Inland Revenue Authority of Singapore (“IRAS”) informed that there had been instances of wrong advice given by salespersons to buyers. Some salespersons had advised their buyers that they could qualify for ABSD remission if the buyer is a Singapore Citizen (“SC”) who is married and is purchasing a second residential property in his sole name.
IRAS clarified that the above is not true. For a Singaporean married couple (defined as a married couple with at least one party being a SC) who purchase a second residential property jointly, the couple could qualify for ABSD remission only if certain conditions are met.
Please refer to the briefing slides attached for the detailed criteria.
Additional Buyer’s Stamp Duty (ABSD) for Married Couples – IRAS
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