- The ABSD was first introduced by the government on 8 Dec 2011 and was subsequently revised on 12 Jan 201 3, 6 Jul 2018 and 16 Dec 2021
On 6 Jul 2018, the government introduced an additional 5%, ABSD that housing developers have to pay. This 5% ABSD is non-refundable/non remittable.
The ABSD applies to residential properties, as well as residential land. The affected buyers/developers are required to pay the ABSD on top of the existing Buyer’s Stamp Duty (BSD) .