Navigating the Pitfalls of ABSD (5th May 2017)

Dentons Rodyk Academy Construction Seminar Series: Navigating the Pitfalls of ABSD

Synopsis

The introduction of Additional Buyer Stamp Duty (ABSD) on 7 December 2011 took the Singapore Real Estate market by storm, effectively dampening purchase and development of residential properties. More than 5 years after the advent of ABSD, industry players continue to grapple with the legal pitfalls of this tax payable by non-individuals and affected individuals.

The ambit of "residential properties" is wide, bringing the master plan zoning of land into consideration in circumstances even when the approved use of the same land is inconsistent with the zoning. The flexibility of the remission conditions continue to be tested in the light of practical issues arising in the course of development.

The recent introduction of Additional Conveyance Duties (ACD) on transfers of share equity interests in residential property holding entities reiterate the continued relevance of ABSD.

Join Dentons Rodyk real estate senior partner, Lee Liat Yeang, as he elucidates the salient features of the rules relating to ACD in addition to sharing his practical experiences dealing with the ABSD issues.

About the Speaker:

Lee Liat Yeang is a Senior Partner in the Real Estate Practice Group of Dentons Rodyk. He represents many real estate developers and property investors in investment properties deals and property development including acquisition of collective sale sites. He has also represented clients in appeals to IRAS on various issues relating to ABSD. Liat Yeang is the incumbent Chairperson of the Conveyancing Practice Committee of the Law Society of Singapore.

Programme:

4:00 p.m. - Registration and refreshments
4:30 p.m. - Presentation
5:15 p.m. - Q & A
5:30 p.m. - End of session