SSD is payable on all residential properties and residential lands that are acquired on or after 20 Feb 2010 and disposed of within the holding period. Whether the disposal is subject to SSD and the amount payable will depend on: The property is a residential property. In most instances, the date of purchase/ acquisition of a property refers to: *Excludes an option to Purchase that is subject to the execution/ signing of the Sale and Purchase Agreement 1. Date of the Marriage (that has ended); or 2. Date the interest was acquired by the transferor prior to the transfer; whichever is later. Date the interest was acquired by the deceased Earliest date of acquisition of the flat by any of the existing owners, and who continually holds an interest in the flat from the time of acquisition to disposal C. The Date of Sale or DisposalIn most instances, the date of sale/ disposal of a property refers to:
*Excludes an option to Purchase that is subject to the execution/ signing of the Sale and Purchase Agreement D. Rates ApplicableThe rates of SSD payable on residential property acquired on and after 20 Feb 2010 and disposed of within certain duration, are summarized in the table below:
SSD payable to be rounded down to the nearest dollar. Rates and ComputationSSD is computed by applying the requisite SSD rate on the higher of the selling price or the market value of the residential property as at the date of sale or disposal. Where parts of the residential property were acquired by the vendor at different times, the holding period for each part acquired will be computed from the respective acquisition date. Where the sale or disposal comprises only a partial interest in the residential property, SSD payable will be based on the higher of the selling price or market value of the partial interest. Exemptions from SSD for Residential Properties under the Stamp Duties ActSSD for residential properties is exempt for sellers / transferors under the following scenarios. No application to Commissioner of Stamp Duties is required for the sellers / transferors.
Remission of SSD for Residential Properties under the Remission RulesNon-licensed developers may be eligible for remission of SSD when selling residential properties developed by them only if they are registered companies or businesses, and are lawfully carrying on the business of housing development. You can e-Stamp via the e-Stamping portal to obtain the remission certificate. Administration
FAQs
When do I need to pay SSD and can the payment be deferred?SSD must be paid within 14 days from the date of the executed sale contract, otherwise, a penalty will be imposed for late stamping and payment. There is no deferment of stamp duty payment. However, for properties undergoing collective sale, requests may be considered favorably for the waiver of the penalty incurred up to the later of the following dates, whichever is applicable: (1) Date that the Strata Titles Board grants the Collective Sale Order; (2) 30 days from the date of decision made by the High Court with no further objection; or (3) Date of decision made by the Court of Appeal. Such requests are subject to the following conditions: (1) The collective sale contract is stamped and (2) The waiver request is submitted to the Commissioner of Stamp Duties where both conditions are fulfilled within 14 days from the date of the executed contract. To submit the request for waiver, please perform the following steps: (1) Log on to e-Stamping Portal (2) Select "Requests" (3) Select "Apply for Assessment/ Appeal/ Remission" (4) Provide the document reference number which was generated upon stamping (5) Select "E-appeal" as the nature of request. Please be informed that requests to waive penalties incurred up to the date that the collective sale is legally completed or the date that you receive the sale proceeds will not be acceded to. |