Stamp duty is levied on the amount which is higher.

The SNP price may not be the figure in their database. Sometimes there are buyers/seller who wants a lower figure in the SNP than the actual transacted price for only 1 reason.....which is against the law ... cheating for stamp duty/rpgt purpose. That is why the govt would do their own valuation.

A lower purchase price stated may not be an advantage to the buyer if he sells the property within 5 years due to rpgt unless he elects for 1 time exemption if is a residential property.

A person can appeal with a copy of the bank valuation report but then it is not a must the IRB will agreed to the price.

This post has been edited by mini orchard: Oct 4 2017, 07:27 AM

In life you cannot always get the best of all ..... market is imperfect.

What is IRB reference for stamp duty calculation then?