19 January 2012
The second edition of the e-Tax Guide, “Additional Buyer’s Stamp Duty (ABSD) on Purchase of Residential Properties”, have been published by IRAS on 12 January 2012.
The changes to the revised edition relate to paragraphs:
- 2.2(a) – ‘Affected buyers: Foreigners and non-individuals’ where the wording ‘companies, partnership and societies’ have been replaced with ‘and non-individuals’.
- 2.4 – Effective date of implementation of ABSD
- 3.4 – New information on properties excluded from count of properties gazetted for compulsory acquisition
- 7 – New information on transfer of partial interest amongst co-owners
- 10.3 – Additional information on Free Trade Agreements
- 10.4 – Additional information on developer’s eligibility for ABSD remission for development sites with 5 or more residential units
- 10.5 – Additional information on development sites with 4 or less units
- 10.6 – New paragraph on purchase of land by developer for development by a related entity
- 10.7 – New paragraph on amalgamation of land for development by developers
- 10.8 – Treatment for purchase of properties during the transitional period
- 11.3 – ABSD Declaration Form
- Frequently Asked Questions
- Annexes – Annex B – Replaced with ‘Letter of Undertaking – Remission of ABSD for Residential Land (With 5 or More Residential Units)’, New Annex C – Letter of Undertaking – Remission of ABSD for Residential Land (With 4 or Less Residential Units) and Annex D – ABSD Declaration Form.
For the full e-Tax Guide, please click here.
More details on the ABSD can be found here.
Source: This article was extracted from the Inland Revenue Authority of Singapore (IRAS) website.