The Stamp Duties (Amendment) Bill (the “Bill”) was introduced in Parliament on 9 May 2022. The Bill will introduce ad valorem stamp duty on the renunciation of interest in residential property by a beneficiary where the residential property was held in a bare trust. This change as proposed in the Bill will take effect from 10 May 2022. 
Check the terms of the document (e.g. tenancy agreement) to determine who is contractually required to pay the Stamp Duty. When the terms do not state who is liable, the party to pay Stamp Duty will follow that as specified in the Third Schedule of the Stamp Duties Act.

Terms of the Agreement

The party who is liable to pay Stamp Duty is usually stated in the agreements. For example, if you rent a property, the tenancy agreement should state who is liable to pay Stamp Duty.

Stamp Duties Act

When the terms of the document do not state who is liable to pay Stamp Duty, the party to pay Stamp Duty will follow that as specified in the Third Schedule of the Stamp Duties Act.

Types of DocumentsParty to Pay Stamp Duty
Conveyance duty for documents such as:
  • Sale and Purchase Agreement
    • Buyer's Stamp Duty
    • Additional Buyer's Stamp Duty

Purchaser / Transferee

  • Sale and Purchase Agreement
    • Seller's Stamp Duty (if applicable)

Seller / Transferor

  • Document of Transfer (where contracts and agreements are not applicable)
  • Transfer of property by way of gift
  • Distribution of assets

Transferee

  • Trust Deed / Declaration of Trust
  • Settlement

Trustee / Transferee

  • Renunciation of interest in a Residential Property held under Bare Trust (IRAS' s 22C Notice)
    • Buyer's Stamp Duty
    • Additional Buyer's Stamp Duty
Settlor / Transferee
  • Renunciation of interest in a Residential Property held under Bare Trust (IRAS' s 22C Notice)
    • Seller's Stamp Duty
Beneficiary / Transferor
  • Partition of property
  • Exchange of property

Parties involved in the partition and exchange

  • Leases with premium

Lessee

  • Novation or Assignment of Lease with additional consideration

Incoming tenant

  • Surrender of Lease with payment
Landlord
Lease duty for documents such as:
  • Lease or Tenancy Agreement
  • Agreement for Lease
  • Agreement for Variation of Lease
  • Acceptance to the Letter of Offer

Lessee or Tenant

Mortgage duty:
Mortgages for Properties Mortgagor