Where Do You Pay Stamp Duty On A Tenancy Agreement In Singapore

The amount of stamp duty depends on the monthly rent as well as the length of your rental period. Here is an example of an apartment with a total monthly rent of $3000 for a rental period of 18 and 24 months. Of course, the higher the rent and the longer the length of stay, the higher the amount of stamp duty to be paid. One way to calculate stamp duty is to follow the formula and manually enter the right numbers into your calculator. However, there is actually a faster way to do this when using your computer. You can use the stamp duty calculator available on the IRAS website and enter the appropriate numbers such as rental period, monthly rental rate and, if applicable, other numbers. As soon as the correct numbers are entered, the amount of stamp duty to be paid is displayed on the stamp duty calculator. In the case of rentals, it is the tenant who pays the stamp duty! The stamp certificate contains several pieces of information such as the document reference number, the stamp certificate reference number, the document description, the address of the property, the amount paid and the names of the parties in the document. Stamp duty is payable on the consideration or market value of the rental interest transferred, whichever is greater, at BSD rates. Another example: if the rental period is 18 months instead of 24 months, the stamp duty payable would be $216, as shown below. A penalty of $10 or an amount equal to the fee payable, whichever is greater, will be imposed for late payments of up to 3 months. In this example, the tenant does not have to pay stamp duty because the AAR is $0. Hello Xoo, you are actually right 😀 Stamp duty is also levied on the rental of the room.