Singapore relaxes Seller's Stamp Duty (SSD) rates

THE Seller's Stamp Duty (SSD) for residential properties in Singapore will be relaxed, the government announced on Friday.

For sellers of residential properties that are purchased or saw a change in zoning starting March 11, the SSD rate for holding periods for up to a year will be lowered to 12 per cent from the current 16 per cent.

For holding periods between one year and up to two years, it will be lower at 8 per cent from the current 12 per cent.

For holding periods more than two years and up to three years, it will be at 4 per cent, half of the present 8 per cent.

No SSD will be payable for holding periods more than three years. At present, the SSD for holding periods for up to four years is at 4 per cent.

These changes to the SSD come as the government introduced a slew of regulatory changes on Friday, including a new stamp duty called the Additional Conveyance Duty (ACD) and a slight easing of the Total Debt Servicing Ratio (TDSR). They all take effect on March 11.