BSD and ABSD explained with examples
Singapore charges two stamp duties when you buy residential property. They are often confused, so here is how each works.
BSD: Buyer's Stamp Duty
Everyone pays BSD. It is charged in slices, like income tax: the first S$180,000 at 1%, the next S$180,000 at 2%, the next S$640,000 at 3%, the next S$500,000 at 4%, the next S$1,500,000 at 5%, and anything above S$3,000,000 at 6%. It is calculated on the higher of the price and the market value.
Example, S$1,500,000: S$1,800 + S$3,600 + S$19,200 + S$20,000 = S$44,600.
ABSD: Additional Buyer's Stamp Duty
ABSD applies on top of BSD and depends on who you are and how many homes you own. For example, a Singapore citizen pays nothing on a first home, 20% on a second and 30% on a third or more. Permanent residents, foreigners and companies pay higher rates.
Example: a citizen buying a second property at S$1,500,000 pays BSD of S$44,600 plus ABSD of S$300,000.
Joint purchases
When buying with someone else, the higher ABSD rate of the buyers generally applies. Check this before you add a co-owner.
Exceptions
Some situations allow remission or refund, such as certain married couples. These have conditions and deadlines, so confirm on the IRAS website.
The free PropFlow calculator works out BSD and ABSD from your price, residency and number of properties.
Try it now: PropFlow or open the free calculator.
General information only, not financial or legal advice. Confirm current rates on IRAS before you decide.