Stamp Duties (Transfer of Interest in Property which Buyer has Interest) (Remission of ABSD) Rules 2013

No. S 216

Stamp Duties Act

(CHAPTER 312)

Stamp Duties
(Transfer of Interest in Property
which Buyer has Interest)
(Remission of ABSD)
Rules 2013

In exercise of the powers conferred by section 74 of the Stamp Duties Act, the Minister for Finance hereby makes the following Rules:

Citation and commencement

1. These Rules may be cited as the Stamp Duties (Transfer of Interest in Property which Buyer has Interest) (Remission of ABSD) Rules 2013 and shall be deemed to have come into operation on 12th January 2013.

Definitions

2.—(1) In these Rules —

“additional buyer’s stamp duty” or “ABSD” means the duty referred to in paragraph (bf) of Article 3 of the First Schedule to the Act;

“housing developer” has the meaning given to it in paragraph (1) of Article 3 of the First Schedule to the Act;

[S 454/2018 wef 06/07/2018]

“relevant individual” means a Singapore citizen owning 2 properties or a Singapore permanent resident owning one property;

“residential property” has the same meaning as in paragraph (b) of the definition of that term in paragraph (1) of Article 3 of the First Schedule to the Act;

“Singapore citizen not owning property”, “Singapore citizen owning one property”, “Singapore citizen owning 2 properties”, “Singapore citizen owning 2 or more properties”, “Singapore permanent resident not owning property”, “Singapore permanent resident owning one property”, “Singapore permanent resident owning property”, “foreigner” and “entity” have the meanings given to those expressions in paragraph (1) read with paragraphs (2)(a), (3) and (8) of Article 3 of the First Schedule to the Act, but with the reference to the instrument to be stamped in each of the definitions of those expressions, and the reference to the instrument in question in paragraph (3), substituted in each case with a reference to the instrument on which any amount of ABSD chargeable thereon is remitted under rule 3 or is so remitted but for the operation of rule 4.

(2) In these Rules, a reference to joint purchasers, grantees, transferees or lessees is a reference to persons to whom the estate or interest in the residential property in question is sold, conveyed, transferred or assigned as joint tenants or as tenants in common.

(3) In these Rules, except where the residential property is to be held as property of a business trust or a collective investment scheme or as partnership property, a reference to a purchaser, grantee, transferee or lessee, in a case where he is to hold the residential property on trust, is a reference to the beneficial owner; and where there is more than one beneficial owner (whether or not including the purchaser, grantee, transferee or lessee himself), all the beneficial owners shall be treated as joint purchasers, grantees, transferees or lessees.

Remission of ABSD

3.—(1) Subject to rule 4, there shall be remitted the prescribed amount of ABSD that is chargeable on —

(a)	a contract or agreement for the sale of, or a conveyance, assignment or transfer on sale of, an estate or interest in a single residential property; and
(b)	any instrument chargeable in like manner,

if —

(i)	the purchaser, grantee, transferee or lessee or any of 2 or more joint purchasers, grantees, transferees or lessees under the instrument is a relevant individual;
(ii)	at the time of execution of the instrument, the relevant individual beneficially owns jointly or in common with one or more other persons any estate or interest in any residential property other than by virtue of the transaction which is the subject of the instrument; and
(iii)	that other or any of those other persons sells, conveys, transfers or assigns his estate or interest (or any part thereof) in that property under the instrument to the purchaser, grantee, transferee or lessee or the joint purchasers, grantees, transferees or lessees.

(2) In paragraph (1), the prescribed amount of ABSD chargeable on an instrument is —

(a)

if the relevant individual is a Singapore citizen owning 2 properties or, if there is more than one relevant individual, any one or more of them is or are a Singapore citizen owning 2 properties or Singapore citizens owning 2 properties, 3% of the amount or value of the consideration of the estate or interest (or part thereof) referred to in paragraph (1)(iii); or

(b)

in any other case —

(i)	if the instrument is executed before 6 July 2018 or the Stamp Duties (Instruments on or before 5 July 2018) (Remission) Rules 2018 (G.N. No. S 453/2018) applies to the instrument, 5% of the amount or value of the consideration of the estate or interest (or the part of the estate or interest) mentioned in paragraph (1)(iii); or
(ii)	if the instrument is executed on or after 6 July 2018 and the Stamp Duties (Instruments on or before 5 July 2018) (Remission) Rules 2018 does not apply to the instrument, 10% of the amount or value of the consideration of the estate or interest (or the part of the estate or interest) mentioned in paragraph (1)(iii).

[S 454/2018 wef 06/07/2018]

Circumstances where rule 3 is inapplicable

4.—(1) Rule 3 shall not apply if —

(a)

the relevant individual or individuals (as the case may be), together with one or more other persons, are joint purchasers, grantees, transferees or lessees under the instrument; and

[S 301/2014 wef 23/04/2014]

(b)

without considering the status of the relevant individual or individuals, sub-paragraph (i), (ii), (iii), (iv), (v), (vi), (vii), (viii), (ix) or (x) of paragraph (bf) of Article 3 of the First Schedule to the Act (referred to in this rule as the Article) applies to the instrument by virtue of the fact that the other person or any of the other persons is —

(i)	in the case of sub-paragraph (i) of paragraph (bf) of the Article, a Singapore citizen owning one property;
(ii)	in the case of sub-paragraph (ii) of paragraph (bf) of the Article, a Singapore permanent resident not owning property;
(iii)	in the case of sub-paragraph (iii) of paragraph (bf) of the Article, a Singapore citizen owning 2 or more properties, or a Singapore permanent resident owning property;
(iv)	in the case of sub-paragraph (iv) or (v) of paragraph (bf) of the Article, a Singapore citizen not owning property;
(v)	in the case of sub-paragraph (vi) of paragraph (bf) of the Article, a Singapore citizen owning one property;
(vi)	in the case of sub-paragraph (vii) of paragraph (bf) of the Article, a Singapore permanent resident not owning property; [S 454/2018 wef 06/07/2018]
(vii)	in the case of sub-paragraph (viii) of paragraph (bf) of the Article, a foreigner; [S 301/2014 wef 23/04/2014] [S 454/2018 wef 06/07/2018]
(viii)	in the case of sub-paragraph (ix) of paragraph (bf) of the Article, an entity other than a housing developer; and [S 454/2018 wef 06/07/2018]
(ix)	in the case of sub-paragraph (x) of paragraph (bf) of the Article, a housing developer. [S 454/2018 wef 06/07/2018]

[S 454/2018 wef 06/07/2018]

(2) For the avoidance of doubt, rule 3 does not apply if the property purchased, conveyed, transferred or assigned is to be held as partnership property.

Rules subject to other Rules

5. In a case where only a part of the full amount of ABSD chargeable on an instrument is remitted under rule 3, but the full amount of ABSD chargeable on the instrument is remitted by an application of a provision of any other Rules made under section 74 of the Act, then the provision of those other Rules shall apply notwithstanding anything in these Rules.

ABSD amount remitted in addition to ABSD amount remitted under certain other Rules

6. The amount of ABSD remitted on an instrument under rule 3 is in addition to any amount of ABSD remitted on the same instrument under the Stamp Duties (Instruments on or before 5 July 2018) (Remission) Rules 2018.

[S 454/2018 wef 06/07/2018]

Made this 3rd day of April 2013.

LIM SOO HOON

Permanent Secretary
(Finance) (Performance),
Ministry of Finance,
Singapore.

[MOF (R) 54.1.0004.Vol 4; AG/LLRD/SL/312/2010/29 Vol. 1]

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