The new additional conveyance duties regime in the Stamp Duties Act

The new additional conveyance duties regime has gone beyond attempting to achieve tax neutrality between direct transfers of residential property and indirect transfers through the use of property-holding entities. It taxes an entirely new tax base and raises issues such as: the extremely broad conc...

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Bibliographic Details
Main Author: OOI, Vincent
Format: text
Language:English
Published: Institutional Knowledge at Singapore Management University 2018
Subjects:
Online Access:https://ink.library.smu.edu.sg/sol_research/2748
https://ink.library.smu.edu.sg/context/sol_research/article/4706/viewcontent/SSRN_id3072857.pdf
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Institution: Singapore Management University
Language: English
Description
Summary:The new additional conveyance duties regime has gone beyond attempting to achieve tax neutrality between direct transfers of residential property and indirect transfers through the use of property-holding entities. It taxes an entirely new tax base and raises issues such as: the extremely broad concept of an “associate” relationship; definition of “unit in a property trust”; anti-avoidance provisions; liability for providing false information; tax neutrality; and the considerable flexibility that the section 23 Order provides the Government. This article analyses the regime in detail and considers the implications of various changes to the prescribed values in the section 23 Order.