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Do I need to pay Stamp Duty for a novation agreement where all the terms and conditions remain the same except for a new tenant?

Updated by IRAS

If there is no change in the rent and lease period nor any premium or consideration paid for the novation of lease under the Novation Agreement, there is no Stamp Duty payable. 

 

However, if there is any consideration paid under the Novation Agreement, Stamp Duty is payable and is computed on the consideration based on conveyance (BSD) rates.

Topics:

Stamp DutyLease Duty

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