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Louis Chua on Stamp Duties (Amendment) Bill

09:31 Min

The Stamp Duties (Amendment) Bill plugs the gaps in the Additional Buyer’s Stamp Duty (ABSD) and additional conveyance duty (ACD) regime, said MP Louis Chua. Speaking in Parliament on Tuesday (Jul 5), he said while he recognises that this was borne out of a periodic policy review, he wanted to know what were the considerations behind the decision to close the gap now instead of years ago. He also wanted to know if the Ministry of Finance is looking at reviewing the ABSD remission conditions for property developers to ensure greater stability in the property market. 

The Stamp Duties (Amendment) Bill plugs the gaps in the Additional Buyer’s Stamp Duty (ABSD) and additional conveyance duty (ACD) regime, said MP Louis Chua. Speaking in Parliament on Tuesday (Jul 5), he said while he recognises that this was borne out of a periodic policy review, he wanted to know what were the considerations behind the decision to close the gap now instead of years ago. He also wanted to know if the Ministry of Finance is looking at reviewing the ABSD remission conditions for property developers to ensure greater stability in the property market. 

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