The following notification/ rules were published in the Government Gazette, electronic edition, on 5 July 2018 and came into operation on 6 July 2018:
Stamp Duties Act (Amendment of First Schedule) (No. 2) Notification 2018 (S 452/2018)
It amends the First Schedule to the Stamp Duties Act. The additional buyer’s stamp duty (ABSD) rates have been increased for sales of residential properties executed on or after 6 July 2018.
Stamp Duties (Instruments on or before 5 July 2018) (Remission) Rules 2018 (S 453/2018)
They provide for the remission of ABSD on:
- any contract or agreement for the sale of residential property to a purchaser that is executed on or after 6 July 2018 and is conditional on the exercise of an antecedent option granted on or before 5 July 2018, and
- any conveyance or transfer of that property to the purchaser that is executed on or after 6 July 2018.
Stamp Duties (Transfer of Interest in Property which Buyer has Interest) (Remission of ABSD) (Amendment) Rules 2018 (S 454/2018)
They amend r 2, 3 and 4 to the Stamp Duties (Transfer of Interest in Property which Buyer has Interest) (Remission of ABSD) Rules 2013 (S 216/2013) and insert new r 6. The prescribed amount of ABSD to be remitted under the Stamp Duties (Transfer of Interest in Property which Buyer has Interest) (Remission of ABSD) Rules 2013 has been increased for instruments executed on or after 6 July 2018.
Stamp Duties (Housing Developers) (Remission of ABSD) (Amendment) Rules 2018 (S 455/2018)
They amend r 3 to the Stamp Duties (Housing Developers) (Remission of ABSD) Rules 2013 (S 362/2013). They provide for the prescribed amount of ABSD to be remitted under the Stamp Duties (Housing Developers) (Remission of ABSD) Rules 2013 for:
- instruments executed before 6 July 2018
- instruments mentioned in r 3(1) of the Stamp Duties (Instruments on or before 5 July 2018) (Remission) Rules 2018 (S 453/2018), and
- instruments executed on or after 6 July 2018.
Stamp Duties (Non-Licensed Housing Developers) (Remission of ABSD) (Amendment) Rules 2018 (S 456/2018)
They amend r 3 and 4 to the Stamp Duties (Non-Licensed Housing Developers) (Remission of ABSD) Rules 2015 (S 764/2015). They provide for the prescribed amount of ABSD to be remitted under the Stamp Duties (Non-Licensed Housing Developers) (Remission of ABSD) Rules 2015 for:
- instruments executed before 6 July 2018
- instruments mentioned in r 3(1) of the Stamp Duties (Instruments on or before 5 July 2018) (Remission) Rules 2018 (S 453/2018), and
- instruments executed on or after 6 July 2018.
Source: IRAS, 10 July 2018