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Budget 2023: Singapore to raise Buyer’s Stamp Duty for property purchases from Feb 15
SINGAPORE will introduce a higher marginal Buyer’s Stamp Duty (BSD) for higher-value residential and non-residential properties, Finance Minister Lawrence Wong said in his Budget speech on Tuesday (Feb 14). It will apply to all purchases as well as receipts of properties as gifts in Singapore.
- S$1 billion top-up to Singapore Global Enterprises initiative; S$150 million for SME co-investments
- Progressive Wage Credit Scheme to get S$2.4 billion top-up
- S$4 billion top-up for National Productivity Fund
- Singapore to implement Pillar 2 of BEPS 2.0 tax recommendations from 2025
- Higher marginal ARF rates for cars with OMV of more than S$40,000
- First-time homebuyers to get up to S$30k in increased CPF housing grants, additional BTO ballot
- CPF monthly salary ceiling raised to S$8,000 by 2026; senior worker contribution rate to rise
- S$300 million top-up to ComCare Endowment Fund to help needy families
- More cash and support measures to cushion impact of GST hike
- Singaporeans to receive up to S$200 more in GST vouchers in 2023
Corporate Earnings
- Far East Hospitality Trust H2 DPS rises 13.1% to S$0.0173 as operational performance improves
- Elite Commercial Reit posts 19.6% lower DPU for H2 on vacant investment properties
- NetLink’s 9-month profit after tax rises 24.2%
- Sats’ acquisition target WFS posts 58.7 million euros in adjusted Ebitda for Q4
The STI today
Singapore shares buck regional gains on Tuesday; STI down 0.2%
SINGAPORE shares fell marginally on Tuesday (Feb 14) as traders stayed on the sidelines, anxiously awaiting key US inflation data for more clues on rate movements in the world’s largest economy.
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