Introduction After the Singapore Budget 2022 was announced, an increment in wealth taxes across the board can be observed. In this newsletter, we seek to explore how property tax is calculated, changes in owner’s occupier’s tax rate and when does owner’s occupier’s tax rate apply. Annual Value – The Basis of Property Tax Property tax […]

Introduction  Local Courts had recently decided on whether an Option to Purchase (“OTP”) was validly exercised. The said OTP was signed by the Vendor and then sent via Whatsapp to the Purchasers as a PDF file. When the original hardcopy did not reach the Purchasers, they had instead printed out the PDF file and executed […]

Introduction Landed property owners in Singapore might have unknowingly built their property beyond their own rightful boundaries which have infringed their neighbour’s property rights known as encroachment. But what exactly is encroachment? Encroachment occurs when you have structures sitting on your neighbour’s land, or protruding into their air space or onto adjoining State Land. Encroachment […]

Introduction The recent modification in the stamp duty rules following the announcement made by the Ministry of Finance (MOF) on 8 May 2022 caused a significant stir in the real estate sector. Since the update, we have received countless enquiries from individuals who are seeking clarification on the new rules. In this article, we aim […]

Introduction It is well-known that property prices in Singapore have been soaring for the past 2 decades. The HDB market is no exception. Unsurprisingly, many people have come to see property (including HDB flats) as not just homes, but investments. This has spurred the government to enact a host of laws and regulations designed to […]

  Introduction Singapore experienced an increase in the rental of residential properties by both locals and foreigners in recent years. This phenomenon is perhaps predominantly attributable to the Covid pandemic. Singapore residents who are living abroad may have rented out their existing apartment in Singapore while overseas. When they return back to Singapore during the […]

Introduction The pension system varies greatly across the globe. In Singapore, we have the Central Provident Fund (CPF) in place for Singapore citizens and Singapore Permanent Residents. CPF is an employment-based savings scheme with the help of employers and employees contributing a mandated amount to the fund for their benefits. This scheme is managed by […]

Introduction One of the ways available to both Singapore Citizens and Singapore Permanent Residents to cope with the recently increased ABSD rates is through the process of decoupling. In this month’s newsletter, we will be focusing on the ways to decouple a private property and why it may be beneficial for you to do so […]

Introduction With the recent news of a Chinese national charged with appointing a Singaporean to buy landed property on his behalf, we are reminded once again of the importance of seeking professional advice especially if you are a foreigner purchasing a landed property in Singapore. Here at SMTP, we have a professional and experienced team […]

Introduction When a person purchases a property, the lawyer would usually ask if he or she would like to lodge a caveat against the property. But what is a caveat? A caveat is a legal document lodged with the Singapore Land Authority by a person with an interest in a property or land. Lodging a […]

Introduction Landed residential properties are regarded as prized assets and many people aspire to own a piece of land in land-scarce Singapore. Indeed, the ownership of a landed residential property is often synonymous with exclusivity, privacy and prestige. Of particular relevance in the purchase of landed residential properties is the land area of the property. […]

Introduction In this month’s case study, we will look at a High Court case on a dispute between the Plaintiff and her daughter-in-law, the Defendant. The Plaintiff’s son or the Defendant’s husband (“ABC”) is not a party to the court proceeding. The dispute in the case arose over the sale proceeds of a condominium (“the […]

Introduction With an ageing population in Singapore, it is not uncommon to note a rise in the number of people who loses their mental capacity, particularly with the elderly. But what exactly is a loss of mental capacity and how does it impact property transactions? This month’s article shall provide you with some pointers for […]

As we approach the two-year mark of the ongoing pandemic, it is clear that there has been a marked shift in the strategies of wealthy families. Spurred by changing priorities and socio-economic landscapes, families are even more motivated to ensure security and freedom of movement for their generation and the next. This article will discuss […]

Introduction “Decoupling” is a widely used term when registered proprietors wish to remove one of their names from the title and free themselves of a property count for the purposes of calculating Buyer’s Stamp Duty (“BSD”) and/or Additional Buyer’s Stamp Duty (“ABSD”). In legal language, this is more accurately termed as a part sale and […]