When buying a property, you need to pay the Buyer's Stamp Duty (BSD). BSD is a tax paid on documents signed when buying or acquiring property located in Singapore.
BSD rates for residential properties:
- First $180,000: 1%
- Next $180,000: 2%
- Next $640,000: 3%
- Next $500,000: 4%
- Next $1,500,000: 5%
- Remaining amount: 6%
BSD rates for non-residential properties:
- First $180,000: 1%
- Next $180,000: 2%
- Next $640,000: 3%
- Next $500,000: 4%
- Remaining amount: 5%
Make sure to calculate the BSD based on the purchase price or market value of the property, whichever is higher.