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What is a Settlement?
A Settlement refers to a written non-testamentary disposition of property or shares.
For example, a father may set up a trust fund for his child’s education and transfer properties or shares to the trustee of the fund. The Deed of Settlement is subject to stamp duty if properties and shares are involved.
Documents relating to a settlement (involving properties and / or shares) need to be sent in to Commissioner of Stamp Duties for adjudication. You may submit your application together with the supporting documents via the following ways:
| By Post |
By Fax |
By Email |
Commissioner of Stamp Duties
55 Newton Road
Revenue House
Singapore 307987 |
6351 3694
|
estamp@iras.gov.sg
|
Besides stamp duty, you will need to pay the adjudication and valuation fees, even if you decide not to proceed with the intended transaction.
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What are the stamp duty rates?
Stamp Duty Rates
The stamp duty payable will depend on the value of the property or shares involved in the settlement.
Full Duty
Full duty rates will be imposed if the asset is property or shares.
The stamp duty rate relating to property is as follows: -
Conveyance
|
Duty
|
Based on the Market Value of the property as at the date of execution / signing of the document
|
- Every $100 or part thereof of the first $180,000
|
$1.00
|
- Every $100 or part thereof of the next $180,000
|
$2.00
|
- Thereafter, every $100 or part thereof
|
$3.00
|
The stamp duty rate relating to shares is as follows:
| Document executed effecting a settlement or agreement for a settlement relating to shares |
Value of Shares Transferred
- Every $100 or part thereof
|
$0.20 |
In situations where an agreement for settlement and settlement deed are executed for the same transaction (involving property or shares), the stamp duty rates are as follows:
| Where both an agreement for settlement and settlement deed are executed for the same transaction (involving property or shares) |
Duty |
| Agreement for Settlement |
Full Duty (as stated in the tables above depending on the asset settled). |
| Settlement Deed |
$2 or the same duty payable on the agreement executed before 19 February 2011, whichever is lesser.
Duty is removed for document executed on and after 19 February 2011.
|
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