As a tenant in Singapore, one of the most important documents you will need to have is a tenancy agreement. This agreement serves as a contract between you and your landlord, outlining the terms and conditions of your tenancy. In Singapore, it is mandatory for all tenancy agreements to be stamped by the Inland Revenue Authority of Singapore (IRAS) within 14 days of signing. In this article, we will guide you through the process of stamping your tenancy agreement in Singapore.

Step 1: Obtain a copy of your tenancy agreement

Before you can stamp your tenancy agreement, you need to ensure that you have a copy of the agreement. Typically, your landlord or property agent will provide you with a copy of the agreement. Alternatively, you can also request a copy from them. It is important to ensure that the agreement is complete and accurate, and that all parties have signed the agreement.

Step 2: Calculate the stamp duty payable

The stamp duty payable on your tenancy agreement will depend on the rental amount and the duration of the tenancy. The stamp duty rates are as follows:

– For tenancies with a rental period of less than one year, the stamp duty is calculated as follows:

– 0.4% of the total rent for the period of the tenancy, or

– $1.50 for every $1,000 of the total rent for the period of the tenancy, whichever is higher.

– For tenancies with a rental period of one year or more, the stamp duty is calculated as follows:

– 0.4% of the total rent for the first year of the tenancy, and

– 0.4% of the total rent for every subsequent year of the tenancy.

You can use the stamp duty calculator on the IRAS website to calculate the stamp duty payable on your tenancy agreement.

Step 3: Purchase the stamp duty

Once you have calculated the stamp duty payable, you need to purchase the stamp duty from any Singapore Post Offices or the e-Stamping website. You will need to provide your NRIC or FIN number, and the details of your tenancy agreement to purchase the stamp duty. The stamp duty will be printed on a physical stamp certificate, which you will need to affix to your tenancy agreement.

Step 4: Affix the stamp duty to your tenancy agreement

Once you have purchased the stamp duty, you need to affix the physical stamp certificate to your tenancy agreement. The stamp certificate should be placed on the last page of the agreement, and should cover the entire page. The stamp duty should be affixed before the expiry of the 14-day deadline.

Step 5: Submit the tenancy agreement to IRAS

Finally, you need to submit the stamped tenancy agreement to IRAS. You can do this by either mailing the agreement to IRAS or submitting it in person. You should also retain a copy of the stamped tenancy agreement for your records.

In conclusion, stamping your tenancy agreement is a crucial step in the tenancy process in Singapore. By following the steps outlined above, you can ensure that your tenancy agreement is legally binding and enforceable in Singapore.