Stamping Duty For Tenancy Agreement In Singapore

You must complete the E1A form of the IRAS website ( and submit it to be stamped by an IRAS officer. If the rent is $2000 a month. B and that the rent is valid for 12 months, the annual rent is 24,000 USD. As a result, the rental fee is 0.4% x $24,000 – $96. Rightly so, the tenants are the ones who pay stamp duty. The party that is required to pay stamp duty is generally indicated in the agreements. For example, if you are renting a property, the rental agreement should indicate who should pay stamp duty. Source: IRAS. (It also applies that if you are good at negotiations, the landlord can refund or pay the stamp duty amount for you, but the payment should always be made on behalf of the tenant). I simplified the message in this article.

Thank you for reporting it and for informing us! If you have a big day 🙂 A fine of $10 or an amount equal to the tax payable, depending on the highest amount, is imposed for late payments of up to 3 months. They signed the lease and paid the first month`s rent and deposit. Before you move into your new home, there`s one thing to do: stamp duty. However, in the event of a decrease in rent or a reduction in the duration of the tenancy, the document is not subject to a stamp duty. If the annual rent is more than Singapore dollar thousand (1,000 euros) and the duration of the tenancy is 4 years or less, the rental fee rate is 0.4% of the total rent for the duration of the tenancy. If your monthly rent is 2000 USD, you will find here an example of calculation to get the amount of customs duties: you can affix the agreement with your landlord via the electronic stamp portal of the IRAS. If the term of the tenancy has not started and the lease has been advanced or postponed without any change in the gross rent or the rental period, stamp duty is not payable. A fixed-rent rental agreement is a rent for which a fixed rent is agreed in advance for the entire rental period. Stamp duty on fixed rent depends on rent tax rates. Let`s look at one of the most common types of leasing in Singapore. In the case of a fixed rent, stamp duty will be based on rental rates, which represent 0.40% of the total rent of the rental period.

If you are a landlord and would like to confirm if your tenant has paid stamp duty, received the reference number of the document and the certificate of stamp, you just have to check online with the IRAS. It is punishable to use a document for which stamp duty has not been collected. Once you have insured that your rental is legal in Singapore, you have 10-14 days from the start of the rental to pay the stamp duty. We touched on some of the most important issues related to rent tax. We hope you find this useful. Stamp duty circumvention is a serious offence in Singapore.In most ATTs are the tenant`s responsibility. The TA is the only contractual document issued to tenants for their right to remain in this premise and also gives the lessor the right to act in the event of non-compliance with the contract with the expiry clause (for example. B if the tenants did not pay the rent at the hour limit). 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! Check out other rental items here: Latest Real Estate Updates March 2018: Stamp Duty Rule and Subsidized Housing for Divorcees and The Increase in Buyer Stamp Duty Will Not Stop the Dynamic Real Estate Market Visit our Ming Property Rental Stamp Duty Calculator to determine rent tax.

Hello AL, you must insist that the tenant show you the certificate of stamp. There is a website to verify the authenticity of the certificate. And yes, IRAS will come after you, if the stamp duty is not carried out, it must be done within 14 days of your signing, if a late penalty is not imposed.

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