Property stamp duty collection jumps 73% to S$6.8b; corporate, personal tax payments rise above pre-Covid levels
A RED-HOT property market fuelled a 73.6 per cent surge in stamp duties collected in Singapore’s financial year ended March 2022, although it slipped year-on-year in the first 3 months of 2022.
Stamp duty collections for FY21, which covers the period from April 2021 to March 2022, hit S$6.76 billion, from the S$3.9 billion collected in the corresponding period in FY20. It is also 61.1 per cent higher than the S$4.2 billion in FY19, prior to the start of the pandemic, based on data from the Accountant-General's Department, available online at the Singapore Department of Statistics.
According to Huttons’ senior director of research, Lee Sze Teck, the total number of properties transacted in FY21 amounted to 63,914, 19.9 per cent higher than the year-ago period.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
Airbnb promises to combat sex work in rentals during Paris Olympics
Hong Kong property deals hit three-year high in April
More homes planned in Media Circle to support housing demand
Qatari Sheikh sells London mansion to fellow royal for £39 million
Toronto home sales fall for third month in April; prices rise
Far East Shopping Centre owners in private talks after close of S$928 million en bloc tender