BSD is tax paid on documents signed when you buy or acquire property located in Singapore.

Manner of acquisitions

Examples of property acquisition in which ad valorem stamp duty (i.e. BSD, ABSD and SSD, whichever applicable) is payable:  

  1. By way of purchase e.g. acceptance to option to purchase, sale and purchase agreement
  2. By way of gift including a voluntary declaration of trust and settlement
    • Declaration of Trust / Trust Deed:
      • A fixed duty of $10 is payable on the Declaration of Trust/Trust deed which does not result in a change in beneficial interest in the property. 
      • Where there is a change in beneficial interest in the property, ad valorem stamp duty will be payable on the Declaration of Trust / Trust Deed.
  3. By way of distribution in specie upon the winding up of a company*
  4. By way of distribution from the estate of a deceased that is not in accordance with the Will, Intestate Succession Act or Muslim Law of Inheritance.
  5. By way of resulting trust pursuant to a renunciation of interest in residential property held under a bare trust

*ABSD is applicable on transfer of interest in a residential property on or after 13 Oct 2023 which is distributed in specie to a shareholder of a company in connection with a liquidation of the company.

Renunciation of interest in trust over residential property by beneficial owner (Section 22C)

Where any beneficiary renounces his interest in a residential property that is transferred to be held on bare trust on or after 10 May 2022, the settlor will need to pay stamp duty i.e. BSD and ABSD on the transfer of the share of the residential property back to him, under Section 22C of the Stamp Duties Act. 

You can refer to Renunciation of Interest in Trust over residential property by Beneficial Owner (Section 22C) for more information.

Example: A settlor sets up a trust where a residential property is held on bare trust for a sole identifiable beneficiary. The beneficiary later renounces his interest in the property, and a resulting trust is formed in favour of the settlor. The settlor is required to pay BSD and ABSD (based on the settlor’s profile) on the transfer of the residential property back to him. 

Requirement to pay BSD

You are required to pay BSD for documents executed for the transfer or sale and purchase of property located in Singapore. BSD will be computed on the purchase price as stated in the document to be stamped or market value of the property (whichever is the higher amount).

If there is a benefit associated with the acquisition, and the benefit is stated in the document to be stamped and is a cash discount (i.e. cash, non-post dated cashier's order or cheque) to be given to the purchaser upon execution of the document (and not later), the amount of discount may be deducted from the purchase price to determine the consideration for stamp duty purpose. This is provided that the nett price is still reflective of market value. 

If the document to be stamped stated a non-cash benefit to be given (e.g. furniture voucher, rental guarantee, car or lucky draw), the value of benefit is not deductible from the purchase price for stamp duty purpose.  

If the cash or non- cash benefit is not stated in the document to be stamped, the value of the benefit is also not deductible from the purchase price for stamp duty purpose.

The first instrument executed relating to a sale and purchase is liable to ad valorem duty (i.e. full duty). Subsequent document(s) relating to the same sale transaction are not liable to stamp duty.

Acquisition of property through an en-bloc purchase or “block” purchase

Where multiple properties are acquired collectively, stamp duty will be calculated on the total purchase price of the multiple properties if:

  1. There is a single contract for the purchase of the multiple properties; or
  2. The purchases of the multiple properties are dependent and conditional on one another.

Stamp duty on a single contract for multiple properties

Where there is a single contract for the purchase of multiple properties followed by individual documents for the purchase of each property, the single contract should be stamped at ad valorem duty based on the total purchase price.

Stamp duty on multiple documents

Where there are multiple documents (with purchases which are dependent and conditional on one another), only one of the documents is required to be stamped at ad valorem duty, based on the total purchase price of all the related properties.

Rates and computation

BSD is computed based on the purchase price or market value of the property, whichever is higher.

Prior to 20 Feb 2018, the BSD rate was up to 3%. With effect from 20 Feb 2018, there are differentiated BSD rates between residential and non-residential properties. The BSD rate for acquisition of residential properties from 20 Feb 2018 to 14 Feb 2023 is up to 4%. From 15 Feb 2023, the top marginal rate for residential properties is 6%, and the top marginal rate for non-residential properties is 5%.

For definition of residential or non-residential properties, click here.

The BSD rates are as follows:

On or after 15 Feb 2023
Purchase price or market value of the propertyBSD rates for residential propertiesBSD rates for non-residential properties
First $180,0001%1%
Next $180,0002%2%
Next $640,0003%3%
Next $500,0004%4%
Next $1,500,0005%5%
Remaining amount6%
BSD is rounded down to the nearest dollar, subject to a minimum duty of $1.
From 20 Feb 2018 to 14 Feb 2023
Purchase price or market value of the propertyBSD rates for residential propertiesBSD rates for non-residential properties
First $180,0001%1%
Next $180,0002%2%
Next $640,0003%

 

3%

Remaining amount4%
BSD is rounded down to the nearest dollar, subject to a minimum duty of $1.
Before 20 Feb 2018
Purchase price or market value of the propertyBSD rates
First $180,0001%
Next $180,0002%
Remaining amount3%

Examples

Example 1: A terrace house was purchased on 17 Feb 2023 at $4,500,100 which is reflective of the market value

 Market Value of the PropertyBSD Rate  Calculation
 First $180,0001%  = $1,800 (1% x $180,000) 
 Next $180,000  2% = $3,600 (2% x $180,000)
 Next $640,000 3% = $19,200 (3% x $640,000)
Next $500,0004%=  $20,000 (4% x $500,000)
Next $1,500,0005%= $75,000 (5% x $1,500,000)
Remaining $1,500,100 6% = $90,006 (6% x $1,500,100)
 BSD Payable   = $209,606 ($1,800 + $3,600 + $19,200 + $20,000 + $75,000 + $90,006)

Example 2: A vacant land zoned “Commercial and Residential” was purchased on 1 Mar 2023 at $22,000,000 which is reflective of the market value

Since the land is zoned “Commercial and Residential”, 60% and 40% of the gross floor area of the property is deemed attributable for residential and non-residential purposes respectively. BSD rates for residential and non-residential properties apply on the respective component.

Value of 60% of the GFA deemed attributable for residential purposes = $9,000,000*

Value of 40% of the GFA deemed attributable for commercial purposes = $13,000,000*

*Valued and determined by a professional valuer.

The BSD payable is: 

Market value of the PropertyBSD rateCalculation
For the residential component
First $180,0001%= $1,800 (1% x $180,000)
Next $180,0002%= $3,600 (2% x $180,000)
Next $640,0003%= $19,200 (3% x $640,000)
Next $500,0004%= $20,000 (4% x $500,000)
Next $1,500,0005%= $75,000 (5% x $1,500,000)
Remaining $6,000,0006%= $360,000 (6% x $6,000,000)
BSD for the residential component= $479,600 ($1,800 + $3,600 + $19,200 + $20,000 + $75,000 + $360,000)
For the non-residential component
First $180,0001%= $1,800 (1% x $180,000)
Next $180,0002%= $3,600 (2% x $180,000)
Next $640,0003%= $19,200 (3% x $640,000)
Next $500,0004%= $20,000 (4% x $500,000)
Remaining $11,500,0005%= $575,000 (5% x $11,500,000)
BSD for the non-residential component= $619,600 ($1,800 + $3,600 + $19,200 + $20,000 + $575,000)
BSD payable= $1,099,200 ($497,600 + $619,600)

Remissions

Acquisition of residential land for non-residential development

Acquisition of residential land (i.e. vacant land or entire building with land zoned “Residential”, “Residential/ Institution”, “White”, “Commercial & Residential” or “Residential with Commercial at 1st storey”) may qualify for upfront BSD remission (by way of the difference of the BSD rates for residential and non-residential properties) if the remission conditions are met. 

A. BSD remission for acquisition of residential land with use restriction

This is a BSD remission for acquisition of residential land that is restricted1 from residential use/ development (e.g. where the entire site or part of the site must be developed for non-residential purposes). If remission is granted, the BSD rates for non-residential properties would apply on the entire site or the part of the site restricted from residential use/development.

The BSD remission may be considered, subject to the following conditions:

  1. X%2 of the gross floor area (“GFA”) of the subject property (as the case may be) must be developed/ used for non-residential purposes;
  2. Not to develop and/ or use X% of GFA of the subject property for residential purposes;
  3. Notify the IRAS immediately should any of the X% of GFA of the subject property be subsequently developed and/ or used for residential purposes;
  4. Submit the following documents to IRAS within 14 days from the date of the acquisition:
    1. Technical Condition of Tender for the Government Land Sales site;
    2. Written Permission (“WP”) issued by URA for the redevelopment; or
    3. Any other documents or information that the Commissioner of Stamp Duties (“COSD”) may require in relation to the undertaking;
  5. Pay to the COSD as a debt due to the Singapore Government an amount equal to the BSD remitted with immediate effect from the earlier of the following: 
    1. The date that any of the X% of GFA of the subject property is used for residential purposes; or
    2. The date that regulatory approval (e.g. WP) is granted for the development of residential units; and
  6. Pay the amount recoverable by the COSD under condition (e) at the place stated and in the manner provided in a notice served by the COSD within one month after the service of the notice by the COSD.
Notes
1 Imposed by the relevant authorities.
2 X% refers to the specific percentage (based on GFA) of the site that must be used/developed for non-residential purposes.

B. BSD remission for acquisition of residential land without use restriction for 100% non-residential development 

A buyer who acquires a residential land that does not have any use restriction1 may wish to build a 100% non-residential development. In such case, he may qualify for BSD remission (by way of the difference of the BSD rates for residential and non-residential properties), subject to the following conditions:

  1. Not to develop and/ or use the subject property for residential purposes;
  2. Notify the IRAS immediately should the subject property be subsequently developed and/ or used for residential purposes;
  3. Submit the following documents to IRAS within 14 days from the date of Temporary Occupation Permit (“TOP”) or Certificate of Statutory Completion (“CSC”), whichever is earlier:
    1. Written Permission (“WP”) issued by URA for the redevelopment;
    2. TOP or CSC issued by BCA; and
    3. Any other documents or information that the Commissioner of Stamp Duties (“COSD”) may require in relation to the undertaking;
  4. Pay to the COSD as a debt due to the Singapore Government an amount equal to the BSD remitted with immediate effect from the earlier of the following:
    1. The date that the subject property is used for residential purposes; or
    2. The date that regulatory approval (e.g. WP) is granted for the development of residential units; and
  5. Pay the amount recoverable by the COSD under condition (d) at the place stated and in the manner provided in a notice served by the COSD within one month after the service of the notice by the COSD.

    For other remissions, please click  here.
Notes
1 Imposed by the relevant authorities.

How to apply

To apply for the remission, please submit an online application with the supporting documents via the e-Stamping Portal (select "Apply for Assessment/ Appeal" under “Request”) within 14 days from the date of acquisition.

List of supporting documents required for application of BSD remission

  1. Copy of the instrument
  2. Copy of Letter of Undertaking to comply with all the remission conditions
  3. Other documentary evidence listed within the remission conditions.

FAQS

I am a Singapore Citizen buying my first property. Do I need to pay BSD?

Yes, your purchase is subject to BSD. BSD is payable on all acquisitions of immovable properties in Singapore. It is not dependent on the nationality of the buyer or the number of properties that the buyer owns.

I am buying an HDB flat. Do I need to pay BSD?

Yes, BSD is payable upon the acquisition of any immovable property or land in Singapore, regardless of whether it is a private property or an HDB flat.

I am buying an HDB shop with living quarters. Is my purchase subject to BSD rates for non-residential property?

No, as this is a property where one of the permitted uses is for residential use, the BSD rates for residential and non-residential properties would apply on the value attributable to the respective components. 

I am buying a semi-detached house with land zoned “Residential”. The semi-detached house has been approved as a child care centre. Is my purchase subject to BSD rates for non-residential property?

No, as this is an acquisition of the building and land, the applicable BSD rates would depend on the zoning of the land. Since the land is zoned “Residential”, BSD rates for residential property applies.

I am buying a land zoned “Commercial & Residential”. What is the market value attributable to the residential and non-residential component?

For a land zoned “Commercial & Residential”, 60% GFA of the land is deemed attributable for residential purpose and the remainder is deemed attributable for non-residential purpose. You may get a professional valuer to value the part of the property attributable to residential and non-residential purposes.

Can the contracting parties change the date of instrument to avoid paying higher duty?

No. The Commissioner of Stamp Duties takes a serious view of any attempt to evade or reduce the incidence of duties. Evasion of duties is an offence under section 62 of the Stamp Duties Act. Any person guilty of such an offence shall be liable on conviction to a fine of up to $10,000 or to imprisonment for a term of up to 3 years or to both. The Commissioner of Stamp Duties may also disregard or vary any arrangements meant to evade or reduce the incidence of duty, and impose the duty (including late stamping penalties, if applicable) which would otherwise be payable.

Can I pay BSD using my Central Provident Fund (CPF) money?

Using CPF funds to pay stamp duty is subject to the terms and conditions under the Private Properties and Public Housing Schemes. You may wish to check with CPF Board for more details.  

Do I need to pay the ABSD if I have paid the BSD?

ABSD remains payable in addition to the BSD by buyers of certain profiles. For more information on ABSD, please refer to our webpage on ABSD.

I executed a contract to acquire a land zoned “White”. Its allowable use includes residential but I would like to develop a 100% non-residential development instead. Is the BSD payable calculated based on the BSD rates for non-residential properties?

As 100% GFA of the land is deemed attributable for residential purpose, the BSD payable would be calculated using the BSD rates for residential properties on the full purchase price or market value, whichever the higher. The BSD has to be paid within 14 days from the date of execution of the instrument.

However, since you are constructing a 100% non-residential development, remission may be applicable. Please refer to part B of the remission section mentioned above, i.e. BSD remission for acquisition of residential land without use restriction for 100% non-residential development.