Property cooling measures: Govt announces higher Additional Buyer’s Stamp Duty; foreigners’ tax doubled, smaller increase for residents
This is the highest among all the ABSD rate increases that were announced by the Government late on Wednesday night.
As for those buying their third and subsequent property, as well as permanent residents getting their second home, the ABSD rate was raised from 25 per cent to 30 per cent. Although property market measures were put in place in December 2021 and September 2022, they have had a moderating effect, with property prices in the first quarter of this year showing"renewed signs of acceleration amid resilient demand", it added.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Singapore announces new property cooling measures, additional buyer's stamp duty doubled to 60% for foreignersProperty cooling measures: Additional buyer’s stamp duty to be raised for Singaporeans and PRs buying their second and subsequent properties
Read more »
Property cooling measures: Govt announces higher Additional Buyer’s Stamp Duty; foreigners’ tax doubled, smaller increase for residentsSINGAPORE — Foreigners who buy any residential property in Singapore from Thursday (April 27) onwards will have to pay double the prevailing Additional Buyer’s Stamp Duty (ABSD) rates after it was raised from 30 per cent to 60 per cent.
Read more »
UK blocks Microsoft $69 billion Activision deal over cloud gaming concernsLONDON :Britain said it would block Microsoft's $69 billion acquisition of 'Call of Duty' maker Activision Blizzard over its concerns it would hinder competition in cloud gaming.The country's antitrust regulator said Microsoft's commitment to offer access to Activision's multi-billion dollar 'Call of Duty' fr
Read more »
Activision Blizzard pre-releases earnings after Britain blocks Microsoft dealCall of Duty maker Activision Blizzard beat quarterly bookings estimates on Wednesday (Apr 25), as it reported results a day earlier to allay concerns about its business after Britain block
Read more »
OpenAI rolls out 'incognito mode' on ChatGPTOpenAI also said it planned a “ChatGPT Business” subscription with additional data controls. Read more at straitstimes.com.
Read more »
SK Hynix reports record quarterly loss as chip glut worsensSEOUL :South Korea's SK Hynix Inc reported a record quarterly operating loss on Wednesday, but said production cuts by memory chipmakers will improve market conditions from the second half of 2023. Losses widened as a global economic slowdown prompted buyers to limit purchases, worsening a chip glut during th
Read more »