Guide to Property Taxes & Stamp Duties Payable
When buying a property in Singapore, several taxes and fees may apply. In this section, we have concised the associated costs for landed property buyers from the IRAS website.
Disclaimer: The information provided herein has been extracted and summarized from the official website of the Inland Revenue Authority of Singapore (IRAS). While every effort has been made to ensure the accuracy and completeness of the content, users are advised that the information is subject to change and updates as per the latest updates on the IRAS website. The accuracy of the information is also contingent upon the reliability of the website content and the editor's extraction process. For specific legal matters or complex situations, it is recommended to seek professional legal advice. Furthermore, for detailed inquiries or clarifications regarding tax matters, users should consult directly with the IRAS.
Property taxes, Income Taxes, Goods & Services Taxes, and Stamp duties are relevant taxes payable when you are involved with property investments, transactions or conveyancing. IRAS (Inland Revenue Authority of Singapore) is the main tax administrator for the Ministry of Finance, and is responsible for administering the following Acts:
Estate Duty Act
"Estate Duty" means estate duty leviable under this Act. The Act's purpose is to ensure that taxes are collected on wealth and assets transferred due to death, thereby contributing to public revenue. For more detailed information, specific provisions, or any amendments, it's advisable to consult the actual text of the legislation or tax professionals.
✅ As of February 15, 2008, no estate duty is levied on property or assets upon death.
✅ While there is no estate duty, other taxes such as stamp duty may still apply to the transfer of property during a person's lifetime or under certain circumstances (e.g., property transactions).
Property Taxes
(Source: Nov 2024 IRAS)
Property Tax is applicable when:
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You have a legal requisition on any property.
This means that if you buy or inherit a property, you will have to start paying property taxes too.
In a nut shell, property taxes are divided into 3 types:
Owner-Occupied Residential Properties is applicable when:
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You are residing in the property.
Non-owner-Occupied Residential Properties is applicable when:
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You are NOT residing in the property.
Commercial and industrial properties tax at flat 10% of Annual Value is only applicable when:
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You own a non-residential property.
So, with the tables above provided, how are property taxes calculated?
The Annual Value (AV) of buildings is the estimated gross annual rent of the property if it were to be rented out, excluding furniture, furnishings and maintenance fees. It is determined based on estimated market rentals of similar or comparable properties and not on the actual rental income received.
So if you are a Singaporean buying your first landed property solely for residential purposes, let's say at $120k AV ($10k/mth), you'll likely have to pay $13,820 owner-occupied property tax based on the 2025 table rate. However, if you are calculating AV for a vacant land or land under construction, it will be determined at 5% of the estimated freehold market value.
You may use the IRAS Property Tax Calculator to calculate your property taxes.
Read More on the IRAS website.
Stamp Duties
Stamp duties are the most significant tax payable when purchasing property in Singapore and it is levied on the purchase price or the market value of the property, whichever is higher.
Buyer's Stamp Duty (BSD)
is applicable when:
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You are buying any property in Singapore, both residential and non-residential.
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There is conveyance.
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You are transferred a property (gifted, upon death).
Remissions of BSD:
Acquisition of residential land (i.e. vacant land or entire building with land zoned “Residential”, “Residential/ Institution”, “White”, “Commercial & Residential” or “Residential with Commercial at 1st storey”) may qualify for upfront BSD remission (by way of the difference of the BSD rates for residential and non-residential properties) if the remission conditions are met.
Additional Buyer's Stamp Duty (ABSD)
is only applicable when:
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You are buying a residential property.
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You are a Singaporean Citizen buying your beyond your first property.
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You are buying as a Singapore Permanent Resident.
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You are buying as a foreigner.
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You are buying as an entity.
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You are buying as a developer.
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You are buying on trust.
(Total 40%)
Read more on housing developers here.
Remissions of ABSD:
Remission of ABSD (Trust) may be provided via a refund where the conveyance, assignment or transfer on sale of residential property to a person i.e. trustee, is held on trust for one or more identifiable individual beneficiaries only (whether or not the conveyance, transfer or assignment is also made to another person). Developers may apply for remission on the ABSD rate of 35%.
Full ABSD remission may be applicable to a married couple who purchases a residential property jointly. The couple must include a Singapore Citizen (SC) spouse and the property must be purchased under both names of the couple only. In addition, both the spouses must not own any residential property & the first residential property (co-owned or separately owned) is sold within 6 months after.
Seller's Stamp Duty
is applicable when:
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You are selling your private property within 3 years of purchase.
Seller's Stamp Duty (SSD) for Residential Property
Lease Stamp Duty
is applicable when:
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You are renting out.
-
There is a Lease or Tenancy agreement.
*Please note that licence agreements are not subject to stamp duty.
Examples
Mortgage Duty
is applicable when:
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You mortgage your property by transferring your interest in your property to the lender to secure the payment or repayment of money.
Rental Income Taxes
Any rent payments you receive when you rent out your property are subject to income tax and must be declared in your Income Tax Return.
Property Traders
Gains from the sale of a property, shares and financial instruments in Singapore are generally not taxable. However, gains from "trading in properties" may be taxable.
The gains may be taxable if you buy and sell property with a profit-seeking motive or deemed to be trading in properties.
Some criteria used to assess if you are trading in properties are as follows:
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Frequency of transactions (buying and selling of properties);
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Reasons for buying and selling of property;
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Financial means to hold the property for long term; and
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Holding period
Goods & Services Taxes
The sale and lease of properties in Singapore are subject to GST except for residential properties. GST is also chargeable on the supply of movable furniture and fittings in both residential and non-residential properties. Real estate agents must charge GST on the brokerage fees received from the real estate agencies.
The commissions received for the brokering services provided are also subject to GST. This is regardless of whether the property is residential or non-residential.
