There is a checklist of things to do when selling your property, such as paying outstanding tax, terminating existing GIRO payments and submitting claims for tax refunds.
On this page:
Pay Outstanding Property Tax
Property tax is payable yearly in advance by the month of January. You should have paid the full year tax by 31 Jan before you sell your property.
If you have not paid the full year tax and do not have a GIRO instalment plan, we advise you to check your outstanding property tax and make payment before the completion of sale of your property.
If you are paying tax by GIRO, please consult your lawyer on the settlement of the outstanding property tax due for the rest of the year with the buyer of your property.
Apportion Property Tax Liabilities
After selling your property, your buyer may need to reimburse a portion of property tax already fully paid for the year by you – the seller. The apportionment of property tax liabilities is a private arrangement between the seller and buyer. Your lawyer or HDB officers (for HDB flats) would usually assist you in apportioning the tax amount and in seeking the reimbursement from the buyer.
IRAS does not apportion nor arbitrate property tax liabilities between the parties.
Terminate any GIRO Payment Arrangements
To terminate your existing GIRO arrangement, please contact your bank directly.
If you have an existing GIRO arrangement that allows you to make payment for more than 1 of your own taxes (e.g. Income Tax, Property Tax or GST) or for property tax for more than 1 of your properties, please call IRAS on 1800 356 8300 or email us to terminate your GIRO arrangement.
Please settle any overdue tax in full, before you terminate the GIRO arrangement. You can log in to myTax Portal and select 'Account' > 'View Account Summary' to check if there is any overdue tax.
Inform IRAS at least 1 week before the end of the month if you wish to cancel the GIRO deduction for the following month. If we do not receive any instruction from you, the bank will continue to deduct the payment from your GIRO account for the following month.
Claim for any Property Tax Relief
If you are eligible for the owner-occupier tax rates and have not applied, you will need to submit the application at least 6 weeks before the property is transferred.
IRAS will not accept your application after you cease to be the owner of the property. If you are successful in your application, any claim for refund of tax has to be made within 5 years of the excess tax paid.
Notify IRAS of the Property Transfer
Usually your conveyancing lawyer would notify IRAS of the sale or transfer of your property within 1 month of the sale or transfer by filing a Notice of Transfer. You need not write to separately inform IRAS of the property transfer.
If you continue to receive Valuation Notice or bill from IRAS more than a month after the transfer, you can check with your lawyer whether he has filed the Notice of Transfer.
For details, please refer to If you fail to submit the Notice of Transfer on time or are late in submitting the Notice of Transfer.
If your property is a HDB flat, HDB will notify IRAS of the transfer of your flat.
Pay Seller’s Stamp Duty (if applicable)
You may need to pay a Seller's Stamp Duty (SSD) , if you sell or dispose the property within 4 years of acquisition. SSD is payable within 14 days of the date of Contract/Agreement.
Please check with your lawyers whether you are required to pay SSD based on your circumstances. For details on SSD, you can refer to IRAS website on Stamp Duty.
Capital Gains from Sale of Property
Generally, the gains derived from the sale of a property in Singapore (also known as capital gains) are not taxable. However, when your main income is derived from trading in properties, the gains from the sale of property will be taxed. Find out more on Gains from Sale of Property.