Budget 2018: What you need to know about Real Estate
Budget 2018: What you need to know about Real Estate
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In summary, this is how the revised BSD need to be computed.
For property value $1M or lesser:
Purchase Price X 3% – $5,400
For property value more than $1M
Purchase Price X 4% – $15400
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 on or after 20 Feb 2018 is up to 4%.
For definition of residential or non-residential properties, click here.
The BSD rates before and after the 2018 Budget changes are as follows:
Budget 2018: Proximity Housing Grant enhanced, more singles eligible
The criterion for determining what is “near” will also be simplified, to allow those living within 4km to benefit.
Singapore Budget 2018: Bigger grants to buy HDB resale flat with parents, singles to get grants to live near parents
Budget 2018: 900,000 households to receive S$126 million of S&CC rebates
Read more at https://www.channelnewsasia.com/news/singapore/budget-2018-900-000-households-to-receive-s-126-million-of-s-cc-9970692
Budget 2018: Top marginal Buyer’s Stamp Duty rate to rise for homes worth more than S$1m
The revised BSD rates will apply to all residential properties acquired from Tuesday (Feb 20), and the new top marginal rate of 4 per cent will apply to the portion of residential property value which is in excess of S$1 million.
Singapore Budget 2018: Top marginal buyer’s stamp duty for residential properties up to 4% from 3%
SINGAPORE BUDGET 2018: Buyer’s Stamp Duty for residential properties over $1 mil rises to 4%
SINGAPORE BUDGET 2018
Singapore Budget 2018 not expected to target property upswing
But some revenue-raising tax tweaks may still affect real estate sector
Singapore Budget 2018: HDB households to continue receiving rebates on service and conservancy charges
Here are the main headlines from Finance Minister Heng Swee Keat’s Budget statement in Parliament today.
1. From GST hike to Budget surplus hongbao: 12 highlights from Heng Swee Keat’s speech
http://str.sg/oirc
2. GST to be raised from 7% to 9% some time between 2021 and 2025
http://str.sg/oirp
3. Adult Singaporeans to get SG Bonus of up to $300 after $9.6b budget surplus
http://str.sg/oirG
4. Top marginal buyer’s stamp duty to go up from 3% to 4% for residential properties worth over $1 million
http://str.sg/oirx
5. Bigger grants to buy HDB resale flat with parents, singles to get grants to live near parents
http://str.sg/oirf
6. Some maid employers to face monthly levy increase of up to $185 from April 1, 2019
http://str.sg/oirY
7. GST to be levied on imported services from Jan 1, 2020
http://str.sg/oirg
8. Carbon tax of $5 per tonne of greenhouse gas emissions to be levied
http://str.sg/oirM
9. $5 billion rail fund, borrowing by statutory boards to tackle infrastructure investment challenges
http://str.sg/oirQ
10. Corporate income tax rebate raised to 40%, with higher cap; wage credit extended
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