At the time of this writing, a Seller Stamp Duty (SSD) is applicable for the below situations:
(1) If you property is bought between 30 August 2010 to 12 January 2011, the following SSD applies:
- 3% of price or market value if the property is sold within the first year.
- 2% of price or market value if the property is sold within the second year.
- 1% of price or market value if the property is sold within the third year.
- No SSD when the property is sold after a holding period of three years.
(2) If your property is bought on or after 13 January 2011, the following SSD applies:
- 16% of price or market value if the property is sold within the first year.
- 12% of price or market value if the property is sold within the second year.
- 8% of price or market value if the property is sold within the third year.
- 4% of price or market value if the property is sold within the fourth year.
- No SSD when the property is sold after a holding period of four years.
By Eileen Tan and Ui Wei Teck, property investors and authors of Enjoying Mid-Life Without Crisis. This tip and dozens more are from their book.