Seller of a residential property must pay Seller’s Stamp Duty (SSD) if the property was acquired (or purchased) on or after 20 Feb 2010 but before 30 Aug 2010 and disposed of (or sold) within one year from the acquisition date. Properties acquired before 20 Feb 2010 will not be subject to SSD when disposed of.

SSD will be payable on residential properties which are bought or acquired on or after 30 Aug 2010 but before 14 Jan 2011 and sold or disposed of within 3 years of acquisition.

For residential properties bought on or after 14 January 2011, (SSD rates to be levied on the full sale price will be increased to as follows:

a) SSD at 16% (higher than up to 3% currently), if the property is sold in the first year of purchase, i.e. the property is held for 1 year or less from its purchase date.
b) SSD at 12% (higher than up to 2% currently), if the property is sold in the second year of purchase, i.e. the property is held for more than 1 year and up to 2 years.
c) SSD at 8% (higher than up to 1% currently), if the property is sold in the third year of purchase, i.e. the property is held for more than 2 years and up to 3 years.
d) SSD at 4% (no SSD currently), if the property is sold in the fourth year of purchase, i.e. the property is held for more than 3 years and up to 4 years.

 

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