No. of Public CPD Points: 2.0
Practice Area: Real Estate
Training Level: General
About the Programme
With the implementation of cooling measures and changes in stamp duty rates over the past several years, it is important for us to be equipped and adept in the knowledge and understanding of stamp duty treatment and its implications, in order to correctly advise our clients when navigating the complexities of property transactions while adhering to compliance requirements.
1. Overview of general stamp duty treatment and implications
- BSD, ABSD and SSD
- Definition of residential property (permitted use vs zoning)
- When a person is deemed to have acquired / disposed of his property
- Common industry mistakes / lapses encountered
2. Cases of stamp duty treatment in real life transactions
- Conveyance of partial / additional interest in existing residential property
- Exchange of properties
- Transfers to administrators/executors and to beneficiaries of deceased estates
- Mixed use properties (e.g. shophouses with living quarters)
- Non-residential / mixed-use development on residential land
- Mortgagee sales
- Anti-tax avoidance provision under Section 33A
3.Common stamp duty remissions
- Stamp Duties (Matrimonial Proceedings) (Remission) Rules
- Stamp Duties (Spouses) (Remission of ABSD) Rules
- Stamp Duties (HDB Flats and Executive Condominium Units) (Remission of ABSD) Rules
- Stamp Duties (Transfer of Interest in Property which Buyer has Interest) ABSD remission.
- Stamp Duties (Section 22A) Order
- Stamp Duties (Conveyance Direction) (Remission) Rules
- Stamp Duties (Exempt Instruments Under Section 22A) Rules
- ABSD Remission for Housing Developers
- This course will focus on deepening conveyancing professionals’ knowledge of stamp duty rules and treatment governing common real estate transactions, as well as equipping participants with practical handles to advise their clients more effectively.
- The course will also touch on common industry mistakes / lapses encountered by IRAS, as well as common stamp duty remissions, industry best practices, and professional liability and risk for legal practitioners.
- Conveyancing professionals will be equipped with practical and applicable stamp duty knowledge so that they can navigate today’s increasingly complex stamp duty landscape with greater confidence.
- Common stamp duty mistakes and lapses will be highlighted for greater awareness for conveyancing professionals to learn from and adopt best practices.
- Noel Wong – Manager (IRAS – Valuation & Stamp Duty Branch)
- Gerlyn Yip – Principal Tax Officer (IRAS – Valuation & Stamp Duty Branch)
- Lee Liat Yeang – Senior Partner, Dentons Rodyk & Davidson LLP
For more information, please click here for the publicity brochure.
For other CPD events, please visit the LawSoc CPD Portal.