The Singapore Buyer's Stamp Duty (BSD) is a tax imposed on buyers for purchasing residential properties in Singapore. It is payable to the Inland Revenue Authority of Singapore (IRAS) within 14 days from the date of the property's purchase or acquisition.
The BSD rates vary depending on the buyer's residency status and the number of properties they already own in Singapore. As of my knowledge cutoff in September 2021, the BSD rates for residential properties are as follows:
For Singapore Citizens (SCs) and Permanent Residents (PRs):
Buyer Stamp Duty calculation ( BSD )
The Buyer Stamp Duty ( BSD ) is 3% for property below $1million and 4% for above $1Million.
Calculation for property below $1Million:
$1,000,000 x 3% -$5400 = $24,600
Calculation for property above $1Million:
$1,500,000 x 4% -$15,400 = $44,600
It's important to note that the rates and regulations may change over time, so it's advisable to check with the IRAS or consult a professional for the most up-to-date information on the Buyer's Stamp Duty in Singapore.