Should capital gains tax replace seller’s stamp duty on homes?
Taxing profitable property transactions would be a more equitable way to curb speculation
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[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.
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