Does Singapore PR need to pay ABSD for buying the remaining percentage of decoupling condo unit

For Singapore Permanent Residents (PRs), decoupling a property involves transferring the share of one spouse to the other, which is treated as a purchase transaction. When a Singapore PR buys over the share of their spouse in a condo unit during the decoupling process, they are required to pay the Additional Buyer Stamp Duty (ABSD).

Specifically, a Singapore PR will be levied a 5% ABSD on the value of the share they are purchasing from their spouse, as this is considered their first property purchase in the context of ABSD rules. This applies even though it is a transfer within the existing property, as the IRAS treats this transaction as a purchase subject to ABSD.