Additional conveyance duties for stake transfers of property-holding entities into living trusts

Finance Minister Lawrence Wong has introduced a bill to amend the Stamp Duties Act to help plug gaps in existing policies. Effective Tuesday, additional conveyance duties will apply to the transfers of shares of property-holding entities into living trusts. This comes a day after a new additional buyer's stamp duty went into effect. This 35% will be payable for all residential property transferred into living trusts, regardless of whether a beneficiary has been identified or not.



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[crystalong]

Now so many new property very high prices 😅 Thankyou 👍🏻👍🏻👍🏻👍🏻

[farrahkong]

I have no clue about this stuff. But I try.

Revised:
One day after the Additional Buyer's Stamp Duty of 35% went effective, Finance Minister Lawrence Wong introduced an amendment to the Stamp Duties Act (the bill/law) to plug the gap. From next Tuesday, there will be Additional Conveyance Duties on the transfer of Property Holding Entities (PHEs) to a living trust, whether the beneficiary is named or not.

[deschan]

Find ways and means to squeeze from people again? Is this what we hv voted for?

[dayylogg]

Whatever happened to the buildings in Ukraine can also happens anywhere during the great war. There are no safe haven in WW3 especially if a nation possessed nuclear weapon or host to foreign military base. These nations will have to be decimated in the event of a strategic nuclear war.

[anziar]

That's a very capable and responsible s'pore govt. ❤️❤️❤️