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ABSD of 35% to apply on transfer of residential property into a living trust

The Edge Singapore
The Edge Singapore5/8/2022 11:45 PM GMT+08  • 2 min read
ABSD of 35% to apply on transfer of residential property into a living trust
Under the new rules, this ABSD (Trust) is to be paid upfront
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The government has closed an existing loophole “arising from its periodic policy review.”

With effect on May 9, Additional Buyer’s Stamp Duty (ABSD) of 35% will apply on any transfer of residential property into a living trust, says the Ministry of Finance.

This comes less than half a year after the government’s most recent round of property market cooling measures out on Dec 15, where among others, ABSD has been raised to 17% from 12% for Singaporeans buying their second residential property.

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