Holding Residential Property on Inter Vivos Trusts in Singapore: Transfers to Trustees

(2022) 28(10) Trusts & Trustees 938-948

Singapore Management University School of Law Research Paper

Posted: 6 Oct 2022 Last revised: 21 Mar 2023

See all articles by Vincent Ooi

Vincent Ooi

Singapore Management University - Yong Pung How School of Law; Singapore Management University - Centre for AI & Data Governance

Date Written: October 1, 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

Suggested Citation

Ooi, Vincent, Holding Residential Property on Inter Vivos Trusts in Singapore: Transfers to Trustees (October 1, 2022). (2022) 28(10) Trusts & Trustees 938-948, Singapore Management University School of Law Research Paper , Available at SSRN: https://ssrn.com/abstract=4235453

Vincent Ooi (Contact Author)

Singapore Management University - Yong Pung How School of Law ( email )

55 Armenian Street
Singapore, 179943
Singapore

HOME PAGE: http://vincentooi.com

Singapore Management University - Centre for AI & Data Governance ( email )

55 Armenian Street
Singapore
Singapore

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