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Opposing collective sale doesn't exempt owners from stamp duty

Nov 21, 2018 - The Business Times Singapore

IN a collective sale of private homes, residents who oppose it will still have to pay any seller's stamp duty that applies to them.

"If the sale occurs within the holding period, the seller's stamp duty is applied, regardless of whether an individual owner consented to or opposed the sale," said Second Finance Minister Lawrence Wong in Parliament on Nov 20.

The reason is that the collective sales committee is given the powers to enter into a sale-and-purchase agreement on behalf of a...