Stamp duty for tenancy agreement – HDB flat for rent Singapore
The market practice is for the Tenant to pay for the stamp duty for the tenancy agreement. The Tenant’s agent is normally the person to get the tenancy agreement stamped. This is done by bringing the tenancy agreement together with the stamp fee to the housing agency to stamp. Normally the Estate Agent will do the stamping through the internet system linked to IRAS called e-stamping. HDB flat for rent Singapore.
With effect from 22 February 2014, the lease stamp duty rates are as follows:
- Where the average annual rent does not exceed $1,000, lease stamp duty is exempted.
- For lease of 4 years or less, the lease stamp duty is 0.4% of total rent for the period of the lease (rounded down to the nearest dollar).
- For lease of more than 4 years, the lease stamp duty is 0.4% of 4 times the average annual rent for the period of the lease (rounded down to the nearest dollar).
Sample calculation:
Calculate lease stamp duty for a 3 year lease at $2,500 per month for the 1st year, $3,000 per month for the 2nd year and $3,500 per month for the 3rd year.
Total rent = $2,500 x 12 + $3,000 x 12 + $3,500 x 12 = $108,000
Lease stamp duty = 0.4% x $108,000 = $432
Tenant shall pay utility supply bill, tele-communication bill and Singapore cable-vision facilities charges (if any). Tenant is to engage a contractor to service all air-conditions in the premises every 3 month as agreed in the Tenancy agreement. HDB flat for rent Singapore.
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