Should capital gains tax replace seller’s stamp duty on homes?

[SINGAPORE] Strong guard rails are in place to help ensure a stable housing market in Singapore. This includes levying seller’s stamp duty (SSD) on transactions of homes which are sold within a specified holding period.

SSD of 1 per cent for the first S$180,000, 2 per cent on the next S$180,000 and 3 per cent on the remainder was applicable to the sale of homes with a holding period of under one year when the duty was first introduced in February 2010.

Today, SSD rates are much higher, and the holding period before a seller can sell a home without attracting SSD is much longer.