Publication Type
Journal Article
Version
acceptedVersion
Publication Date
10-2022
Abstract
As a response to the “missing beneficial owner” problem highlighted by the Zhao Hui Fang case, amendments have been made to Singapore’s stamp duty regime. ABSD will now be levied at 35% on transfers of residential property to trustees, with a remission available if certain conditions are met. These conditions effectively mean that residential property held on inter vivos trusts in Singapore must be given to beneficiaries without conditions or powers of revocation or variation. This has major ramifications for succession planning, since such restrictions largely defeat the purpose of using a trust to hold property in the first place.
Keywords
Tax Law, Trusts Law, Taxation of Trusts, Singapore Law, Stamp Duties
Discipline
Estates and Trusts | Tax Law
Research Areas
Corporate, Finance and Securities Law; Private Law
Publication
Trusts and Trustees
Volume
10
Issue
12
First Page
1
Last Page
11
ISSN
1363-1780
Identifier
https://doi.org/10.1093/tandt/ttac096
Publisher
Oxford University Press (OUP): Policy H - Oxford Open Option D
Citation
OOI, Vincent.
Holding residential property on Inter Vivos trusts in Singapore: Transfers of interests. (2022). Trusts and Trustees. 10, (12), 1-11.
Available at: https://ink.library.smu.edu.sg/sol_research/3994
Creative Commons License
This work is licensed under a Creative Commons Attribution-NonCommercial-No Derivative Works 4.0 International License.
Additional URL
https://doi.org/10.1093/tandt/ttac096