10 May 2022 

You would have read of the recent changes to the Additional Buyer’ Stamp Duty (ABSD) and the Additional Conveyance Duties (ACD) regimes relating to trusts.

  • On 8 May 2022, the Government announced that any transfer of residential property into a living trust will be subject to ABSD rate at 35%.
  • On 9 May 2022, the Government also introduced the Stamp Duties (Amendment) Bill (the “Bill”) in Parliament. The Bill introduces the Additional Conveyance Duties for Trust and the stamp duty treatment for renunciation of interest in residential property held on bare trust.
I am enclosing the details and the updated ABSD declaration form kindly provided by IRAS for your attention please.  You may also wish to refer to IRAS’ website for more details.
 
Regards
Ms. Sim Bock Eng - Chair, STEP Singapore Committee 2019-2022. 


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