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PR Newswire
10-03-2017, 05:08 PM
I read the article. The ABSD and LTV limits are the killing parts and will remain.
Extra stamp duty levied imposed. I reckon it is to patch the hole. Few transactions recently have escaped the stamp duty by acquiring PHEs, rather than properties itself.
Govt relaxes SSD, TDSR rules for residential properties; introduces new stamp duty for property-holding entities
SINGAPORE (March 10): Even as Singapore’s property cooling measures look set to remain, the government on Friday announced a reduction of Seller’s Stamp Duties (SSD) and changes to the Total Debt Servicing Ratio (TDSR).
In addition, Second Minister for Finance Lawrence Wong in parliament on Friday introduced a new stamp duty levied on the purchase and sale of residential property in property-holding entities (PHEs).
The changes will kick in from March 11.
Meanwhile, there will be no changes made to the current Additional Buyer’s Stamp Duties (ABSD) rates and Loan to Value (LTV) limits as “transaction volumes in the private residential property market remain healthy,” say the Ministry of National Development (MND), Ministry of Finance (MOF), and Monetary Authority of Singapore (MAS) in a joint release.
http://www.theedgemarkets.com.sg/article...y-property
Extra stamp duty levied imposed. I reckon it is to patch the hole. Few transactions recently have escaped the stamp duty by acquiring PHEs, rather than properties itself.
Govt relaxes SSD, TDSR rules for residential properties; introduces new stamp duty for property-holding entities
SINGAPORE (March 10): Even as Singapore’s property cooling measures look set to remain, the government on Friday announced a reduction of Seller’s Stamp Duties (SSD) and changes to the Total Debt Servicing Ratio (TDSR).
In addition, Second Minister for Finance Lawrence Wong in parliament on Friday introduced a new stamp duty levied on the purchase and sale of residential property in property-holding entities (PHEs).
The changes will kick in from March 11.
Meanwhile, there will be no changes made to the current Additional Buyer’s Stamp Duties (ABSD) rates and Loan to Value (LTV) limits as “transaction volumes in the private residential property market remain healthy,” say the Ministry of National Development (MND), Ministry of Finance (MOF), and Monetary Authority of Singapore (MAS) in a joint release.
http://www.theedgemarkets.com.sg/article...y-property