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BSD and ABSD are computed against Purchase Price or Market Value, whichever is higher (exclude GST) -- does this mean to compute these stamp duties, IRAS need to see the valuation report (I believe these report is only applicable to those taking a bank loan or using CPF right)?

So if the purchase price agreed for an HDB resale flat is 500K, and HDB valuation report says 550K.Should BSD/ABSD computed against 550K? Is this correct?
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2 Answers

Daniel Tan
Replied
Hello Mdm!

Good day to you!
I’m Daniel Tan from Huttons.

BSD and ABSD will computed based on actual transacted price or market valuation of the property whichever is the higher.

Therefore in this case, the S$550K will be used to computer the BSD and ABSD.

Any other queries?
Please always feel free to contact me for a non-obligated discussion on how I can assist you with your real estate needs.

Have a great day ahead.

Best Regards

Daniel Tan
Huttons Asia Pte Ltd
 (+65) 94775100 
daniel.tck@outlook.com Read More
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Ivan Ng
Replied
Hi Mrs. Ingrid,

Yes BSD and ABSD is calculated based on transacted price or market value, whichever is higher. In your case, 550K.

Valuation report is required if buyer is using CPF or taking hdb/bank loan. Thus most cases will need it.

May I know if you need any assistance? Thanks and hope it clarifies.

Warm regards,
Ivan ERA
 97432395 
Ivanng10@gmail.com Read More
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