duty stamp in a tenancy agreement

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heideselena2003
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duty stamp in a tenancy agreement

Post by heideselena2003 » Mon, 18 Jul 2011 1:39 am

Hello,
I have tried to find information in this forum about the duty stamp before making this question and I have not found it, so I am sorry if it is there and I have not seen it. :???:
I would like to ask if in a tenancy agreement, where landlord and tenant seem to have a good understanding (landlord is putting all the requirements asked in the house) it is necessary to go for the duty stamp. Landlord has asked to avoid it (in terms of tax payment, he has been very open about it) and also has offered options. Should I trust not to go for it, is it legal a contract not using the duty stamp?...please I need advice in this matter (I am not going through an agent, it is a direct agreement)
Thank you for your advices!!! :D
Heide

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Re: duty stamp in a tenancy agreement

Post by Mad Scientist » Mon, 18 Jul 2011 6:40 am

heideselena2003 wrote:Hello,
I have tried to find information in this forum about the duty stamp before making this question and I have not found it, so I am sorry if it is there and I have not seen it. :???:
I would like to ask if in a tenancy agreement, where landlord and tenant seem to have a good understanding (landlord is putting all the requirements asked in the house) it is necessary to go for the duty stamp. Landlord has asked to avoid it (in terms of tax payment, he has been very open about it) and also has offered options. Should I trust not to go for it, is it legal a contract not using the duty stamp?...please I need advice in this matter (I am not going through an agent, it is a direct agreement)
Thank you for your advices!!! :D
Heide
Stamp Duty is compulsory. If the LL is advising you against this. do not go for it. You will be burn

http://www.iras.gov.sg/pv_obj_cache/pv_ ... 5-SD-3.pdf
The positive thinker sees the invisible, feels the intangible, and achieves the impossible.Yahoo !!!

koalamlam
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Post by koalamlam » Sun, 13 Jan 2013 1:05 am

sorry to interrupt, as I'm looking for the similar question too.

so if the tenant is responsible for the stamp duty, without using any agent, is it the tenant need to bring the contract to the IRAS to stamp it, or the landlord should do the paper work, the tenant just pay the $$ back after (or b4)?

and after the stamp, should either side give a receipt or somthing to the other side which proof that they hv stamped it??

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JR8
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Post by JR8 » Sun, 13 Jan 2013 1:46 am

koalamlam wrote:sorry to interrupt, as I'm looking for the similar question too.

so if the tenant is responsible for the stamp duty, without using any agent, is it the tenant need to bring the contract to the IRAS to stamp it, or the landlord should do the paper work, the tenant just pay the $$ back after (or b4)?

and after the stamp, should either side give a receipt or somthing to the other side which proof that they hv stamped it??
No problem, welcome to the discussion!
http://www.iras.gov.sg/irasHome/page.aspx?id=1808

I would expect the landlord to do the admin. I'd also expect back a copy of the stamped TA as proof it has been done.

Remember: an unstamped TA is inadmissible in evidence in legal proceedings. So a landlord that hints at not paying SD... might just be a big storm brewing... BEWARE.

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Post by offshoreoildude » Sun, 13 Jan 2013 11:47 am

JR8 wrote:
koalamlam wrote:sorry to interrupt, as I'm looking for the similar question too.

so if the tenant is responsible for the stamp duty, without using any agent, is it the tenant need to bring the contract to the IRAS to stamp it, or the landlord should do the paper work, the tenant just pay the $$ back after (or b4)?

and after the stamp, should either side give a receipt or somthing to the other side which proof that they hv stamped it??
No problem, welcome to the discussion!
http://www.iras.gov.sg/irasHome/page.aspx?id=1808

I would expect the landlord to do the admin. I'd also expect back a copy of the stamped TA as proof it has been done.

Remember: an unstamped TA is inadmissible in evidence in legal proceedings. So a landlord that hints at not paying SD... might just be a big storm brewing... BEWARE.
To add to your woes.... you'll be in trouble with IRAS if the LL is trying to hide the rental income - that's the principal reason they avoid duty stamps (duty stamp = TA recorded - goes to IRAS who check the LL files the rental income and costs).
Now I'm called PNGMK

amoon
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Confused

Post by amoon » Wed, 05 Jun 2013 1:06 am

Have I to pay more for stamp if I stay for longer rent? I want to add two months to my rent?

Thank you

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JR8
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Post by JR8 » Wed, 05 Jun 2013 1:32 am

It is a good question, and one that I expect you might find an answer on the web (pls do share).

To be admissible as evidence in proceedings it needs to be stamped. I.e. there must be a way, and it's in your interests to boot...

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Re: Confused

Post by PNGMK » Wed, 05 Jun 2013 8:07 am

amoon wrote:Have I to pay more for stamp if I stay for longer rent? I want to add two months to my rent?

Thank you
Personally.... a short letter drafted as an extension of the existing lease should suffice on it's own for such a short period. As the URA are against short leases I doubt you'll find you can get a short lease stamped but as you're doing a lease extension I think you're safe.

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Post by JR8 » Wed, 05 Jun 2013 9:21 am

There's a big difference between an outright short-lease, and an extension to a lease for a few months (i.e. a Periodic Statutory Tenancy).



p.s. OSOD your new avatar is very gay. Mind you, your last one was too. Too many lonely nights out on the platform?

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