Can you explain the ABSD remission for matrimonial private property with foreign spouse

For married couples in Singapore, including those with a foreign spouse, the Additional Buyer’s Stamp Duty (ABSD) remission has specific conditions that must be met.

First Property Purchase

If the couple includes at least one Singapore Citizen (SC) spouse and they are purchasing their first residential property together, they can apply for full ABSD remission. Here are the key conditions:

• The property must be purchased under both names of the couple.
• Both spouses must not own any residential property at the time of purchase.

In this scenario, if the couple meets these criteria, no ABSD will be payable.

Subsequent Property Purchase

For a married couple purchasing a second residential property, ABSD remission can be applied if the following conditions are met:

• The couple must include at least one Singapore Citizen spouse.
• The property must be purchased under both names of the couple.
• The couple must sell their first residential property within six months of the date of purchase of the second property if it is a completed property. For uncompleted properties, the sale must occur within six months of receiving the Temporary Occupation Permit (TOP) or Certificate of Statutory Completion (CSC).
• The couple must not own more than one residential property at any point in time.

If these conditions are not met, the ABSD remission will be revoked, and the couple will have to pay the ABSD along with interest.

Application Process

To apply for ABSD remission or refund, the couple must submit the necessary documents to the Inland Revenue Authority of Singapore (IRAS), including the marriage certificate, identity cards, the sale and purchase agreement, and proof of sale for the first property. The application for the refund must be made within six months after the sale of the first property.

In summary, for a married couple with a foreign spouse to benefit from ABSD remission, they must ensure that at least one spouse is a Singapore Citizen, the property is purchased jointly, and they comply with the specified timelines for selling their first property if applicable.