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Property stamp duty collection falls 15.7% to S$4.4b in first 9 months of FY2022

Meanwhile, property tax takings are up 5% year on year

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Corinne Kerk

Published Mon, Feb 6, 2023 · 05:50 AM
    • The annual value for most residential properties – as appraised by valuers in the Inland Revenue Authority of Singapore based on rental rates – will be adjusted in 2023.
    • The annual value for most residential properties – as appraised by valuers in the Inland Revenue Authority of Singapore based on rental rates – will be adjusted in 2023. PHOTO: BT FILE

    PROPERTY stamp duty collected in the first nine months of the government’s current fiscal year fell 15.7 per cent year on year, and is expected to finish FY2022 (ending March 2023) lower than in FY2021.

    Stamp duty collections for the first three quarters of FY2022 – which covers the period from April to December 2022 – stands at S$4.43 billion.

    It is down from the S$5.26 billion collected in the corresponding period in FY21, based on data from the Accountant-General’s Department available online at the Singapore Department of Statistics.

    TaxesERA RealtyOrangeTee & TieCushman & WakefieldHuttonsSingapore residential propertyResidentialResidential propertyHDBIRASSpotlight

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