# ABSD Revisions to Support Seniors and the Built Environment Sector - **Source:** Ministry of National Development - **Published:** 2024-02-16T02:00:00.000Z - **Author:** Ministry of National Development - **Original:** https://www.mnd.gov.sg/newsroom/press-releases/view/absd-revisions-to-support-seniors-and-the-built-environment-sector - **Topics:** HDB & Public Housing, Private Residential, Government & Policy ## Featured rationale The concession may facilitate right-sizing among single seniors, potentially increasing movement from higher-value homes into less expensive private properties. ## AI summary From 16 February 2024, eligible single Singaporeans aged 55 or above can obtain an ABSD refund when replacing their home with a lower-value private property. ## Original article 1. The Government announced today the following changes to the Additional Buyer’s Stamp Duty (ABSD) regime: a. a new ABSD concession for single Singapore Citizen (SC) seniors purchasing a replacement private residential property; and b. revised ABSD remission clawback rates for housing developers (HDs). New ABSD Concession for Single SC Seniors 2. Today, buyers of HDB flats and new Executive Condominium units are not required to pay ABSD, if any of the joint acquirers or purchasers is an SC, as current regulations require them to dispose of their first property within 6 months of legal possession of their new flat. 3. An ABSD concession is accorded to married couples with at least one SC spouse, who jointly purchase a replacement private residential property. Under the concession, the couple can apply for a refund of ABSD, subject to conditions which include selling their first residential property within 6 months after (a) the date of purchase of the replacement unit if it is a completed residential property, or (b) the issue date of the Temporary Occupation Permit (TOP) or Certificate of Statutory Completion (CSC) of the replacement property, whichever is earlier, if the replacement residential unit is not completed at the time of purchase. 4. To better support single seniors who wish to right-size their residential property, the Government will extend the ABSD concession to single SCs aged 55 and above, for purchases on or after 16 Feb 2024. They will be able to claim a refund of ABSD paid on their lower-value replacement private residential property, if they sell their first residential property within 6 months after the: (a) Date of purchase of a replacement residential property, if it is a completed unit; or (b) Issue date of the TOP or CSC of the replacement residential property, whichever is earlier, if the replacement unit is not completed at the time of purchase. ABSD Remission Clawback Rates Revisions for HDs 5. Currently, licensed HDs purchasing residential land on or after 16 Dec 2021 are subject to 40% ABSD, comprising a (i) 5% non-remittable component; and (ii) 35% upfront remittable component. Licensed HDs who purchased residential land between 6 Jul 2018 and 15 Dec 2021 are subject to 30% ABSD, comprising a (i) 5% non-remittable component; and (ii) 25% upfront remittable component. 6. The 35% or 25% remitted upfront are currently clawed back fully with interest, if the following timelines are not met: a. Commence housing development within 2 years from the date of acquisition of the site; and b. Complete the housing development, and sell all housing units within 5 years from the site acquisition date. 7. To provide some flexibility for HDs to address the difficulties they may face in selling all units within the prescribed timelines, the Government will lower the ABSD remission clawback rate should HDs sell at least 90% of housing units in the development within 5 years from the land acquisition date, if the commencement and completion of housing development timelines are also satisfied. The reduction in the ABSD remission clawback rate will depend on the proportion of units sold by the HDs within the remission sale timeline. This will apply to projects on residential land acquired on or after 6 Jul 2018. The revised ABSD remission clawback rates are appended at Table 1. As HDs need to sell at least 90% of housing units to qualify for the lower ABSD remission clawback rate, this will continue to ensure housing supply is made available for sale promptly by HDs. Table 1: Revised ABSD remission clawback rates for projects depending on date of acquisition of residential site and proportion of units sold at the prescribed sale timeline (assuming commencement and completion of housing development timelines are met) Proportion of Units Sold (%) (Rounded down to nearest whole %) Proportion of Units Sold (%) (Rounded down to nearest whole %) Projects with residential land acquired between 6 Jul 2018 and 15 Dec 2021, subject to 30% ABSD with upfront 25% remission Projects with residential land acquired between 6 Jul 2018 and 15 Dec 2021, subject to 30% ABSD with upfront 25% remission Projects with residential land acquired on or after 16 Dec 2021, subject to 40% ABSD with upfront 35% remission Projects with residential land acquired on or after 16 Dec 2021, subject to 40% ABSD with upfront 35% remission ABSD Remission Clawback Applicable before 16 Feb 2024 (%) ABSD Remission Clawback Applicable before 16 Feb 2024 (%) ABSD Remission Clawback Applicable on or after 16 Feb 2024 (%) ABSD Remission Clawback Applicable on or after 16 Feb 2024 (%) ABSD Remission Clawback Applicable before 16 Feb 2024 (%) ABSD Remission Clawback Applicable before 16 Feb 2024 (%) ABSD Remission Clawback Applicable on or after 16 Feb 2024 (%) ABSD Remission Clawback Applicable on or after 16 Feb 2024 (%) 100 100 0 0 0 0 0 0 0 0 99 99 25 25 15 15 35 35 25 25 98 98 16 16 26 26 97 97 17 17 27 27 96 96 18 18 28 28 95 95 19 19 29 29 94 94 20 20 30 30 93 93 21 21 31 31 92 92 22 22 32 32 91 91 23 23 33 33 90 90 24 24 34 34 <90 <90 25 25 35 35 Note: ABSD remission clawback will continue to be subject to 5% interest per annum. More Information 8. For more details, please refer to www.iras.gov.sg. The Government will continue to adjust our policies as necessary to ensure that they remain relevant, and promote a sustainable property market. Issued by: Ministry of Finance and Ministry of National Development ## Chinese translation > Translation model: grok_cli ### 修订额外买方印花税以支持年长者与建成环境行业 1. 政府今日宣布对额外买方印花税（ABSD）制度作出以下调整： a. 为购买替换私人住宅物业的单身新加坡公民（SC）年长者设立新的额外买方印花税优惠；以及 b. 修订住房发展商（HD）的额外买方印花税减免追回税率。 单身新加坡公民年长者的新额外买方印花税优惠 2. 目前，组屋（HDB）及新建执行共管公寓（EC）单位的买家，只要任何联名收购人或买家为新加坡公民，则无须缴纳额外买方印花税，因为现行规定要求其在取得新组屋法定管有权后的6个月内出售其首个物业。 3. 至少一方配偶为新加坡公民的已婚夫妇，在联名购买替换私人住宅物业时，可享有额外买方印花税优惠。在该优惠下，夫妇可在符合条件的情况下申请退还额外买方印花税，条件包括在下列时点后的6个月内出售其首个住宅物业：(a) 若替换单位为已落成住宅物业，则为购买日期；或 (b) 若购买时替换住宅单位尚未落成，则为替换物业的临时入伙许可证（TOP）或法定完工证书（CSC）签发日期，以较早者为准。 4. 为更好地支持有意缩小住宅物业规模的单身年长者，政府将把额外买方印花税优惠延伸至年满55岁及以上的单身新加坡公民，适用于2024年2月16日或之后的购买交易。若其在下列时点后的6个月内出售首个住宅物业，则可就其较低价值的替换私人住宅物业申请退还已缴付的额外买方印花税： (a) 若替换住宅物业为已落成单位，则为购买日期；或 (b) 若购买时替换单位尚未落成，则为替换住宅物业的临时入伙许可证或法定完工证书签发日期，以较早者为准。 住房发展商额外买方印花税减免追回税率修订 5. 目前，持牌住房发展商在2021年12月16日或之后购买住宅用地，须缴纳40%额外买方印花税，其中包括 (i) 5%不可减免部分；以及 (ii) 35%可预先减免部分。在2018年7月6日至2021年12月15日期间购买住宅用地的持牌住房发展商，须缴纳30%额外买方印花税，其中包括 (i) 5%不可减免部分；以及 (ii) 25%可预先减免部分。 6. 若未能在以下时限内完成相关要求，目前获预先减免的35%或25%将连同利息被全额追回： a. 自取得地块之日起2年内开始房屋开发；以及 b. 自取得地块之日起5年内完成房屋开发，并售出所有住宅单位。 7. 为让住房发展商在规定时限内售出所有单位时面对困难时有一定弹性，政府将在住房发展商亦满足开工与完工时限的前提下，若其自土地取得之日起5年内售出开发项目中至少90%的住宅单位，则降低额外买方印花税减免追回税率。额外买方印花税减免追回税率的降低幅度，将取决于住房发展商在减免销售时限内售出单位的比例。此规定适用于2018年7月6日或之后取得的住宅用地项目。修订后的额外买方印花税减免追回税率载于表1。由于住房发展商须售出至少90%的住宅单位才有资格享有较低的额外买方印花税减免追回税率，此举将继续确保住房发展商及时将房屋供应投放市场销售。 表1：按住宅用地取得日期及在规定销售时限内售出单位比例划分的修订额外买方印花税减免追回税率（假设房屋开发的开工与完工时限均已满足） 售出单位比例 （%） （向下取整至最接近的整数百分比） 售出单位比例 （%） （向下取整至最接近的整数百分比） 在2018年7月6日至2021年12月15日期间取得住宅用地、须缴30%额外买方印花税且可预先减免25%的项目 在2018年7月6日至2021年12月15日期间取得住宅用地、须缴30%额外买方印花税且可预先减免25%的项目 在2021年12月16日或之后取得住宅用地、须缴40%额外买方印花税且可预先减免35%的项目 在2021年12月16日或之后取得住宅用地、须缴40%额外买方印花税且可预先减免35%的项目 2024年2月16日之前适用的额外买方印花税减免追回税率 （%） 2024年2月16日之前适用的额外买方印花税减免追回税率 （%） 2024年2月16日或之后适用的额外买方印花税减免追回税率 （%） 2024年2月16日或之后适用的额外买方印花税减免追回税率 （%） 2024年2月16日之前适用的额外买方印花税减免追回税率 （%） 2024年2月16日之前适用的额外买方印花税减免追回税率 （%） 2024年2月16日或之后适用的额外买方印花税减免追回税率 （%） 2024年2月16日或之后适用的额外买方印花税减免追回税率 （%） 100 100 0 0 0 0 0 0 0 0 99 99 25 25 15 15 35 35 25 25 98 98 16 16 26 26 97 97 17 17 27 27 96 96 18 18 28 28 95 95 19 19 29 29 94 94 20 20 30 30 93 93 21 21 31 31 92 92 22 22 32 32 91 91 23 23 33 33 90 90 24 24 34 34 <90 <90 25 25 35 35 注：额外买方印花税减免追回仍须按每年5%的利率计息。 更多信息 8. 更多详情，请参阅 www.iras.gov.sg。政府将继续视需要调整政策，以确保政策保持相关，并促进可持续的房地产市场。 发布机构：财政部与国家发展部