Buying a strata office or medical suite at The Golden Mile involves Buyer’s Stamp Duty on the commercial scale and GST at 9% on the purchase price. This page sets out each duty, with the IRAS rates in force.
Buyer’s Stamp Duty on The Golden Mile
Buyer’s Stamp Duty (BSD) is charged on the price before GST, or the market value if higher, and is payable to IRAS within 14 days of exercising the option to purchase. The commercial scale has five bands and tops out at 5%; each band is charged at its own rate, so the effective rate on the whole price is lower than the top marginal rate.
| Band of purchase price (before GST) | Rate |
|---|---|
| First $180,000 | 1% |
| Next $180,000 | 2% |
| Next $640,000 | 3% |
| Next $500,000 | 4% |
| Above $1,500,000 | 5% |
IRAS rates for commercial property, in force from 15 February 2023. BSD is rounded down to the nearest dollar. Confirm with IRAS before commitment.
On an illustrative purchase price of $3,000,000, BSD works out at $119,600, an effective rate of about 4.0%. The stamp duty calculator builds up the figure band by band for any price.
Every Duty at The Golden Mile, Stated in Full
| Duty | Position on a Golden Mile strata office or medical suite |
|---|---|
| Buyer’s Stamp Duty | Payable, on the commercial scale above |
| Additional Buyer’s Stamp Duty | Not applicable |
| Seller’s Stamp Duty on a future sale | Not applicable |
| GST | 9% of the purchase price, charged on each instalment |
| Property tax | 10% of Annual Value, from TOP |
Rates per IRAS. Confirm with IRAS, MAS or your adviser before commitment.
No Additional Buyer’s Stamp Duty arises on a commercial purchase, for any buyer profile, so a Singapore company, a foreign company, an individual or a family holding vehicle buys at The Golden Mile on the same duty footing. Commercial property carries no Seller’s Stamp Duty, whatever the holding period, so the timing of a sale is a commercial decision.
GST on a Purchase at The Golden Mile
The developer is GST-registered, so GST at 9% applies to the purchase price. On a building under construction it is charged on each instalment of the payment scheme as that instalment falls due, starting with the booking fee, and it is payable in cash: banks lend against the price, not the GST.
Whether a buyer can recover the GST depends on the buyer, and the position cannot be determined from the outside. The general guideline is that an operating company, GST-registered and already making taxable supplies, may claim the GST as input tax as it is incurred through construction. A non-operating company, such as a newly incorporated or investment-holding vehicle, would not usually start claiming during construction, and may instead begin once the property reaches TOP and taxable activities commence, for example leasing the unit or operating from it. All of this is subject to the rules set by IRAS.
Property Tax at The Golden Mile
Commercial property is taxed at a flat 10% of its Annual Value, which IRAS sets from market rents for comparable units. Nothing is levied while the building is under construction; property tax begins from TOP. The purchase calculator includes an estimate from a rent you enter.
Discuss The Golden Mile Costs With the Sales Concierge
The Sales Concierge sends the floor-plan brochure, the current price list and unit availability for The Golden Mile, and arranges a private session at the sales gallery at a time that suits you.
What the Sales Concierge sends
- The full project details and the floor-plan set on the floor plan page.
- The current price list and the balance units chart by level.
- The e-brochure and the level-by-level stacking plan.
- A private sales gallery appointment and a walk-through of the purchase calculator.
Register Your Interest
No obligation. The Sales Concierge responds personally to every enquiry.
To talk it through instead, call +65 6200 6220 or send a WhatsApp message to the same number.