Following the announcement in Budget 2011, most instruments that are liable to fixed or nominal duties that are executed on or after 19 Feb 2011 will no longer be chargeable with such duties.
Instruments that are liable to fixed or nominal duties that are executed before 19 Feb 2011 will continue to be chargeable.
Instruments that are no longer liable to fixed or nominal duties are listed below.
Before reading the list of instruments, please see the
Fixed Duty Instruments
Relating to
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Examples of Instruments (Documents)
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Reference to Stamp Duties Act
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| Lease not otherwise specially charged with ad valorem duty |
- Novation of lease involving an incoming tenant and outgoing tenant where no consideration is paid.
- Assignment of lease involving an incoming landlord and outgoing landlord where no consideration is paid.
- Variation of lease or Supplemental Lease for reduction in rent or lease term.
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Article 8(e) of First Schedule
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Transfer of property to / from trustees where beneficiary owner remains the same
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- Transfer of existing property held by current trustees to a new trustee.
- Transfer of existing property held by one retiring trustee to the continuing trustees.
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Article 3(f) of First Schedule
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- Transfer of existing property held by a trustee to another trustee.
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Article 3(g)(ii) of First Schedule
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| Transfer of property not otherwise specially charged with ad valorem duty |
- Transfer of property by way of assent to the beneficiaries in accordance to the Will, Intestate Succession Act or Muslim Law of Inheritance.
- Transfer of property pursuant to universal succession.
- Transfer of property from trustee to beneficial owners or vice versa where there is no change in the beneficial ownership.
- Transfer of property in consideration of marriage, subject to the fulfillment of conditions stated in Section 16(3A) of the Stamp Duties Act.
- Disclaimer
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Article 3(i) of First Schedule
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| Partition of immovable property where each owner does not receive any excess benefit |
- Deed of Partition or Court Order for original co-owners of an immovable property to receive the same amount shares in the property before and after partition.
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Article 10 of First Schedule
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| Surrender of lease |
- Deed of Surrender where the tenant does not make any payment to the landlord for the premature termination of the lease.
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Article 12(b) of First Schedule
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Nominal Duty Instruments
Relating to
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Examples of Instruments (Documents)
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Reference to Stamp Duties Act
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| Duplicate or counterpart |
Please refer to the definitions under Glossary. |
Section 12 and Article 5 of First Schedule
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| Lease executed in pursuance of an agreement |
- Lease instrument that is executed after an Acceptance to Letter of Offer or an Agreement for Lease (where ad valorem duty has been paid).
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Article 8(d) of First Schedule |
| Transfer of property following an assignment, contract or agreement |
- Sub-sale Deed of Assignment between the original purchaser and the sub-purchaser, where ad valorem duty has been paid on the earlier executed Acceptance to Option to Purchase.
- Transfer instrument executed after the Sale and Purchase Agreement or the Acceptance to Option to Purchase (where ad valorem duty has been paid).
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Sections 22(3), 22A(10) and (10A) |
| Subsequent contract or agreement effecting the same sale of the same property |
- Fresh Sale and Purchase Agreement between the developer and sub-purchaser.
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Sections 22(5), 22A(10) and (10A) |
| Transfer of property following a foreclosure order |
- Transfer instrument executed after the decree or Court order (where ad valorem duty has been paid).
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Section 18(3) |
| Mortgage instrument executed in pursuance of an agreement |
- Mortgage instrument executed after a Deed of Assignment (where ad valorem duty has been paid).
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Article 9(d) of First Schedule |
| Subsequent instrument executed in conjunction with a security which is duly stamped |
- Instrument effecting additional security for the same loan.
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Article 9(e) of First Schedule |
| Settlement executed in pursuance of an agreement |
- Deed of Settlement executed after an Agreement for Settlement (where ad valorem duty has been paid).
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Article 11(b) of First Schedule |
| Transfer of registered stock or marketable security intended as a security following an instrument executed under hand |
- Transfer for Share instrument that is executed after a Memorandum of Charge of shares signed under hand.
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Section 30(3) |
The removal of the fixed duties would not apply to Declarations of Trust where there is no change in beneficial interest. It remains chargeable under Article 4 of the First Schedule to the Stamp Duties Act at $10.
For more details, please refer to our e-Tax Guide on Stamp Duty : Removal of Fixed and Nominal Duties (Second Edition) (116 KB).
Glossary
- Fixed duties mean duties imposed on instruments that are fixed in amount and do not vary according to the amount or value of the consideration paid or with the content of the instrument.
- Nominal duties mean duties imposed on instruments that are of a nominal sum of up to $10 and where 2 or more instruments are executed to effect the same transaction.
- Property refers to immovable property and stock or shares.
- Ad valorem duty means a duty based on the amount or value of consideration paid.
- Disclaimer means a document or act whereby a person refuses to accept an interest which is attempted to be transferred to him / her, or refuses to take an entitlement under a Will or Law of Intestacy or Muslim Law of Inheritance.
- Duplicate means another original set of the same instrument.
- Counterpart is one of the several contracts of which the contents are the same and is signed by each contractual party in different sets of that same contract, particularly if the contractual parties are in different localities.
- Settlement of property (broadly also known as trust) is where the property is given by the settlor into a trust for the beneficiaries in such manner as prescribed under the settlement.
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