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New rule hits those who buy homes via trusts to avoid ABSD
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The new rule subjects transfers of residential properties into a living trust to an ABSD of 35 per cent.
ST PHOTO: LIM YAOHUI
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SINGAPORE - Cash-rich buyers who have been circumventing additional buyer's stamp duty (ABSD) regulations by making residential property purchases via trusts that are conditional or revocable may no longer be able to use that loophole.
This is after a new regulation kicked in on Monday (May 9) that will subject transfers of residential properties into a living trust to an ABSD of 35 per cent.
