RES exam question on Leasing of Private Property: stamping are correct
Hui Min, a salesperson, closes a two-year tenancy that both parties sign in Singapore on 3 November 2026. The lease duty works out at $400, and the tenant has agreed to pay it. Which statements about stamping are correct? (i) Stamping by 17 November 2026 requires payment of the duty alone, with no penalty. (ii) Stamping in late December 2026 adds a penalty of $400, the greater of $10 and the duty. (iii) Stamping in March 2027 adds a penalty of $1,600, four times the duty, on top of the duty. (iv) Had the tenancy been signed overseas, the 30 days to stamp would have run from the day of signing. (v) The Commissioner of Stamp Duties has no power to reduce or remit a late-stamping penalty.
- A(i) and (iii) only
- B(ii), (iii) and (v) only
- C(i), (ii) and (iii) only
- D(i), (ii), (iii) and (iv) only
Show answer & explanation
Answer
C. (i), (ii) and (iii) only
Explanation
Answer: (i), (ii) and (iii) only. Within 14 days only duty is due; within the next 3 months the penalty is the greater of $10 and the duty; after that it rises.(i) True. 14 days from 3 November is 17 November, so only the duty is payable.(ii) True. Late December is within the next 3 months, so the penalty is $10 or the deficient duty, whichever is greater.(iii) True. March 2027 is more than 3 months late, so the penalty is $25 or four times the deficient duty, whichever is greater, on top of the duty.Rule: An instrument first executed in Singapore is stamped on the duty alone within 14 days. Late stamping adds a penalty that rises after 3 months, which the Commissioner may reduce or remit.Source: Stamp Duties Act 1929, s 46(1) and s 46(2) (sso.agc.gov.sg, read 1 October 2026)
Why the other options are wrong
- (iv) False. If first executed overseas, the 30 days run from first receipt in Singapore, not from signing.
- (v) False. The Commissioner may reduce or remit any penalty.
Study the concept behind this question: Leasing Private Residential Property (Singapore)
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