Asked by Anonymous
If a 5 room flat is value at 535K, how much stamp duty do i need to pay?
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2 Answers
A quick way to calculate stamp duty fee for property that is min $360,000 is to take 3% of the purchase price - $5,400 i.e. (3% of $535,000) - $5,400 = $10,650
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Dear Flat buyer,
Good day
Jeron is right, the stamp duty fee formula is correct.
However, the IRAS stamp duty fee is calculate base on purchase price not just the valuation price (whichever is higher).
In this case, for your purchased 5-room flat you need to factor in the cash over value (COV) to your final calculation for stamp duty fee.You may want to make use your CPF ordinary Account fund, payable within 14 days after your HDB 1st appointment.
Best Regards,
Jonathan Tong (R013453A)
OrangeTee.com Pte Ltd.
Mobile : 97822848 . DID 63002213 .
Email : jonathan.tong88@gmail.com Read More
Good day
Jeron is right, the stamp duty fee formula is correct.
However, the IRAS stamp duty fee is calculate base on purchase price not just the valuation price (whichever is higher).
In this case, for your purchased 5-room flat you need to factor in the cash over value (COV) to your final calculation for stamp duty fee.You may want to make use your CPF ordinary Account fund, payable within 14 days after your HDB 1st appointment.
Best Regards,
Jonathan Tong (R013453A)
OrangeTee.com Pte Ltd.
Mobile : 97822848 . DID 63002213 .
Email : jonathan.tong88@gmail.com Read More