Stamp Duty
Sunday, 11 April 2010 13:47
Written by Admin
Purchase A Property Under Construction
Properties under construction are referred to properties, which have not been issued with the Temporary Occupation Permit (TOP) or Certificate of Statutory Completion (CSC).
You are required to pay stamp duty on the Acceptance Letter to the Option to Purchase or Sale and Purchase Agreement that you have executed (signed) for a purchase of a property under construction. All documents have to be stamped within 14 days after the date of execution of the agreement.
Exception
For purchase of property (execution of document) between 30 Jun 1998 till 14 Dec 2006, stamp duty payable on the Acceptance Letter to the Option to Purchase / Sale and Purchase Agreement may be deferred within 14 days after the date the TOP is issued, or within 14 days after the purchaser contracts to sell his interest in the property, whichever comes earlier.
For more information on Stamp Duty, please visit Inland Revenue Authority of Singapore.