ABSD Singapore

2022 - 5 - 9

ABSD

Post cover — Image courtesy of "The Straits Times"

Additional buyer's stamp duty of 35% to be levied on transfers of ... (The Straits Times)

SINGAPORE - 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 new ABSD is to be payable upfront, when the residential property is transferred into any living trust. The ABSD may also be payable, depending on the profile of the beneficial owner of the property transferred into the trust. Currently, the buyer's stamp duty (BSD) is payable when a residential property is transferred into a living trust.

Singapore slaps 35% ABSD on residential property transfers into ... (The Business Times)

AN ADDITIONAL Buyer's Stamp Duty (ABSD) of 35 per cent will be imposed on any transfer of residential property into a living trust, where the transfer ...

ABSD of 35% to apply on transfer of residential property into a living ... (EdgeProp.sg)

With effect on May 9, Additional Buyer's Stamp Duty (ABSD) of 35% will apply on any transfer of residential property into a living trust.

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Singapore Imposes Additional Property Tax on Living Trusts (Bloomberg Tax)

Singapore is imposing an additional tax on transfers of residential property to living trusts, potentially closing a loophole used by some people to avoid ...

An Additional Buyer’s Stamp Duty, or ABSD, of 35% will apply on any transfer of a residential property into a living trust effective Monday, according to a statement from the Ministry of Finance. Previously, no such additional tax was imposed if a property was transferred into a trust that had no identifiable beneficial owner. Singapore is imposing an additional tax on transfers of residential property to living trusts, potentially closing a loophole used by some people to avoid paying more duties on real estate transactions. Singapore Imposes Additional Property Tax on Living Trusts

35% additional buyer's stamp duty to apply from May 9 on transfers ... (Mothership.sg)

ABSD will be payable even if there is no identifiable beneficial owner at the time the residential property is transferred into a trust. What was the policy ...

The new ABSD is to be payable upfront, when the residential property is transferred into any living trust. The ABSD may also be payable, depending on the profile of the beneficial owner of the property transferred into the trust. ABSD will be payable even if there is no identifiable beneficial owner at the time the residential property is transferred into a trust.

MOF subjects residential properties transferred into living trust to 35 ... (Singapore Business Review)

Beneficial ownership of the residential property has vested in all of these beneficial owners at the time of property transfer into the trust; and; The ...

The refund amount to be given to trustees will be based “on the difference between the ABSD (Trust) rate of 35% and the ABSD rate corresponding to the profile of the beneficial owner with the highest applicable ABSD rate.” - Beneficial ownership of the residential property has vested in all of these beneficial owners at the time of property transfer into the trust; and Residential properties transferred into a living trust on or after 9 May will be subject to a 35% Additional Buyer’s Stamp Duty (ABSD), the Ministry of Finance (MOF) has announced.