Letter of Undertaking for ABSD Remission: housing development with 5 or more residential units
This is the written undertaking a housing developer gives the Commissioner of Stamp Duties to claim remission of Additional Buyer’s Stamp Duty on a site being developed into five or more units of housing accommodation. Fill in the official PDF below and download it.
This is the genuine IRAS PDF, unmodified. Source: IRAS official page.
What is ABSD Housing Developer Undertaking (5+ units)?
A developer acquiring a residential site pays Additional Buyer’s Stamp Duty on the acquisition. Remission can be claimed where the site is developed and sold within the deadlines set by the rules, and this letter is the written undertaking that supports the claim. It is provided under rule 3(2)(g) of the Stamp Duties (Housing Developers) (Remission of ABSD) Rules 2013.
A director signs for the company and undertakes to commence housing development within two years of the Transaction Date, to complete a development of more than four units within five years, and to sell all the units within five years. The letter also commits the company to file supporting documents with IRAS, including a Qualifying Certificate where relevant and a Housing Developer’s Licence within two years, proof of commencement, proof of completion and disposal, and a list of sold and unsold units where any remain.
Who files ABSD Housing Developer Undertaking (5+ units)?
- Housing developers acquiring a site for five or more units of housing accommodation
- Company directors signing the undertaking on behalf of the acquiring entity
- Conveyancing lawyers and tax advisers preparing an ABSD remission claim
- Developers tracking the commencement, completion and sale deadlines attached to the remission
How to fill out ABSD Housing Developer Undertaking (5+ units)
- Fill in the date and the property address or land details of the site in the heading.
- Enter the signing director’s name, NRIC, FIN or passport number, and the company name in the undertaking paragraph.
- Check the commitments: commencement within two years of the Transaction Date, and completion and sale of all units within five years.
- Note the documents that must reach IRAS later, including the Qualifying Certificate and Housing Developer’s Licence, proof of commencement, proof of completion and disposal, and the list of sold and unsold units where the development is not fully sold.
- Sign with the signatory name and designation and address the letter to the Commissioner of Stamp Duties, Inland Revenue Authority of Singapore, 55 Newton Road, Revenue House, Singapore 307987.
Quick fill ABSD Housing Developer Undertaking (5+ units) on this page
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Frequently asked questions
What is the Transaction Date?
The date of the contract or agreement to purchase the site, or the Transfer, whichever is earlier, or the date of a Collective Sale Order where that applies. Every deadline in the undertaking runs from it.
What if only some units are sold within five years?
The undertaking sets a tiered clawback. If 89 percent or less of the units are sold within five years, the full remitted ABSD becomes payable. If at least 90 percent but less than 100 percent are sold, a reduced amount applies, worked out from the table in the Annex to the letter. Interest of 5 percent per annum runs from 14 days after the Transaction Date.
How is this different from the four unit version?
Developments of four or fewer units use a separate letter with a shorter timeline, three years for completion and sale rather than five, and a simple all or nothing clawback instead of the tiered calculation.