Effect of non-stamping – Factory for sale Singapore
- Document cannot be used as evidence in court.
- Late stamping penalty:
- Minimum of S$10, if less than 3 months from due date
- Minimum of S$25 or up to 4 times duty payable, whichever is the higher, if more than 3 months from due date.
Refund of Stamp Duty
Circumstances where a refund can be given.
Not all documents that are aborted or cancelled are eligible for a stamp duty refund. A refund is only allowed on documents, which have been rescinded or cancelled, due to the reasons provided under Section 22(6) and Section 57 of the Stamp Duties Act (Cap 312). Factory for sale Singapore.
Refund claim on penalty paid on the document will not be granted unless the document is not subject to payment of stamp duty in the first instance (for example, a document is exempted from stamp duty but had been stamped which included a penalty, the stamp duty and penalty will be refunded).
Claim for refund on rescinded or aborted Sale & Purchase Agreements
- Vendor is unable to prove his title to the property. Factory for sale in Singapore
- A purchaser, being a foreign person, is unable to obtain approval under the Residential Property Act (Cap 274) to acquire or purchase the property
- The property is acquired or proposed for acquisition by any public authority pursuant to the provisions of any written law authorizing or empowering the public authority to acquire the land compulsorily
- The purchase of the property is conditional upon permission by the competent authority to develop or subdivide the property and such permission is refused
- Either vendor or purchaser fails to obtain the approval of any public authority to sell or purchase the property
- The Commissioner of Building Control made an order under Section 24 of the Building Control Act (Cap 24) in respect of the property
- Strata Titles Board refused an application for the sale of the property under Section 84A, 84D, 84E or 84FA of the Land Titles (Strata) Act (Cap 158)
For rescinded or cancelled documents, you are required to submit the original and duplicate documents to the Commissioner of Stamp Duties for cancellation. Factory for sale Singapore
If you do not qualify for a refund claim, under Section 22(6), an application for Stamp Duties (Aborted Sale and Purchase Agreements) (Remission) Rules 2005 may be made.
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