strata Titles Board” means a Strata Titles Board constituted under the Building Maintenance and Strata Management Act 2004.
[13/2010]