Stamp Duty for Lease

Posted on 22 Feb 2014 | Comments Off on Stamp Duty for Lease

With effect from 22 Feb 2014
To ensure consistency in stamp duty treatment across leases of different lease periods, the basic of calculation has been changed.

  • Lease with Average Annual Rent (AAR) below S$1000 : exempted (same as the past)
  • Lease period of 4 years or less : 0.4% of total rent for the period of the lease
  • Lease period of more than 4 years or for any indefinite term : 0.4% of 4 times the AAR for the period of the lease.

In another words, stamping fee is capped at maximum of 4 years and calculate by 0.4% of the total monthly rent.

Example 1:
Monthly Rental : $1000
Lease term :

  • 6 months – $1000 x 6 x 0.4% = $24
  • 12 months – $1000 x 12 x 0.4% = $48
  • 60 months (capped at 4 years = 48 months) – $1000 x 48 x 0.4% = $192

Example 2:
Monthly rental: $3000
Lease period: 9 months
Stamp duty payable – $3000 x 9 x 0.4% = $108
Previously stamp duty payable was $144

Example 3:
Monthly rental: $3000
Lease period: 3 years
Stamp duty payable = $3000 x 36 x 0.4% = $432
Previously stamp duty payable was $288

Please log in to IRAS website to check on the illustration table or download the Excel format of stamping duty calculator.

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Golf course land to be redeveloped

Posted on 17 Feb 2014 | Comments Off on Golf course land to be redeveloped

The government will not renew the land lease of Keppel Club and will acquire parts of the fairways at the National Service Resort and Country Club and Tanah Merah Country Club by end-2014, according to media reports.

The move will free up about 200ha of land for other uses.

The land occupied by Keppel Club has been earmarked for housing developments – as first announced in the 2001 Concept Plan by the Urban Redevelopment Authority (URA) – while the other two will be affected by Changi Airport’s expansion.

In addition, one of the golf courses of Singapore Island Country Club (SICC) will be made public once its lease ends in 2021 to replace the 18-hole course at Marina Bay Golf Course.

With its lease expiring in 2024, the Marina Bay course will eventually be redeveloped for commercial and residential purposes.

SICC had the option of giving up the Island location near Upper and Lower Pierce Reservoir, or the Bukit location next to MacRitchie Reservoir.

Meanwhile, all clubs, except Keppel Club, with less than 10 years left on their leases have been given an extension till between 2030 and 2040.

Source : PropertyGuru – 17 Feb 2014

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