1% Ang Pow

[Arcachon]

https://www.iras.gov.sg/irashome/Other-Taxes/Stamp-Duty-for-Property/Working-out-your-Stamp-Duty/Buying-or-Acquiring-Property/What-is-the-Duty-that-I-Need-to-Pay-as-a-Buyer-or-Transferee-of-Residential-Property/Buyer-s-Stamp-Duty--BSD-/

[star]

Property above $1m will charge additional 1% stamp duty. Likely 1 and 2 bedders will be popular since most r priced below $1m.

[Arcachon]

Property above $1m will charge additional 1% stamp duty. Likely 1 and 2 bedders will be popular since most r priced below $1m.

For property value $1M or lesser
P.P X 3% - $5,400

For property value more than $1M
P.P X 4% - $15,400

Before $1,000,000 BSD = 3%-$5400=$24,600.

Now $1,000,000 BSD=4%-15,400=$24,600.

Next $100,000=4%-15,400=28,600.

For every $100,000 only add $1000. ?????? why buy below $1M.

[star]

For property value $1M or lesser
P.P X 3% - $5,400

For property value more than $1M
P.P X 4% - $15,400

Before $1,000,000 BSD = 3%-$5400=$24,600.

Now $1,000,000 BSD=4%-15,400=$24,600.

Next $100,000=4%-15,400=28,600.

For every $100,000 only add $1000. ?????? why buy below $1M.

Where u get the - $15400?

[Kelonguni]

For property value $1M or lesser
P.P X 3% - $5,400

For property value more than $1M
P.P X 4% - $15,400

Before $1,000,000 BSD = 3%-$5400=$24,600.

Now $1,000,000 BSD=4%-15,400=$24,600.

Next $100,000=4%-15,400=28,600.

For every $100,000 only add $1000. ?????? why buy below $1M.

It's easier to read this:

Now $1,000,000 BSD=3%-5,400=$24,600 (because only amounts above 1 million get 4%).

Next $100,000 = $24,600 + (4% of 100,000) = 28,600. versus the old scheme of $27,600.

The difference is very mild until the price goes into multi-millions. But if someone can pay multi-million for a property (e.g. 10 million), they probably should pay more (say $90,000 more).

[star]

Ic

[Arcachon]

First $180,000 1% $1,800.00
Next $180,000 2% $3,600.00

First $360,000 $5,400.00

Next $640,000 3% $19,200.00

First $1,000,000 3% $30,000.00

First $1,000,000 $30,000-$5400 $24,600.00

Remaining Amount $1,100,000.00
$1,000,000.00 $24,600.00
$100,000.00 4% $4,000.00
$28,600.00
Remaining Amount 1000000 4% $40,000.00
$(15,400.00) $24,600.00

Old First $1,000,000 3%-%5400 = $30,000-$5,400.
New First $1,000,000 4%-15,400= $40,000-15,400.

[bargain hunter]

the effect is minimal on mass market and also negligible on multi million properties. however, it was reported in the news that a housewife quickly bought the last new futura 4 bedder at 7.7m to save 67k last night. :)

[Arcachon]

the effect is minimal on mass market and also negligible on multi million properties. however, it was reported in the news that a housewife quickly bought the last new futura 4 bedder at 7.7m to save 67k last night. :)

housewife know how long she need to save to get 67K.