Do I need to pay Additional Buyer's Stamp (ABSD) upfront when buying a smaller private property if I'm over 55, currently own one private property, and plan to sell it within 6 months of the new purchase?

Question

Accepted Answer

ABSD liability depends on the buyer's profile and number of residential properties owned at the point of purchase. As you currently own one private property, ABSD will be payable upfront when you purchase the second private property.

However, Single Singapore Citizens aged 55 years and above may be eligible for a refund under the ABSD Concession for Single Singapore Citizen (SC) Seniors Remission, provided all remission conditions are met.

One of the eligibility conditions for ABSD refund is that the value of the second residential property is less than the value of the first residential property sold.

Do ensure that all conditions are met before applying for a refund under this remission.

Do I need to pay Additional Buyer's Stamp (ABSD) upfront when buying a smaller private property if I'm over 55, currently own one private property, and plan to sell it within 6 months of the new purchase?

Topics:

Related questions

I am a Singapore Citizen married to an Singapore Permanent Resident. Both of us do not own any property in Singapore. If we jointly purchase our first matrimonial home, do we need to pay Additional Buyer’s Stamp Duty (ABSD)?

I 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?

I am 55 years old and own a resale HDB. If I would like to buy a new private condo, can I get an Additional Buyer's Stamp Duty (ABSD) refund if I sell my HDB flat?

As a Singapore PR marrying a Singaporean, can we get Additional Buyer's Stamp (ABSD) remission on our first jointly bought private property if we marry within 6 months of purchase?

Need more help?