Additional buyers’ stamp duties
24/02/2024
Budget 2024 – Additional buyers’ stamp duties for property developers
* “Some flexibility” will also be accrued to the ABSD regime for housing developers. Currently, developers are granted an ABSD remission if they sell all units in their development by a deadline. For those who can’t sell all their units, they are subject to a full clawback of the ABSD.
* The government will lower the ABSD clawback rate should developers sell at least 90% of each development within the deadline.
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