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Paying ABSD
When to pay ABSD?
How much is ABSD?
ABSD is imposed depending on your citizenship and property count.
| Category | 1st | 2nd | 3rd and more |
|---|---|---|---|
| SC | 0% | 20% | 30% |
| PR | 5% | 30% | 35% |
- Married couple can refund when sold 1st property within 6 months
- SC + PR/FR 1st matrimonial home can refund
For foreigners and business entity, it doesn’t matter how many property they already own, since it is hefty.
| Category | |
|---|---|
| Foreigners | 60% |
| Entity/Trust | 65% |
NOTE: Foreigners from Switzerland, Norway, America/USA, Iceland & Liechtenstein (SNAIL) will be treated as SC, due to Free Trade Agreements – that is they don’t need pay ABSD!
What to pay?
BSD and ABSD must be paid within 14 days after exercising your OTP.
Where the Contract or Agreement is executed (signed) overseas, BSD and ABSD must be paid within 30 days after the receipt of the Contract or Agreement in Singapore.
Audit checks will be conducted by IRAS. Failure to do so, you will have to pay a penalty of 4 times the amount of unpaid duty.
Can use CPF?
Yes, however you need to pay in cash first.
You should apply for the one-time reimbursement of stamp duty on/or before the date of the legal completion. This is to use any accumulated CPF since you paid in cash.