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Can I inherit my father's private property after he pass away and keep it if my wife and I already owned 2 other private properties in Singapore? If so, do we need to pay any taxes?

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5 Answers

Dear sir,

Quoted from https://singaporelegaladvice.com/law-articles/stamp-duty-payable-inheriting-property/.

Inheritance tax (i.e. tax charged on the total market value of the assets of someone who has died) was abolished in Singapore on 15 February 2008. This applies to all assets, including property. However, this does not mean that there are zero fees to pay if you inherit a residential property in Singapore as there may be stamp duties.

Stamp duties are taxes on the purchase of a property. Generally, there is no stamp duty owed for inheriting a property in Singapore if:

- It was a residential property; and
- You inherited it via a valid will, the Intestate Succession Act, or the Administration of Muslim Law Act.

Otherwise, it may be considered a gift or a sale and attract the necessary stamp duties.

Hope the above helps.

Warmest regards,
Geryl Lim
Associate Deputy Group Director
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Hi,

Generally if a valid will was made by the owner of the residential property when he is still around, and you inherited it via a valid will, the Intestate Succession Act, or the Administration of Muslim Law Act, generally there will not be Buyer stamp duties involved. ABSD is not applicable for inherited properties.

Inheritance Tax (usually for inherited assets such as property) has been abolished till date, hence it also not applicable.

Hope the above clarifies. May I have more info and requirements about your plans so as to make better recommendations? Thanks and look forward to value-add to your housing plans.

Warm Regards,

Ivan Ng Realtor
ERA Senior Marketing Director
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Dear Sir,

Under the current rules and regulations, there is no inheritance tax that is imposed when you inherit a property. However, there have been talks recently for the government to introduce some form of wealth taxes.

Please feel free to contact me so that I can understand your concerns and assist you further!

Regards,
Nick Tan
(M) +65 9644 4854 
B.Eng(Chemical)(Hons)(NUS) / Cert-in-REA
(E) nick96444854@gmail.com
SEAA Salespersons Achievement Platinum Award 2020

Visit my website to get to know me better:
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I was featured recently on Council for Estate Agencies (CEA) Newsletter:
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Testimonial from Satisfied Clients
“I would like to recommend Nick Tan from SRI. Before we engaged Nick, we were working with another agent from a very popular property agency in February 2017. We decided to terminate the contract after 5 weeks of zero viewings and no paper advertisements. Basically he was just waiting for phone calls. We engaged Nick on 20th April and by 10th of May, our unit was sold off. Why Nick? 1. He has good marketing strategies 2. He always kept us posted on what he did (communications!) 3. He made sure we understand the current market situation but he will consistently reassure us that the unit can be sold off 4. He is not greedy and trusting 5. He walks the talk”
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I write to commend Nick Tan (R040814C). When my husband and I first met Nick, we were impressed by his drive, commitment, business acumen and strategical thinking, and decided to engage him. We were not disappointed. Nick sourced for prospective quality buyers in a targeted methodical fashion and was effective in connecting us with serious buyers, notwithstanding the fact that the search primarily took place over Dec – Feb (a traditional lull period). Throughout the transaction, he also gave us helpful advice in various aspects; the advice reflected his personal experience and expertise and was not simply regurgitated from public sources without any value-add. Further, Nick went beyond the call of duty of a competent professional. He had a sense of humanity in the way he interacted with myself and the other parties to the transaction such as my parents. As an example, my newborn daughter was warded into A&E on the completion date of the transaction; the care and concern that Nick showed went beyond the scope of work of an estate agent. I commend Nick for his capabilities and character, and would certainly wish to engage him for future property transactions.
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Robbie Chen Chee Howe
Hi Sir,

Yes, you're able to inherit your Father's private property, no matter how many properties you currently own.

Also, do take note that there is no Stamp Duties for inherited properties.

I am experienced and well-versed in both HDB and private transactions. I will be able to assist you in your property plans. Please get in touch with me for a more in-depth discussion.

Should you need require further assistance in matters relating to property, please contact me at my mobile 9748 6305  . I will be happy to assess and share with you the possibilities for you in the current market.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More
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Hi,

1) There is no inheritance tax imposed at the moment.
2) Buyer stamp duty and ABSD are not applicable for inherited property.
3) Whether or not your father leaves a will or no will on the wealth distribution. The above (1) & (2) are still applicable.
4) The above is still applicable despite you are owning multiple properties.

Hope the above answer your main concerns, but if there are more query, please feel free to contact me at 90110636  , or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.

Best regards
Ling CK
 90110636 
ling.ck7@gmail.com
https://R056727F.propnex.net/
https://www.facebook.com/Homesellerbuyer

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