Singapore Budget 2018: Top marginal buyer's stamp duty for residential properties up to 4% from 3%

THE government will raise the top marginal buyer's stamp duty rates for residential properties from 3 per cent to 4 per cent, Finance Minister Heng Swee Keat said on Monday.

The new top marginal rate of 4 per cent will apply to a portion of residential property value which is more than S$1 million. The change will apply to all residential properties acquired from tomorrow.

The move is meant to ensure that Singapore's tax system is more progressive, said Mr Heng.

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