Extending Additional Buyer's Stamp Duty Remission Framework to Single Singaporeans Purchasing Second Residential Property for Owner-occupation and Sell First Property within Six Months

Mr Dennis Tan Lip Fong asked the Prime Minister and Minister for Finance (a) whether the Government will consider extending the Additional Buyer's Stamp Duty remission framework to single Singaporeans who purchase a second residential property for owner-occupation and sell their first property within six months to align their treatment with the concessions available to married couples and seniors aged 55 and above; and (b) if not, why not.

Mr Jeffrey Siow: Similar questions were answered in this House in October 2020 and July 2023. [Please refer to "Extending Remission of Additional Buyer's Stamp Duty to Singles Purchasing Second Property vis-a-vis Married Couples", Official Report, 5 October 2020, Vol 95, Issue 7, Written Answers to Questions section; and "Remission of Additional Buyer's Stamp Duty for Property Buyers who are Singles", Official Report, 3 July 2023, Vol 95, Issue 105, Written Answers to Questions for Oral Answer not Answered by End of Question Time section.]

Since then, we introduced the Additional Buyer's Stamp Duty (ABSD) remission for single Singaporean seniors in 2024 to better support seniors who wish to right-size their homes in retirement. The Member may wish to refer to the past replies on the rationale for not extending ABSD remission to all single Singaporeans.