Singapore · Tax policy
Singapore raises the top marginal Buyer's Stamp Duty rates to 6% for residential and 5% for non-residential property
On 14 February 2023 Singapore raised the top marginal Buyer's Stamp Duty rates for property acquired on or after 15 February 2023.
Announced 14 February 2023 · Effective 15 February 2023
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Current position: as introduced · 6 parameters, none amended
Original rule
as at 15 February 2023
Current position
as at 26 September 2026
Residential BSD, marginal rate on value from S$1m to S$1.5m
4%, unchanged, for property acquired on or after 15 February 2023
Residential BSD, marginal rate on value from S$1m to S$1.5m
No amendment recorded in this archive
Residential BSD, marginal rate on value from S$1.5m to S$3m
5%, for property acquired on or after 15 February 2023
Residential BSD, marginal rate on value from S$1.5m to S$3m
No amendment recorded in this archive
Residential BSD, marginal rate on value above S$3m
6%, for property acquired on or after 15 February 2023
Residential BSD, marginal rate on value above S$3m
No amendment recorded in this archive
Non-residential BSD, marginal rate on value from S$1m to S$1.5m
4%, for property acquired on or after 15 February 2023
Non-residential BSD, marginal rate on value from S$1m to S$1.5m
No amendment recorded in this archive
Non-residential BSD, marginal rate on value above S$1.5m
5%, for property acquired on or after 15 February 2023
Non-residential BSD, marginal rate on value above S$1.5m
No amendment recorded in this archive
Additional Conveyance Duties for Buyers, ceiling
Up to 46%, for qualifying acquisitions of equity interests in property holding entities
Additional Conveyance Duties for Buyers, ceiling
No amendment recorded in this archive
Key numbers
In brief
On 14 February 2023 the Ministry of Finance raised the top marginal Buyer's Stamp Duty rates for property acquired from the next day. Residential value above S$1.5 million is now taxed at 5%, and above S$3 million at 6%, where 4% had applied above S$1 million. Non-residential value above S$1 million moved from 3% to 4%, and above S$1.5 million to 5%. These are rates on slices of value. A home at or below S$1.5 million pays what it did before, and a S$3 million home pays S$15,000 more.
Why it mattersInterpretation
A marginal rate is not a rate on the price
The headline figure is 6%, and it applies only to value above S$3 million. A S$3 million home pays S$119,600, about 4.0% of the price, and a S$5 million home pays S$239,600, about 4.8%. No price reaches an effective rate of 6%. A reader who applies the top rate to the whole price will overstate the duty on every high-value purchase.
Every buyer pays it, whoever they are
Buyer's Stamp Duty does not ask who the buyer is. A citizen buying a first home above S$1.5 million pays the new rates exactly as a foreign buyer does. That separates it from the Additional Buyer's Stamp Duty, which is charged by buyer class on the whole price and which this release left untouched.
Non-residential property moved for the first time since 2018
The 2018 change added a fourth band for residential property only, leaving commercial and industrial buyers at up to 3%. This release gives non-residential property its own higher bands. A mixed-use purchase now carries both schedules, each on its own component, as IRAS's worked example of a Commercial and Residential site shows.
For developers
A land purchase for a mixed development is taxed on two schedules at once. On IRAS's worked S$22 million site the duty is S$1,099,200, and the non-residential part pays 5% above S$1.5 million.
What changed
Two schedules gained bands at the TOP and nothing below moved. Residential property kept 1%, 2%, 3% and 4% on its first S$1.5 million; the 4% band, which had run on all value above S$1 million, now stops at S$1.5 million, with 5% up to S$3 million and 6% above. Non-residential property kept 1%, 2% and 3% on its first S$1 million and gained 4% up to S$1.5 million and 5% above; it has no 6% band. The ceiling on the Additional Conveyance Duties for Buyers rose from up to 44% to up to 46%. The rates apply to property acquired on or after 15 February 2023, except where an Option to Purchase granted by 14 February 2023 was exercised by 7 March 2023, or within its validity period if earlier, without variation. Additional Buyer's Stamp Duty was not mentioned.
| As recorded in the claim | Before | After | Change | Source |
|---|---|---|---|---|
| Non-residential BSD on the value above S$1.5m, from 3% | 3% | 5% | +2 pts | Claim 3 |
| Residential BSD on the value above S$3m, from 4% | 4% | 6% | +2 pts | Claim 1 |
| Non-residential BSD on the value between S$1m and S$1.5m, from 3% | 3% | 4% | +1 pts | Claim 4 |
| Residential BSD on the value between S$1.5m and S$3m, from 4% | 4% | 5% | +1 pts | Claim 2 |
View all 7 before-and-after valuesHide the other 3
| The ceiling on the Additional Conveyance Duties for Buyers, which apply to qualifying acquisitions of equity interests in property holding entities, was raised from up to 44% to up to 46%. | 44% | 46% | +2 pts | Claim 9 |
| The 4% residential rate, which had applied to all value above S$1 million, was confined to the S$500,000 between S$1 million and S$1.5 million. | 4% | 4% | No change | Claim 5 |
| The first three bands were unchanged for both residential and non-residential property: 1% on the first S$180,000, 2% on the next S$180,000 and 3% on the next S$640,000. | 3% | 3% | No change | Claim 6 |
Full event recordDates, regulator, scope, every stored claim value, the position before and the current status
Event facts
- Announced
- 14 February 2023
- Effective
- 15 February 2023
- Announcement to effective
- 1 day
- Regulator
- Ministry of Finance, Inland Revenue Authority of Singapore
- Instruments and scope
- All residential and non-residential property in Singapore acquired on or after 15 February 2023, by any buyer, on the portion of the dutiable value above S$1.5 million for residential property and above S$1 million for non-residential property. The dutiable value is the higher of the purchase price or the market value. Qualifying acquisitions of equity interests in property holding entities are reached through the Additional Conveyance Duties for Buyers. Acquisitions under an Option to Purchase granted on or before 14 February 2023 and exercised on or before 7 March 2023, or within its validity period if earlier, and not varied on or after 15 February 2023, keep the earlier rates.
- Residential BSD on the value above S$3m, from 4%
- 6%A marginal rate on the slice above S$3m, not on the price. A S$5m home pays about 4.8%.[MOF press release, 14 February 2023, paragraph 2 and Table 1, last row; IRAS, Stamp Duty tax rates page, BSD table for acquisitions on or after 15 February 2023]
- Residential BSD on the value between S$1
- 5%Only the slice between S$1.5m and S$3m. Duty at or below S$1.5m is unchanged.[MOF press release, 14 February 2023, paragraph 2 and Table 1, row for the next S$1,500,000; IRAS, Stamp Duty tax rates page, BSD table for acquisitions on or after 15 February 2023]
- Non-residential BSD on the value above S$1
- 5%The non-residential schedule tops out at 5%. There is no 6% band.[MOF press release, 14 February 2023, paragraph 3; IRAS, Stamp Duty tax rates page, BSD tables for 20 February 2018 to 14 February 2023 and on or after 15 February 2023]
- Claim 4
- 4%Only the S$500,000 slice above S$1m. The first S$1m pays S$24,600 as before.[MOF press release, 14 February 2023, paragraph 3 and Table 1, row for the next S$500,000, non-residential columns]
- Claim 5
- 4%[MOF press release, 14 February 2023, Table 1, row for the next S$500,000; IRAS, Stamp Duty tax rates page, BSD table for 20 February 2018 to 14 February 2023]
- Claim 6
- 3%[MOF press release, 14 February 2023, Table 1, rows for the first S$180,000, the next S$180,000 and the next S$640,000]
- Claim 9
- 46%[MOF press release, 14 February 2023, paragraph 6 and footnote 1; IRAS, Stamp Duty tax rates page, Additional Conveyance Duties for Buyers table, part (A)]
- Claim 12
- 209606 SGD[IRAS, Buyer's Stamp Duty (BSD) page, Examples, Example 1]
- Claim 13
- 1099200 SGD[IRAS, Buyer's Stamp Duty (BSD) page, Examples, Example 2]
- Claim 14
- 6%[IRAS, Stamp Duty tax rates page, BSD section, second paragraph; IRAS, Buyer's Stamp Duty (BSD) page, Rates and computation]
- Before this framework
- For property acquired from 20 February 2018 to 14 February 2023, residential property paid 1% on the first S$180,000, 2% on the next S$180,000, 3% on the next S$640,000 and 4% on all value above S$1 million. Non-residential property paid the same first two bands and 3% on all value above S$360,000. The duty was charged on the higher of the purchase price or the market value, and the ceiling on the Additional Conveyance Duties for Buyers stood at up to 44%.
- Positioning at introduction
- Presented by the Ministry of Finance as raising the top marginal rate to enhance the progressivity of the Buyer's Stamp Duty regime. The release gives no other reason and mentions neither prices nor transaction volumes.
- Current status
- Active as introduced, no amendment recorded in this archive.
Market context
The market around the announcement
When this was announced on 14 February 2023, URA's latest quarterly figures were for 4Q2022, published 27 January 2023, 18 days earlier. The next release, 1Q2023, came on 28 April 2023. The table carries on through four releases after it.
| Private residential | 2Q2022Jul 2022 | 3Q2022Oct 2022 | On the day4Q2022Jan 2023 | 1Q2023Apr 2023 | 2Q2023Jul 2023 | 3Q2023Oct 2023 | 4Q2023Jan 2024 | Trend | Change4Q2022 to 4Q2023 |
|---|---|---|---|---|---|---|---|---|---|
| Prices | |||||||||
| Private home price index | 180.9 | 187.8 | 188.6 | 194.8 | 194.4 | 196.0 | 201.5 | +6.8% | |
| Non-landed, core central region | 141.2 | 144.4 | 145.4 | 146.6 | 146.5 | 142.5 | 148.1 | +1.9% | |
| Private rental index | 127.0 | 137.9 | 148.1 | 158.8 | 163.2 | 164.5 | 161.0 | +8.7% | |
| Sales | |||||||||
| New homes sold by developers | 2,397 | 2,187 | 690 | 1,256 | 2,127 | 1,946 | 1,092 | +58.3% | |
| Resales | 4,236 | 3,719 | 2,694 | 2,622 | 2,976 | 2,900 | 2,831 | +5.1% | |
| Sub-sales | 178 | 242 | 204 | 243 | 285 | 355 | 411 | +101.5% | |
| Units launched | 1,956 | 1,455 | 504 | 1,312 | 2,374 | 2,805 | 1,060 | +110.3% | |
| Supply | |||||||||
| Unsold, uncompleted, with planning approval | 15,805 | 15,677 | 16,024 | 16,252 | 17,484 | 16,747 | 16,929 | +5.6% | |
| Pipeline with planning approval | 48,836 | 49,384 | 46,041 | 44,846 | 44,157 | 36,949 | 34,251 | −25.6% | |
| Vacancy rate | 5.4% | 5.7% | 5.5% | 6.0% | 6.3% | 8.4% | 8.1% | +2.6 pts | |
Each figure is the quarter's own value as URA printed it in that quarter's release, not as later revised. Select a figure to see the annex and page it comes from.
Held back: URA prints the number in more than one place and the table's labels do not settle which one it is, so the archive stores it but does not show it.
We've seen this before
26 April 2023 · 27 April 2023
Why relevant
The same year, the same buyer-side stamp duty family and the same high-value segment, ten weeks apart, so the two are easily merged in summary and must not be. February 2023 raised Buyer's Stamp Duty, which every buyer pays on slices of value above S$1.5 million residential. April 2023 raised Additional Buyer's Stamp Duty, which is charged on the whole price by buyer class. Read together they show two instruments with different targets acting on one segment in one half-year.
Where the comparison breaks
- Different instrument. February 2023 moved Buyer's Stamp Duty; April 2023 moved Additional Buyer's Stamp Duty. Neither release amends the other's instrument.
- Different incidence. Buyer's Stamp Duty falls on every buyer alike; ABSD is charged by citizenship, residence status and properties owned, and a citizen buying a first home pays none.
- Different base within the price. The February rates are marginal and apply only to value above S$1.5 million residential or S$1 million non-residential. ABSD rates apply to the whole price.
- Different scale. The top Buyer's Stamp Duty rate rose by two percentage points on a slice of value. ABSD for foreigners doubled from 30% to 60% of the whole price.
- Different reach by property type. February 2023 also changed the non-residential schedule. ABSD applies to residential property only.
- Different stated purpose. February 2023 cited progressivity. April 2023 was presented as a cooling measure to moderate investment demand.
What happened after
The April 2023 change truncates every outcome window here at 26 April 2023. Any movement in high-value residential transactions after that date carries both changes and cannot be split between them from aggregate data, so April 2023's observed outcomes cannot be read as evidence for or against this event.
Not a precedent for: Buyer-class duties such as Additional Buyer's Stamp Duty; Seller's Stamp Duty; Credit instruments such as loan-to-value limits, TDSR and MSR; Supply-side instruments such as Government Land Sales programming
What happens next
15 February 2023 to 26 April 2023, then 2023 to 2024
Price bunching at the new band boundaries
Show detail
Price bunching at the new band boundaries
Interpretation
A marginal schedule gives no reason to bunch below a band boundary: a dollar over S$1.5 million or S$3 million costs only the higher rate on that dollar. The test is whether residential prices after 15 February 2023 cluster just below either boundary more than they did before. New clustering would mean buyers or sellers treated a marginal rate as a rate on the whole price. The expected result is none.
Why this grade
No grade is assigned because no transaction-level price series is held here. The first window closes on 26 April 2023, because the Additional Buyer's Stamp Duty change from 27 April 2023 acts on the same price range through a different instrument.
No caveat-level price data is loaded in this archive.
15 February 2023 to 26 April 2023
Residential purchases above S$3 million
Show detail
Residential purchases above S$3 million
Interpretation
The test is whether residential purchases above S$3 million fell relative to purchases between S$1 million and S$1.5 million, whose duty did not change. The added duty at the top is small against the price, S$15,000 on a S$3 million purchase, so a null result is the more likely one, and it would say the rate was set to raise revenue rather than to deter.
Why this grade
No grade is assigned because no series is held here. The window is ten weeks and cannot be extended: from 27 April 2023 a much larger duty fell on specific buyer classes in the same price range, and after that date no comparison isolates this change.
Truncated at 26 April 2023 by the Additional Buyer's Stamp Duty change.
Financial years 2023 and 2024
Buyer's Stamp Duty collected in the new top bands
Show detail
Buyer's Stamp Duty collected in the new top bands
Interpretation
The stated purpose was progressivity, so the direct test is whether duty collected rose relative to transaction value in the bands above S$1.5 million residential and S$1 million non-residential. The release gives no revenue estimate, so there is no official expectation to test against.
Why this grade
No grade is assigned. IRAS collection figures are not known to be published by band, and without that split the effect of this change cannot be separated from transaction volumes and from the Additional Buyer's Stamp Duty change of April 2023.
No stamp duty collection series by band is known to exist.
Prevo analysis
Prevo view
InterpretationThis is a tax on price, not a cooling measure, and it reads correctly only as a schedule of slices. Its reach is narrow: nothing changes for a home at or below S$1.5 million, and the extra duty on a S$3 million home is S$15,000. The Government said the aim was progressivity and gave no figure for it, so the event is best treated as a change in the price of high-value transactions rather than as an attempt to move the market. Its main practical effect on this archive is the rule set it created for every later duty computation, and the risk it creates for readers is the marginal rate quoted as if it applied to the whole price.
Confidence: MEDIUM-HIGH
What would change this view: A count of transactions and duty collected by band, before and after 15 February 2023, would show whether the bands raised material revenue or changed where prices settle. Evidence of new price clustering just below S$1.5 million or S$3 million would show the market treating the marginal rates as rates on the price. A Government statement quantifying the progressivity aim would give the measure a target to be judged against.
The case for and the case against2
The case for
The release names one purpose, progressivity, and the design serves it closely. Duty rises only on value above S$1.5 million residential and S$1 million non-residential, so the first S$1.5 million of any home is untouched and the added cost scales with price. The change was announced the day before it took effect, with an Option to Purchase provision that protected buyers already committed, which leaves little room for a rush to beat it. Raising the ceiling on the Additional Conveyance Duties for Buyers at the same time keeps the equity-interest route in step with direct purchase.
The case against
The release gives no revenue estimate and no count of affected transactions, so the scale of the progressivity gain cannot be judged from what the Government published. The added duty is small against the prices it reaches, S$15,000 on a S$3 million home, and unlikely to change behaviour on its own. Its effects are also hard to see afterwards: from 27 April 2023 a much larger Additional Buyer's Stamp Duty change fell on the same high-value segment, which leaves a ten-week window in which this change acted alone.
What this view assumes4
- The rates are marginal: each applies only to the slice of value in its band.
- The duty is charged on the higher of the purchase price or the market value.
- A blank cell in the release's Table 1 means the rate above continues, which paragraphs 2 and 3 confirm in words.
- The applicable schedule is fixed by the acquisition date, subject to the Option to Purchase conditions.
What we don't know4
- The number of purchases each year above S$1.5 million residential and S$1 million non-residential
- The revenue raised by the new bands
- The subsidiary legislation that gave the rates legal effect, which this archive has not located
- How many purchases completed after 15 February 2023 kept the old rates under the Option to Purchase provision
Evidence behind this event
14 claims, 13 verified
- Causally established outcomes
- 0
- Interpretive sections, not claim-verifiableWhy it matters, Prevo View, The case for, The case against
- 4
Source interpretations1
Claims pending additional evidence1
Every claim, by type
Rates, figures and counts9
- Claim 1
The portion of a residential property's value above S$3 million became taxed at a marginal Buyer's Stamp Duty rate of 6%, up from 4%.
VERIFIED PRIMARY[MOF press release, 14 February 2023, paragraph 2 and Table 1, last row; IRAS, Stamp Duty tax rates page, BSD table for acquisitions on or after 15 February 2023]A marginal rate on the value above s$3 million only, not a rate on the price. A purchase at exactly S$3 million pays nothing at 6%, and the effective rate stays below 6% at every price: a S$5 million home pays S$239,600, about 4.8%. Applies to property acquired on or after 15 February 2023, subject to the Option to Purchase provision in claim 8.
- Claim 2
The portion of a residential property's value above S$1.5 million and up to S$3 million became taxed at a marginal Buyer's Stamp Duty rate of 5%, up from 4%.
VERIFIED PRIMARY[MOF press release, 14 February 2023, paragraph 2 and Table 1, row for the next S$1,500,000; IRAS, Stamp Duty tax rates page, BSD table for acquisitions on or after 15 February 2023]A marginal rate on the s$1.5 million slice between S$1.5 million and S$3 million only. A S$2 million home pays 5% on S$500,000 of its price, and its duty is S$69,600, about 3.5% of the price.
- Claim 3
The portion of a non-residential property's value above S$1.5 million became taxed at a marginal Buyer's Stamp Duty rate of 5%, up from 3%.
VERIFIED PRIMARY[MOF press release, 14 February 2023, paragraph 3; IRAS, Stamp Duty tax rates page, BSD tables for 20 February 2018 to 14 February 2023 and on or after 15 February 2023]A marginal rate on the value above s$1.5 million only. The before-value is stated by the source: paragraph 3 says "up from the current rate of 3%", and IRAS carries 3% on the remaining amount for non-residential property from 20 February 2018 to 14 February 2023. There is no 6% band for non-residential property. The release's table leaves the non-residential cell for value above S$3 million blank, which in that table means the rate above continues, and IRAS puts all non-residential value above S$1.5 million at 5%.
- Claim 4
The portion of a non-residential property's value above S$1 million and up to S$1.5 million became taxed at a marginal Buyer's Stamp Duty rate of 4%, up from 3%.
VERIFIED PRIMARY[MOF press release, 14 February 2023, paragraph 3 and Table 1, row for the next S$500,000, non-residential columns]A marginal rate on the s$500,000 slice between S$1 million and S$1.5 million only. A non-residential purchase at or below S$1 million pays exactly what it did before.
- Claim 5
The 4% residential rate, which had applied to all value above S$1 million, was confined to the S$500,000 between S$1 million and S$1.5 million.
VERIFIED PRIMARY[MOF press release, 14 February 2023, Table 1, row for the next S$500,000; IRAS, Stamp Duty tax rates page, BSD table for 20 February 2018 to 14 February 2023]The rate did not move; the band gained an upper bound. Stored as 4 and 4 so that the unchanged rate is visible rather than inferred. A residential purchase at or below S$1.5 million pays the same duty as before, S$44,600 at exactly S$1.5 million.
- Claim 6
The first three bands were unchanged for both residential and non-residential property: 1% on the first S$180,000, 2% on the next S$180,000 and 3% on the next S$640,000.
VERIFIED PRIMARY[MOF press release, 14 February 2023, Table 1, rows for the first S$180,000, the next S$180,000 and the next S$640,000]The structured value is the third band's rate, the highest of the three unchanged bands. The first S$1 million of value is taxed identically in both schedules and for both classes, at S$24,600.
- Claim 9
The ceiling on the Additional Conveyance Duties for Buyers, which apply to qualifying acquisitions of equity interests in property holding entities, was raised from up to 44% to up to 46%.
VERIFIED PRIMARY[MOF press release, 14 February 2023, paragraph 6 and footnote 1; IRAS, Stamp Duty tax rates page, Additional Conveyance Duties for Buyers table, part (A)]Additional conveyance duty, not buyer's stamp duty. It is charged on acquisitions of equity interests in an entity holding at least 50% of its total tangible assets in prescribed immovable property in Singapore, not on a purchase of property. "Up to" is the source's wording: 46% is a ceiling, and IRAS computes the duty through a formula with a banded part that follows the BSD bands and a separate flat part. The release does not say how the ceiling is composed.
- Claim 12
IRAS works an example of a terrace house bought on 17 February 2023 at S$4,500,100, on which the Buyer's Stamp Duty is S$209,606.
VERIFIED PRIMARY[IRAS, Buyer's Stamp Duty (BSD) page, Examples, Example 1]A worked example by the administering agency, not a transaction. The 6% band reaches only the final S$1,500,100 of the price, and the duty is about 4.7% of the price against a top marginal rate of 6%.
- Claim 13
IRAS works an example of land zoned Commercial and Residential bought on 1 March 2023 at S$22,000,000, split S$9,000,000 residential and S$13,000,000 non-residential, on which the duty is S$479,600 on the residential component and S$619,600 on the non-residential component, S$1,099,200 in total.
DISPUTED[IRAS, Buyer's Stamp Duty (BSD) page, Examples, Example 2]The page disagrees with itself, and both figures are kept. It states the residential component as S$479,600 and then adds S$497,600 and S$619,600 to reach S$1,099,200. The bands give S$479,600, and S$479,600 plus S$619,600 is S$1,099,200, so the total is right and the addend S$497,600 is a transposition on the page. The example shows one property carrying both schedules at once, each applied to its own component; the non-residential S$11,500,000 above S$1.5 million is all at 5%.
Rules and scope2
- Claim 8
The earlier rates continue to apply where the Option to Purchase was granted on or before 14 February 2023, is exercised on or before 7 March 2023 or within the option's validity period if earlier, and has not been varied on or after 15 February 2023.
VERIFIED PRIMARY[MOF press release, 14 February 2023, paragraph 5, conditions (a) to (c)]All three conditions must hold. The window is not three weeks for every buyer: an option whose own validity period ended before 7 March 2023 had to be exercised within that period. The release does not say how the relief is given.
- Claim 10
Buyer's Stamp Duty is computed on the higher of the purchase price or the market value of the property.
VERIFIED PRIMARY[MOF press release, 14 February 2023, Table 1, first column heading; IRAS, Stamp Duty tax rates page, BSD section, first sentence]The base of the duty, unchanged by this release. IRAS adds that the duty is rounded down to the nearest dollar with a minimum of S$1, which the release does not state.
Dates1
- Claim 7
The revised rates apply to all properties acquired on or after 15 February 2023.
VERIFIED PRIMARY[MOF press release, 14 February 2023, paragraph 4]Fixes the boundary by acquisition date and is subject to the Option to Purchase provision in claim 8, under which some acquisitions completed after this date kept the earlier rates.
Characterisations and comparisons1
- Claim 11
The Government gave as its reason enhancing the progressivity of the Buyer's Stamp Duty regime.
VERIFIED PRIMARYGovernment estimate[MOF press release, 14 February 2023, opening paragraph]The stated purpose is distributional, not cooling. The release gives no other reason, mentions neither prices nor volumes, and publishes no revenue estimate or count of affected transactions. Classed as an interpretation because a statement of purpose is the authority's characterisation of its own measure, following the archive's treatment of stated reasons on the July 2025 event.
Background1
- Claim 14
IRAS states that the Buyer's Stamp Duty rate was up to 3% before 20 February 2018, that residential property acquired from 20 February 2018 to 14 February 2023 was charged up to 4%, and that from 15 February 2023 the top marginal rate is 6% for residential and 5% for non-residential property.
VERIFIED PRIMARY[IRAS, Stamp Duty tax rates page, BSD section, second paragraph; IRAS, Buyer's Stamp Duty (BSD) page, Rates and computation]A lineage statement by the administering agency, written after the event. It places the residential schedule this release amends at 20 February 2018 and records that non-residential property stayed at up to 3% until this change. The before-values are held on claims 1 to 4; the structured value here is the new residential top marginal rate.
How this is scored
Counts are by provenance, meaning who established the claim, not by how confident we are. A policy fact is one the regulator's own document states. A market observation comes from a named data series. A derived calculation is one we computed, with the working recorded on the claim.
Interpretations are counted, never netted out. This page will not display zero unsupported claims while interpretive sections sit outside the claim ledger, because that number would be true only by excluding the material most likely to be wrong.
A claim of one type is only treated as verified by a source of the matching type. A market observation is not verified by a regulator press release.
Claims are grouped by the type recorded on each one. Grouping hides nothing: every claim is in exactly one group, in full.
Sources
3 documents
Primary sources3
- Buyer’s Stamp Duty (BSD) Rates to be Raised for Higher-Value Properties
Ministry of Finance · Published 14 February 2023
Cited by 11 claims, 11 verified
- Claim 1 · MOF press release, 14 February 2023, paragraph 2 and Table 1, last row; IRAS, Stamp Duty tax rates page, BSD table for acquisitions on or after 15 February 2023
- Claim 2 · MOF press release, 14 February 2023, paragraph 2 and Table 1, row for the next S$1,500,000; IRAS, Stamp Duty tax rates page, BSD table for acquisitions on or after 15 February 2023
- Claim 3 · MOF press release, 14 February 2023, paragraph 3; IRAS, Stamp Duty tax rates page, BSD tables for 20 February 2018 to 14 February 2023 and on or after 15 February 2023
- Claim 4 · MOF press release, 14 February 2023, paragraph 3 and Table 1, row for the next S$500,000, non-residential columns
- Claim 5 · MOF press release, 14 February 2023, Table 1, row for the next S$500,000; IRAS, Stamp Duty tax rates page, BSD table for 20 February 2018 to 14 February 2023
- Claim 6 · MOF press release, 14 February 2023, Table 1, rows for the first S$180,000, the next S$180,000 and the next S$640,000
- Claim 7 · MOF press release, 14 February 2023, paragraph 4
- Claim 8 · MOF press release, 14 February 2023, paragraph 5, conditions (a) to (c)
- Claim 9 · MOF press release, 14 February 2023, paragraph 6 and footnote 1; IRAS, Stamp Duty tax rates page, Additional Conveyance Duties for Buyers table, part (A)
- Claim 10 · MOF press release, 14 February 2023, Table 1, first column heading; IRAS, Stamp Duty tax rates page, BSD section, first sentence
- Claim 11 · MOF press release, 14 February 2023, opening paragraph
- Buyer's Stamp Duty (BSD)
Inland Revenue Authority of Singapore · Publication date not recorded
- Stamp Duty
Inland Revenue Authority of Singapore · Publication date not recorded
Cited by 7 claims, 7 verified
- Claim 1 · MOF press release, 14 February 2023, paragraph 2 and Table 1, last row; IRAS, Stamp Duty tax rates page, BSD table for acquisitions on or after 15 February 2023
- Claim 2 · MOF press release, 14 February 2023, paragraph 2 and Table 1, row for the next S$1,500,000; IRAS, Stamp Duty tax rates page, BSD table for acquisitions on or after 15 February 2023
- Claim 3 · MOF press release, 14 February 2023, paragraph 3; IRAS, Stamp Duty tax rates page, BSD tables for 20 February 2018 to 14 February 2023 and on or after 15 February 2023
- Claim 5 · MOF press release, 14 February 2023, Table 1, row for the next S$500,000; IRAS, Stamp Duty tax rates page, BSD table for 20 February 2018 to 14 February 2023
- Claim 9 · MOF press release, 14 February 2023, paragraph 6 and footnote 1; IRAS, Stamp Duty tax rates page, Additional Conveyance Duties for Buyers table, part (A)
- Claim 10 · MOF press release, 14 February 2023, Table 1, first column heading; IRAS, Stamp Duty tax rates page, BSD section, first sentence
- Claim 14 · IRAS, Stamp Duty tax rates page, BSD section, second paragraph; IRAS, Buyer's Stamp Duty (BSD) page, Rates and computation
Event checked against its primary sources on 26 September 2026. Each claim keeps its own verification status.
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