Stamp Duties (Inherited Properties) Remission Order 1996

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No. S 391

Stamp Duties Act

(Chapter 312)

Stamp Duties (Inherited Properties) Remission Order 1996

In exercise of the powers conferred by section 75 of the Stamp Duties Act, the Minister for Finance hereby makes the following Order:

1. This Order may be cited as the Stamp Duties (Inherited Properties) Remission Order 1996 and shall be deemed to have come into operation on 15th May 1996.

2. In this Order, unless the context otherwise requires —

“holding period” means the period commencing from the date of acquisition of any residential property or share by a deceased person and ending on the date of the conveyance or other instrument under which such property or share is disposed by his surviving joint tenant or tenants, any beneficiary under his will or any person entitled to succeed beneficially his estate, as the case may be;

“share” means a share in a private company referred to in section 22A(4) of the Act.

3. Where —

(a)	a joint tenant of any residential property dies and the surviving joint tenant or tenants acquire the whole of the property by the operation of the right of survivorship; or
(b)	a beneficiary under a will or a person entitled to succeed beneficially to the estate of an intestate under any written law actually acquires any residential property or any share in consequence of the death of the testate or intestate, as the case may be,

there shall be remitted in accordance with paragraph 4 the duty chargeable under section 22A of the Act on any conveyance on sale (including any instrument chargeable in like manner) of that residential property or share, as the case may be, executed on or after 15th May 1996 by the surviving joint tenant or tenants referred to in sub-paragraph (a) or the beneficiary or person referred to in sub-paragraph (b), as the case may be.

4.—(1) Where the holding period applicable to any surviving joint tenant or tenants, any beneficiary under a will or any person entitled to succeed beneficially to an intestate’s estate, as the case may be, exceeds 3 years, there shall be remitted all duty chargeable under section 22A of the Act.

(2) Where the holding period applicable to any surviving joint tenant or tenants, any beneficiary under a will or any person entitled to succeed beneficially to an intestate’s estate, as the case may be, does not exceed 3 years, the duty to be remitted shall be the duty in excess of the amount determined in accordance with the Schedule in relation to the applicable holding period.

Made this 20th day of August 1996.

NGIAM TONG DOW

Permanent Secretary,
Ministry of Finance,
Singapore.

[MF(R)R54.1.001 Vol.9; AG/SL/42/95]

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