Rent Property - Stamp Fees / Stamp Duty Payable
What is Stamp Duty?
Stamp duty is a tax on commercial and legal documents which record and give effect to certain transactions. It is not a tax on transactions. Hence, even if the transaction has been aborted, stamp duty is still payable on the document.
How much do I have to pay for Stamp Duty?
| Lease: |
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| Contractual Rent or Market Rent, whichever is higher |
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(a) Where Average Annual Rent and Other Consideration calculated for a whole year does not exceed $1,000
(b) Where Average Annual Rent and Other Consideration calculated for a whole year exceed $1,000 |
Exemption [Section 25(3)] |
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Lease term not exceeding 1 year
- Every $250 or part thereof of annual rent
Lease term exceeding 1 year but not exceeding 3 years
- Every $250 or part thereof of annual rent
Lease term exceeding 3 years or any indefinite term
- Every $250 or part thereof of annual rent |
$1.00
$2.00
$4.00
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| For example: |
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| Rental per month |
= S$2,000 |
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| Stamp Duty |
= [(Annual Rental) / every S$250] X 2
= [(S$24,000) / S$250] x 2
= S$192 + S$2 (Duplicate Copy)
=S$194 |
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Who pays the Stamp Duty?
The Tenant pays for it. |
Residential rent : Stamp Duty / Stamp Fees