by Kenny Lee Historical policy and news archive · Source publication: 2023-02-14 · Implementation: 15 February 2023, subject to transitional provisions. Prepared retrospectively on 3 October 2026; the archive date follows the cited source. Historical rules must be matched to the relevant transaction date.
The announcement
Residential BSD gained a 5% band on the portion above S$1.5 million and up to S$3 million, and a 6% rate above S$3 million. Non-residential BSD gained higher upper bands, with a top marginal rate of 5%. These are marginal rates, not flat taxes on the entire property price.
What this means for property planning
At an assumed residential taxable value of S$2 million, the new bands produce S$69,600 of BSD: S$1,800 + S$3,600 + S$19,200 + S$20,000 + S$25,000. The prior schedule would produce S$64,600. The difference is S$5,000.
At S$4 million, the new residential bands produce S$179,600 compared with S$144,600 previously, a S$35,000 increase. These examples assume price equals taxable value and omit ABSD, legal fees and any relief. Buyers comparing residential and commercial premises should use the correct classification and schedule rather than transferring the same calculation between asset types.
Before acting
Establish your household profile, property ownership, financing and transaction dates. Obtain a written eligibility or financing assessment where needed. A historical announcement cannot establish your present eligibility, tax liability or borrowing limit.
Source: Original official release or dated news report. Reviewed 3 October 2026.