Rental Stamp Duty Calculator Singapore
Rental Stamp Duty Calculator Singapore. This Web App will assist you to Calculate Residential / Commercial Lease Stamp Duty amount payable to IRAS , by inputting the lease Period in Year or Month , Monthly Rental Amount , ( Gross Turn Over, Service Charges , Ads and Promo Monthly Expenses) for Commercial Lease.
Singapore Rental Stamp Duty Calculator
Complete Guide For Rental Stamp Duty Payment Calculation and Processing
What is Rental Stamp Duty and Why we need to Pay?
Stamp Duties are taxes that Tenant/ Owner need to Pay to IRAS ( Inland Revenue Tax Authority Singapore ) on top of the Tenancy Agreement stated amount. Whether you are renting a whole residential / Commercial unit or a room ,in order for the Tenancy Agreement to come into Effect as a valid Contract , Stamp Duty need to be paid.
Who will Pay ?
Normally Tenant are the one which is obligated to pay. However in some cases , Payment can be negotiated with Landlord to bear the Stamp Duty Cost.
Which ever Party who paid , should be stated clearly in the tenancy agreement to avoid future dispute.
Just Incase there is a dispute both Party can Refer IRAS Guideline over Here
How Much Stamp Duty Base on Tenancy Agreement you will need to Pay?
There are two types of Tenancy Stamp Duty
(a) Residential Lease Stamp Duty
(b) Commercial Lease Stamp Duty
Residential Stamp Duty Payment Calculation
The Rental Stamp Duty Calculator Singapore on top , will help you calculate Residential leaseStamp Duty.
For Residential Lease, The Stamp Duty amount that need to be paid , is calculated base on few Variables. The First Variables is the monthly Rental Cost, follow by , duration of lease stated on the tenancy agreement.
The Below Table shows the Criteria need for computation of the Stamp Duty Cost.
Tenure(Months) |
BOARD RATES % (p.a.) |
AAR does not exceed $1,000 |
Exempted |
AAR exceeds $1,000 |
|
Lease period of 4 years or less |
0.4% of total rent for the period of the lease |
Lease period of more than 4 years or for any indefinite term |
0.4% of 4 times the AAR for the period of the lease |
AAR => Annual Average Rental Income
Example 1: Lease Period 4 Years
Lease Period : 4 Years
First Year Monthly Rental : S$1500
Second Year Monthly Rental : S$ 1600
Third Year Monthly Rental: S$1700
Fourth Year Monthly Rental : S$1800
Step 1->>>>
Calculate Total Rental Income for 4 Years
Total Rental Income For 4 Years = [ ( S$1500) + ( S$1600) + ( S$1700) + ( S$1800) ] x 12 = S$79200
Step 2->>>>
Calculate AAR
AAR = S$79200 / 4 Years
AAR = S$19800
Step 3->>>>
Calculate Rental Stamp Duty
Stamp Duty = S$79200 x [0.4 /100] = S$316.80
Example 2: Lease Period 6 Years
Lease Period : 6 Years
First Year Monthly Rental : S$1500
Second Year Monthly Rental : S$ 1600
Third Year Monthly Rental: S$1700
Fourth Year Monthly Rental : S$1800
Fifth Year Monthly Rental : S$1900
Sixth Year Monthly Rental : S$2000
Step 1->>>>
Calculate Total Rental Income for 4 Years
Total Rental Income For 6 Years = [ ( S$1500) + ( S$1600) + ( S$1700) + ( S$1800) + ( S$1900)+ ( S$2000)] x 12 = S$126 000
Step 2->>>>
Calculate AAR
AAR = S$126000 / 6 Years
AAR = S$21000
Step 3->>>>
Calculate Rental Stamp Duty
Stamp Duty =4 Times AAR x 0.4%= S$21000 x 4 x [ 0.4/100] = S$336
Commercial Stamp Duty Payment Calculation
The Rental Stamp Duty Calculator Singapore on top , will help you calculate Commercial lease Stamp Duty.
For Commercial Lease, The Stamp Duty amount that need to be paid , is calculated base on few Variables. The First Variables is the monthly Rental Cost, follow by , duration of lease stated on the tenancy agreement, Monthly Gross Turn Over x 0.5% , Unit Up keep Service Charges, Ads and Promotion Charges
The Below Table shows the Criteria need for computation of the Stamp Duty Cost.
Tenure(Months) |
BOARD RATES % (p.a.) |
Lease period of 4 years or less |
0.4% of total rent for the period of the lease |
Lease period of more than 4 years or for any indefinite term |
0.4% of 4 times the AAR for the period of the lease |
AAR => Annual Average Rental Income
Other Expenses Need to be Bared by Tenant for Commercial Lease
Expenses Descriptions |
Rate |
| Gross Turn Over Fractional | 0.5% of Monthly Gross Turn Over ( Depends on Land Lord) |
| Service Charges | Depends On Land Lord |
| Monthly Advertising & Promotion Charges | Depends On Land Lord |
Example 1: Lease Period 1 year
Lease Period : 1 Years
First Year Monthly Rental : S$6000
Average Monthly Turn Over : S$100000
Additional Rental : 0.5% of GTO
Monthly Service Charges : S$400
Monthly Advertising and Promotional Charges : S200
Step 1->>>>
Calculate Total Rental Income for 4 Years
Total Rental Income For 4 Years = S$6000 x 12 = S$72000
Additional Rental Total = 0.5% x GTO x 12 = 0.5% x S$100000 x 12 =S$4800
Monthly Service Charge Total = S$400 x12 = S$4800
Monthly Advertising and Promotional Charges Total : S200 x 12 = S$2400
Total Rental + Miscellaneous Charges = S$72000 +S$4800 +S$4800+ S$2400 =S$84000
Step 2->>>>
Calculate AAR
AAR = S$84000
Step 3->>>>
Calculate Rental Stamp Duty
Stamp Duty = S$84000 x [0.4 /100] = S$336
When to Pay stamp duty?
The Normal Practice is, Stamp Duty need to be paid before Signing the Tenancy Agreement .However there are no penalty impose if the stamp Duty is being paid after 14 days of the Tenancy Agreement Signed date in Singapore. For Oversea the deadline will be 30 days.
Penalty of Not Paying Stamp Duty?
Is an Offence not paying stamp Duty
A penalty of up to 4 times may be imposed on documents that are unstamped, stamped late or insufficiently stamped.
Late payment penalty of rental stamp duty?
No Exceeding 3 Months ->Penalty of $10 or an amount equal to the duty payable, whichever is greater
Exceeding 3 Months -> Penalty of $25 or 4 times of the duty payable, whichever is greater
Paying Stamp Duty Online
1. Login Singpass on the IRAS e-Stamping portal
2. Select the “Payments and Transactions”
3. Enter your Search criteria
4. Key in your Credential and Make Payment
5. Print your Payment Slip and Save it
6.Save your Stamp Duty E Certificates
Documents Needed to Pay Stamp Duty
1. Sing Pass Account
2. Tenancy agreement
3. Identity details for and landlord
Visit a Physical Location to Get your Tenancy Agreement Stamped and Paid Off the Stamp Duty
Prior to that you can use the Rental Stamp Duty Calculator Singapore app at this site , to estimate the amount of Stamp Duty you might need to pay.
Physical Location
Branch |
Address |
Opening Hours |
| Novena Post Office | Revenue House 55 Newton Road #01-02 Singapore 307987 |
Mon – Fri: 8.30am – 5.30pm
Sat: 8.30am – 1.00pm |
| Raffles Place Post Office | Ocean Financial Centre 10 Collyer Quay #B1-11 Singapore 049315 |
Mon – Fri: 8.30am – 6.00pm |
| Shenton Way Post Office | Downtown Gallery
6A Shenton Way #03-23 Singapore 068815 |
Mon – Fri: 8.30am – 6.00pm
Note: Closed until further notice. |
| Chinatown Post Office | People’s Park Centre
101 Upper Cross Street #B1-17A Singapore 058357 |
Mon – Fri: 9.30am – 6.00pm
Sat: 9.30am – 2.00pm |
Other Options to Pay Stamp Duty
Prior paying Stamp duty online, you can use the Rental Stamp Duty Calculator Singapore web App to estimate the amount of Payment.
Source
FAST via DBS/ POSB Account ->
Must have a DBS/ POSB personal bank account (i.e. non-corporate account)
AXS Kiosk (Nets only)
AXS Mobile and Website
eNETS
Must have Internet Banking Account for UOB, OCBC
DBS/POSB,
Cheque / Cashier’s Order
Refer IRAS Website
GIRO
- Only for CorpPass/ SingPass users
- You must have a dedicated e-Stamping GIRO account
- Complete the GIRO Application Form for Stamp Duty and mail to this address
- Read further instructions on IRAS website
Cash
Pay at Singpost Branches
Check out Buyer Stamp Duty Calculator Here