Eligible profiles
For the current table, an SC owning two residential properties can reduce ABSD from 30% to 20%; an SPR owning one can reduce 30% to 5%; an SPR owning two can reduce 35% to 30% for instruments from 27 April 2023. The interest must be in one property the buyer already owns. Partnership property is excluded, and instruments from 9 May 2022 cannot involve property held on trust.
Joint buyers and application
Among relevant joint individuals, use the highest post-remission rate; other joint transferees must have a lower applicable rate than the relevant individual before remission. BSD remains payable. Claim when stamping, or request assessment with the liable instrument and ABSD declaration if remission was omitted; complete requests generally take two months.
Official source
A concise, independent Apex Gateway guide based on the official English source, not a reproduction of the complete document. Consult the original for full conditions, exceptions and subsequent updates.
Read the official source ↗