Buyer Stamp Duty is tax paid on the acceptance or exercising of Option to Purchase (OTP) / Sale & Purchase Agreements (S&P). Buyer Stamp Duty is payable on the actual price or market price whichever is higher. The buyer is responsible to the buyer stamp duty to IRAS within 14 days of exercising the OTP or S&P if it is signed in Singapore and within 30 days after receiving* the document in Singapore if the document is signed overseas.
Here is the payment schedule for the Buyer Stamp Duty:
| Payment Schedule | % of Stamp Duty |
|---|---|
| First S$180,000 | 1% |
| Next S$180,000 | 2% |
| Next S$640,000 | 3% |
| Remaining Amount | 4% |
If you are buying an S$1,500,000 Singapore residential property, the buyer stamp duty payable is S$44,600 and the calculation is as followed:
| Payment Schedule | Buyer Stamp Duty Payable |
| On the first $180,000 | 1% of $180,000 = $1,800 |
| On the next $180,000 | 2% of $180,000 = $3,600 |
| On the next $640,000 | 3% of $640,000 = $19,200 |
| Remaining $500,000 | 4% of $500,000 = $20,000 |
| Total Buyer Stamp Duty Payable | $1,800 + $3,600 + $19,200 + $20,000 = $44,600 |
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Edwin Goh
Branch District Director, ERA
In my seven years of real estate career, I have seen many property owners losing their money or have their money stuck in their property investment. Mostly because of bad decisions made based on lack of information, bad advice and unchecked emotions. I would love to meet up with every one of you and help you in your real estate journey, but this may not be possible. So, I have started this blog to share my insights and hopes they will help you make a better decision.
If you are ready to begin your rewarding real estate investment journey with me, Whatsapp me today at +65 9004 5827, till we meet, good luck in your real estate investment journey.