Thursday, August 26, 2010

Quick way to calculate stamp duty for purchase/buying Singapore Property

First $180,000 at 1%
Next $180,000 at 2%
Thereafter, 3% for remaining property price

For property price more than $360k,
a 'short-cut' method is to consider the 3% rate,
then subtract the 1% of 180K and 2% of 180K which works out to be $5,400.

Example:
Property Price = $1,000,000

Stamp duty calculation
(3% * $1,000,000)- 5,400
= $24,600

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