Take a residential purchase at S$1,500,000, the higher of price or market value. Buyer’s Stamp Duty is charged in progressive bands, so the price is sliced and each slice taxed at its own rate. The first S$180,000 is taxed at 1 percent, giving S$1,800. The next S$180,000 is at 2 percent, adding S$3,600. The slice from S$360,000 to S$1,000,000, which is S$640,000, is at 3 percent, adding S$19,200. The final slice from S$1,000,000 to S$1,500,000, which is S$500,000, is at 4 percent, adding S$20,000.
Adding the four slices gives S$44,600 of BSD, an effective rate of about 2.97 percent on the S$1,500,000 price. This is the duty every buyer pays. If the buyer already owns property, is a permanent resident, a foreigner or an entity, Additional Buyer’s Stamp Duty sits on top of this figure and can dwarf the BSD itself.
Price slice
Rate
Duty
First S$180,000
1%
S$1,800
Next S$180,000
2%
S$3,600
S$360,000 to S$1,000,000
3%
S$19,200
S$1,000,000 to S$1,500,000
4%
S$20,000
Total BSD
2.97% eff.
S$44,600
How it is calculated
Buyer’s Stamp Duty is a progressive duty on the higher of the purchase price or the market value of residential property. The value is divided into bands and each band carries its own rate: 1 percent on the first S$180,000, 2 percent on the next S$180,000, 3 percent up to S$1,000,000, 4 percent up to S$1,500,000, 5 percent up to S$3,000,000 and 6 percent above that. Because only the portion of price inside each band is taxed at that band’s rate, the effective rate rises smoothly with price rather than jumping. BSD is payable by every buyer within 14 days of signing. Additional Buyer’s Stamp Duty, which depends on residency status and how many properties you own, is calculated separately and added on top.
Frequently asked questions
Is BSD the only stamp duty?
No. Buyers Stamp Duty applies to every property purchase. On top of it, Additional Buyers Stamp Duty (ABSD) applies to second and later residential properties, permanent residents, foreigners, and entities. Use the ABSD calculator for that portion.
When do I have to pay BSD?
Under the Stamp Duties Act, BSD must be paid within 14 days of signing the Sale and Purchase Agreement, or within 30 days if the document is signed overseas. IRAS can impose penalties of up to four times the unpaid duty for late payment. The duty is based on the higher of the purchase price or the market value determined by the Chief Assessor.
Do BSD rates apply to HDB flats as well?
Yes. The same progressive BSD bands apply to HDB flat purchases, Executive Condominiums, private condominiums, and landed property. There is no exemption for HDB resale flats or new BTO units sold under an Agreement for Lease. First-time Singapore Citizens buying HDB flats face no BSD exemption, though CPF Ordinary Account savings can be used to pay the duty.
How do the 2023 BSD rate changes affect me?
From 15 February 2023, IRAS introduced two higher bands: 5 percent on the portion of residential property value between S$1.5 million and S$3 million, and 6 percent above S$3 million. Before that change only four bands existed with a maximum rate of 4 percent. Buyers who signed their Sales and Purchase Agreements before 15 February 2023 under transitional relief rules retained the old four-band schedule, but any agreement signed on or after that date uses the current six-band table.