in
My wife and I are Singapore Citizen and we jointly own an apartment. We intend to jointly purchase a terrace house that is under construction. Do we need to pay Additional Buyer’s Stamp Duty (ABSD)?
iras
ABSD is determined based on the buyer's profile and the number of residential properties owned at the time of purchase.
Since the terrace house will be your second residential property, you will need to pay ABSD at the applicable rate.
However, if you sell your apartment within 6 months from the date of TOP/CSC (whichever is earlier) of the terrace house, you might be eligible for an ABSD refund under the ABSD Remission for a Married Couple.
Let other citizens know if this answer was helpful
Did this answer your question?Related Questions
I am a Singapore Citizen currently owning only one private apartment. I am considering selling it and buying a terrace house. Do I have to pay Additional Buyer's Stamp Duty (ABSD) when I buy the terrace house?
from IRASMy wife and I are SC and we jointly own an apartment. We intend to jointly purchase a terrace house that is under construction. Do we need to pay Additional Buyer's Stamp Duty (ABSD)?
from IRASI am a Singapore Citizen married to a Singapore Permanent Resident. We jointly own a private apartment. If we buy another completed house jointly, what is the Additional Buyer’s Stamp Duty (ABSD) payable by us?
from IRASI'm a Singaporean, intending to jointly purchase a condo with my husband who is a US Citizen.
from IRAS
Can’t find what you’re looking for?