If a Singapore property sale agreement is rescinded or aborted, IRAS may grant stamp duty remission on qualifying duty in excess of $50. Its guidance covers Buyer’s Stamp Duty, Additional Buyer’s Stamp Duty and Seller’s Stamp Duty where applicable. The remission has conditions and requires an application within six months from the date of rescission.
Start by asking your conveyancing lawyer to identify the document that was stamped and confirm the date on which the contract was rescinded. Keep the original option or agreement and the evidence of cancellation. Read IRAS’s remission rules for aborted sale and purchase agreements.
- Identify the stamped document and the duty paid.
- Confirm the legal rescission date.
- Check the reason the purchaser ended the contract.
- Track the six-month deadline and retain the supporting documents.
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Put the documents in date order
| Record | Why it matters |
|---|---|
| Original Option to Purchase or sale agreement | Shows the document and original transaction |
| Stamp certificate | Shows the stamping record and duty paid |
| Evidence of rescission | Helps establish that the contract ended and when |
| Refund application | Records the request and submission date |
IRAS also requires that the purchaser did not rescind or abort the agreement to facilitate the seller disposing of the property to another person. Ask your lawyer how that condition applies if the cancellation involves a replacement buyer or an onward sale.
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Use the rescission date in your calendar
Imagine a buyer signed a purchase document in May and the parties later completed a documented rescission in July. Use the confirmed rescission date for the six-month deadline. Keep the stamping date separately for your records. A discussion about cancelling and an effective rescission can happen on different dates.
The application goes through the Stamp Duty section of myTax Portal under Request and Apply for Refund. IRAS says to use a desktop. Confirm who is handling the application and keep the acknowledgement.
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Frequently asked questions
Does an aborted purchase guarantee a refund?
IRAS assesses the remission conditions. Keep the relevant evidence and confirm the position for your transaction.
Is the option fee part of the stamp duty refund?
The stamp duty remission is a tax matter. Ask your lawyer separately about the option fee, deposit and any other amounts under your agreement.