SINGAPORE: New rules imposing an Additional Buyer’s Stamp Duty (ABSD) on residential properties transferred into a living trust will close a loophole in the existing system, said experts.

But they will have a limited impact on the broader property market, as the changes will likely only affect a small minority of well-heeled buyers purchasing property via trusts structured in a specific way, they said.

Under the new rules announced on Sunday night (May 8), an ABSD of 35 per cent will be imposed on any transfer of residential property into a living trust, starting from May 9.

Source: https://www.channelnewsasia.com/

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