Additional Buyer stamp duty SINGAPORE

2022 - 5 - 9

living trust living trust

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Image courtesy of "CNA"

Additional buyer's stamp duty of 35% to apply on any transfer of ... (CNA)

ABSD will be payable even if there is no identifiable beneficial owner at the time the residential property is transferred into a trust, MOF said in a media ...

As a concession, a trustee may apply to the Inland Revenue Authority of Singapore (IRAS) for a refund of ABSD (Trust), provided that all beneficial owners of the residential property are identifiable individuals and that beneficial ownership of the residential property has vested in all of these beneficial owners at the time of property transfer into the trust. "Where the living trust is structured such that there is no identifiable beneficial owner at the time when the residential property is transferred into the trust, ABSD currently does not apply," said MOF. ABSD may also be payable, depending on the profile of the beneficial owners of the residential property transferred into the trust.

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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.

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Image courtesy of "The Business Times"

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 ...

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Image courtesy of "EdgeProp.sg"

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

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