In Singapore, a tenant must pay a tax (surprise!) in addition to the monthly rent and deposit when signing the rental agreement. Unlike the stamp tax, it is payable if a tenant: from December 2003, tenants have the potential to be responsible for the property tax stamp tax (LTDS). The LTDS threshold was raised to $120,000 in March 2005 and $125,000 in March 2006. SDLT is a tax levied on rentals paid by tenants and at the level of gross rent for the duration of the lease, net of a pre-defined discount (currently 3.5%) is calculated. This calculation produces an amount called net present value (NPV). No stamp duty is due as of March 17, 2006 if the net present value is less than $125,000. If the MNP is more than $125,000, stamp duty is calculated as 1% of the difference between the MNP and $125,000. If the NPV . B is $128,000, the LDTC payable is 1% of the difference between the value of the NPV and $125,000, or 1% of $3,000, or $30.
These are examples of numbers and vary from time to time. It is recommended that you seek legal advice on the commitments you have for SDLT. To download buffer apps in large quantities for sharing documents, click on the links below to see the demo videos. 15-month leasing that extended the initial rental period by 3 months1 Jan 2020 – March 31, 2021 Hello, can I know where to pay and what documents should I submit? Hello Xoo, you are right 😀 Stamp duty also applies to room rentals. I corrected the article. Thank you for your valuable feedback on this article 🙂 be in touch! According to the land settlement, a lease of more than three years must be registered with the land registry within one month of completion. Other leases, including those with the option of renewing the existing lease, may also be registered. Please note that a rental agreement must be stamped before being registered in the land registry and, if necessary, recognized as evidence by the courts.