By MoneyBees
Stamp duty on a tenancy agreement: 0.4% of total rent for leases up to 4 years or of 4 times the average yearly rent beyond, the 14-day deadline and late penalties.
For a lease of 4 years or less, it is 0.4% of the total rent for the whole lease, rounded down to the dollar. A 2-year lease at S$3,000 a month has S$72,000 of rent and S$288 of duty. Leases with an average yearly rent of S$1,000 or less are exempt.
Duty is 0.4% of 4 times the average annual rent. IRAS's example: a 5-year lease with S$151,200 of rent has an average of S$30,240 a year, 4 times that is S$120,960, and the duty is S$483.
The tenant, unless the tenancy agreement says otherwise. Landlords need the Stamp Certificate to take legal action over disputes such as unpaid rent, so they usually check it has been paid.
Within 14 days after signing if the agreement is signed in Singapore, or within 30 days after receiving it in Singapore if it is signed overseas.
Up to 3 months late: S$10 or the duty, whichever is more. More than 3 months late: S$25 or 4 times the duty, whichever is more. The penalty is on top of the duty.
Yes. Furniture and fittings, maintenance, service, advertising and similar charges in the agreement count as rent. GST does not.
Ask the tenant for the Stamp Certificate. IRAS lets you check that it is genuine at go.gov.sg/verifystampcertificate.
Yes. IRAS says a tenancy accepted through a property app still creates an electronic document that is chargeable with stamp duty.
Junxiong-WFG Organisation is an authorised representative of AIA Financial Advisers Private Limited (Reg. No. 201715016G).