If this is not the case, the address of the tenant is to make the stamp. It is advisable to inform him in order to show the evidence in the form of a receipt as soon as he does so. Stamp duty is a tax on documents related to the purchase or rental of a property. It is payable within 14 days of the date of the document (z.B: sales contract, lease); if the document is signed in Singapore. For rents of no more than 4 years, stamp duty is 0.4% of the total rent for the duration of the tenancy. Here is an example of a 24-month (2-year) lease with a monthly rent of $2,500: this article is misleading. Room rentals must also be stamped. Please read the IRAS website before publishing. However, there is a faster way to do this when using your computer. You can use the stamp tax calculator available on the IRAS website and enter the corresponding figures such as the length of the rent, the monthly rental price and, if applicable, all other figures. In the event of a delay of no more than 3 months, a fine of USD 10 or an amount equal to the tax payable will be imposed, depending on the highest amount. Technically, a rental agreement is required, which must be stamped before the tenant signs it.
But this almost never happens in practice. In reality, a lease can always be stamped without penalty if it is carried out within the following deadlines: If the lease is signed in Singapore, the period to avoid a penalty will be within 14 days of signing the lease. After signing the rental agreement, the tenant is responsible for paying stamp duty so that the contract is compulsory and effective. Although all appropriate care has been given to the accuracy of the information and calculation, Ming Property and its employees are not responsible for the losses and inconveniences. Please see all the decisions. For comments, please contact us here. Stamp duty must be paid on the consideration or market value of the rental interest transferred, depending on the higher amount, at the BSD rates. (i) A fixed rent and an additional rent based on a percentage of gross sales (GTO), without a maximum or minimum guaranteed amount If the average annual rent exceeds one thousand Singapore dollars and the rental period does not exceed 4 years, the stamp duty formula is 0.4% of the total rent for the entire rental period. The owner will not have an easy life either. As the lease is not recognized by the authorities, he could be charged for the illegal rental of his house.