BUYING A PROPERTY
How does Additional Buyer’s Stamp Duty (ABSD) affect you?
As part of cooling measures introduced by the Government (which is not expected to be lifted soon), additional stamp duty is payable when you purchase a second or subsequent property. Details of the revenue payable to IRAS are found here.
The calculation of whether you are liable for ABSD includes fractional interests in the property which you may own with someone else.
Tan & Au LLP offers a unique solution
One way to minimize ABSD is to buy the property in the name of the junior members of your family who do not own any property.
However, there are issues involved. Do feel free to make an appointment to consult for further assistance.