Under the Landlords and Tenants Regulations (consolidation decree), your tenancy agreement means that the tenant must pay the rent on the due date and that the tenancy agreement is cancelled after non-payment for 15 days in the absence of an explicit agreement on the payment of the rent. Hello Xoo, you are right 😀 Stamp duty also applies to room rentals. I corrected the article. Thank you for your valuable feedback on this article 🙂 be in touch! Subject to the terms of your tenancy agreement, you and your tenant may be responsible for government rates and rents. The ratings and evaluation department and the Lands department offer a number of online services to facilitate payment. Stamp duty must be paid on the consideration or market value of the rental interest transferred, depending on the higher amount, at the BSD rates. The amount of stamp duty depends on the monthly rent and the length of your rental. Below is an example of an apartment with a total monthly rent of 3000 dollars, for a rental period of 18 and 24 months. The higher the rent and the longer the stay, the higher the stamp duty, of course. Rightly so, the tenants are the ones who pay stamp duty.
The party that is required to pay stamp duty is generally indicated in the agreements. For example, if you are renting a property, the rental agreement should indicate who should pay stamp duty. Source: IRAS. (It also applies that if you are good at negotiations, the landlord can refund or pay the stamp duty amount for you, but the payment should always be made on behalf of the tenant). I simplified the message in this article. Thank you for reporting it and for informing us! Do you have a great day 🙂 Use an agent to contact the tenant and does the tenant also have an agent? If both are the case, it is advisable to let the agents process this part of the agreement. You must complete the E1A form of the IRAS website (estamping.iras.gov.sg/WebForms/FormSubmission/FRM0036.aspx) and submit it to be stamped by an IRAS officer. Hello, can I know where to pay and what documents should I submit? You and your tenant can usually choose between you the terms of the tenancy agreement, unless they are contrary to the landlord and tenant regulations. A premium rental agreement is a lease agreement for which a lump sum payment is made. Stamp duty must be paid on the premium on the basis of BSD rates. In the case of a rent supplement to the premium, stamp duty on rent must be paid on the basis of rental tax rates.