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We've just made some amendments to "Chapter 9 - Taxes on Pty" and "Chapter 10 - Pty Finance & Finance Calculations".
They include:
1. Higher Marginal Buyer’s Stamp Duty Rates announced by Deputy Prime Minister Lawrence Wong during the annual Budget speech in Parliament on Tuesday (14 February)
For Residential Properties: The portion of the value of the property in excess of S$1.5 million to S$3 million will be taxed at 5%, and the value of the property in excess of S$3 million will be taxed at 6%. The current rate for both tiers is at 4%.
For Non-Residential Properties: The portion of the value of the property in excess of S$1 million and up to S$1.5 million will be taxed at 4%, and the value of the property in excess of S$1.5 million will be taxed at 5%. The current rate for both tiers is at 5%.
2. Increase in CPF Housing Grants announced by Deputy Prime Minister Lawrence Wong during the annual Budget speech in Parliament on Tuesday (14 February)
$80,000 for First-Timer families buying a 4-room or smaller resale flat (up from $50,000)
$50,000 for First-Timer families buying a 5-room or larger resale flat (up from $40,000)
$40,000 for First-Timer singles buying a 4-room or smaller resale flat (up from $25,000)
$25,000 for First-Timer singles buying a 5-room resale flat (up from $20,000)
Send an email to "hello@restutor.com" and we'll send you the updated Mind Map!