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Stamp Duty for Office Space Leases & How It Works

Posted by on January 3, 2022

As we know, stamp duties are applicable for real estate leases in Singapore.

As stamp duties are also applicable for office space leases, read on to find out how stamp duty is calculated for leases in Singapore.

Calculation of Stamp Duty

To put it simply, if the gross monthly rent is fixed and if the average annual rent exceeds $1,000 for lease periods of four years or less :

Gross monthly rental x number of months for the lease x 0.4% (Rounded down to the nearest whole number)

As for lease periods of more than 4 years or for indefinite terms and if the average annual rent exceeds $1,000 :

0.4% x 4 times the average annual rent (Rounded down to the nearest whole number)

Stamp Duty Calculator

For easy calculation, stamp duty calculator is also available on IRAS website. You may input the necessary numbers that are relevant to the lease and you will be available to obtain the stamp duty amount applicable.

Dateline for Stamp Duty Payment

The dateline for payment of stamp duty is 14 days from the date of agreement if the document is signed in Singapore. Hence, the tenant may want to make payment for the stamp duty soon after the tenancy agreement is signed to avoid incurring any unnecessary late payment penalty.

How to Make Payment for Stamp Duty

Payment of stamp duty can be done online through the e-stamping portal on IRAS website by filling up the necessary details of landlord, details of tenant as well as the details for the lease. Payment can be easily done via e-nets and the stamp duty certificate can be downloaded from the website after payment is made. Be sure to check that pop-up blockers are not enabled for IRAS website so that you will be able to see a pop-up browser which leads to the e-nets payment site. The online e-nets receipt can also be downloaded for reference and records if required.

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