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if a person wish to transfer his 25% shares of a private Tenancy In Common property (Condo) in Singapore from inheritance, can he transfer them as Gift or Trust to avoid Stamp Duties & Taxes ?
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4 Answers

Hi,

1) There is no tax applied on the inheritance of property.
2) But if you receive for example 100% of the property and intent to pass part of the share to someone else. Tax is avoidable.
3) Transfer shares of a property part or whole as a gift shall be subject to a gift tax which is equivalent to the property conveyance.
4) Setting up a trust instrument to accept part or whole of the property is also subject to buyer stamp duty. If the beneficiary is liable for additional buyer stamp duty, then it will be applicable as deemed it is buying over the share.

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
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https://R056727F.propnex.net/
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Good morning,

Generally, there is no inheritance tax for inherited property through a legal will. For transfer of your share ownership, the relevant seller's and buyer's stamp duties will still be applicable regardless whether it is a transfer by gift or by trust, as IRAS will determine that based on the market value of the share transferred.

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.

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Ivan Ng Realtor
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Dear Sir/Mdm,

Transfer by way of gift or trust will still be subjected to the same stamp duties that is based on 25% of the current market value of the property.

Please feel free to contact me if you need any further clarifications.

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:
www.nicktan.com.sg

I was featured recently on Council for Estate Agencies (CEA) Newsletter:
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Robbie Chen Chee Howe
Hi,

Stamp duties are payable for transfer by way of gift. Only inheritance is not subjected to taxes.

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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