18 Oct '15, 1pm

Do you know that if you sell your property too early, you may need to pay a Seller's Stamp Duty of up to 16%?...

Do you know that if you sell your property too early, you may need to pay a Seller's Stamp Duty of up to 16%?...

If you buy a residential property (HDB, condo or landed) and sell it within 4 years, you will need to pay a tax called Seller’s Stamp Duty , or SSD in short. This SSD policy went into effect in 20 Feb 2010 and has been amended twice. If you bought your property on or after 14 Jan 2011, the most recent SSD rules will apply to you: 16% if you sell within 1 year 12% if you sell after 1 year but before 2 years are up 8% if you sell after 2 years but before 3 years are up 4% if you sell after 3 years but before 4 years are up No SSD if you sell after 4 years. If you bought your property between 30 Aug 2010 and 13 Jan 2011 inclusive, these more complicated SSD rules will apply to you: If you sell within 1 year, 1% on first $180k, 2% on next $180k and 3% on remainder If you sell after 1 year but before 2 years are up, 0.67% on first $180k, 1.33% on next $180k and 2% on remainder ...

Full article: http://www.salary.sg/2015/sellers-stamp-duty-ssd/

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