Stamping Rental Agreement Singapore
October 8, 2021
We have discussed some of the most important issues regarding rental stamp duty. We hope you find it useful. According to IRAS, the party that is required to pay the rent stamp duty is usually stated in the agreement. A premium lease is a lease for which there is a lump sum payment. Stamp duty must be paid on the premium on the basis of BSD rates. If, in addition to the premium, rent is made, the rent must be paid by stamp duty based on the tax rates of the lease. If your monthly rental fee is 2000 $US, here you will find an example of a calculation to get the amount of the fee: the tenants are rightly the ones who pay the stamp duty. The party that is required to pay stamp duty is usually stated in the agreements. For example, if you are renting real estate, the rental agreement should indicate who must pay the stamp duty.
Source: IRAS. (This also applies if you can negotiate well, the landlord can refund or pay the amount of stamp duty for you, but the payment should always be made in the name of the tenant). Do you use an agent to get in touch with the tenant, and does the tenant have an agent? If this is the case, agents are advised to make this part of the agreement. It is an offence to use a lease if your stamp duty has not been collected. The authorities (and the landlord) can take action against tenants who do not pay on time or who are completely unaware of the payment. After you have made sure that your singapore house rental is legal, you have 10-14 days from the start of the rental to pay the stamp duty. Rental stamp duty is calculated on the actual rent or market rent, whichever is higher. If this is not the case, it is up to the tenant to make the stamp. It is advisable to inform him in order to provide proof in the form of a receipt once he has done so. If tenants choose to stamp their documents themselves, they can do so as they please via the IRAS website…