The government has closed an existing loophole meant to help cool the property market “arising from its periodic policy review.”
This comes less than half a year after the government’s most recent round of property cooling measures out on Dec 15, where among others, ABSD has been raised to 17% from 12% for Singaporeans buying their second property. ABSD may also be payable, depending on the profile of the beneficial owner of the residential property transferred into the trust.
With this latest change, ABSD will be payable even if there is no identifiable beneficial owner at the time the residential property is transferred into a trust.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Property Property Latest News, Property Property Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Singapore slaps 35% additional buyer's stamp duty on residential property transfers into living trustSINGAPORE - Transfers of residential properties into a living trust will be subject to an additional buyer's stamp duty (ABSD) of 35 per cent from Monday (May 9), the Ministry of Finance (MOF) announced on Sunday. A living trust is created by an individual during his lifetime, where a designated person, the trustee, is given responsibility of managing that individual's...
Source: asiaonecom - 🏆 10. / 59 Read more »
Additional buyer's stamp duty of 35% to apply on any transfer of residential property into living trust from May 9SINGAPORE — Additional buyer’s stamp duty (ABSD) of 35 per cent now will apply on any transfer of residential property into a living trust occurring on or after May 9, the Ministry of Finance (MOF) announced on Sunday (May 8).
Source: TODAYonline - 🏆 1. / 99 Read more »
Additional buyer's stamp duty of 35% to apply on any transfer of residential property into living trust from May 9SINGAPORE: Additional buyer’s stamp duty (ABSD) of 35 per cent now will apply on any transfer of residential property into a living trust occurring on or after May 9, the Ministry of Finance (MOF) announced on Sunday (May 8). ABSD will be payable even if there is no identifiable beneficial own
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Singapore slaps 35% additional buyer's stamp duty on residential property transfers into living trustSINGAPORE - Transfers of residential properties into a living trust will be subject to an additional buyer's stamp duty (ABSD) of 35 per cent from Monday (May 9), the Ministry of Finance (MOF) announced on Sunday. A living trust is created by an individual during his lifetime, where a designated person, the trustee, is given responsibility of managing that individual's...
Source: asiaonecom - 🏆 10. / 59 Read more »
Additional buyer's stamp duty of 35% to apply on any transfer of residential property into living trust from May 9SINGAPORE: Additional buyer’s stamp duty (ABSD) of 35 per cent now will apply on any transfer of residential property into a living trust occurring on or after May 9, the Ministry of Finance (MOF) announced on Sunday (May 8). ABSD will be payable even if there is no identifiable beneficial own
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »