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Paper 2 · Lesson 5 — Collective Sale, Private and HDB Leasing, Foreign-Worker Housing, Lease Stamp Duty and AML/CFT

Lease stamp duty

Stamp duty on a lease / tenancy: the charge by average annual rent and term, who is liable, e-stamping and timing, and late-stamping consequences.

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Question 1

A tenant signs a 24-month lease of a private unit at $2,500 a month, inclusive of all charges, and the agent checks the duty on the total rent for the term, the lease being within four years. On the tenancy stamp duty, which statement is correct?

  1. A. It is $240, being 0.4% of the $60,000 total rent for the whole term.
  2. B. It is $120, being 0.4% of half the $60,000 total rent for the term.
  3. C. It is $600, being 1% of the $60,000 total rent for the whole term.
  4. D. It is $480, being 0.4% of twice the $60,000 total rent for the term.
Show the answer and full explanation

Answer: A

The rule. For a lease of four years or less, duty is 0.4% of the total rent.

Why A is correct. Total rent = $2,500 × 24 = $60,000; duty = 0.4% × $60,000 = $240; the 24-month term is within four years, so the whole-rent basis applies.

The other options.

  • B $120 uses half the rent base.
  • C $600 applies 1%.
  • D $480 doubles the rent base.

Exam note. 24 months is within four years — 0.4% of the full $60,000.

For a lease of four years or less, duty is 0.4% of the total rent →

Practise it under exam conditions

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