Ex-property agent jailed for forging stamp duty certs

[carbuncle]

Ex-property agent jailed for
using fake stamp certificates
to cheat
By Alvina Soh | Posted: 15 May
2012 1759 hrs
Photos
1 of 1
Tan Hock Heng, Desmond
(Photo provided by Singapore
Police Force)
in
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SINGAPORE: A former property
agent has been sentenced to 12
weeks' jail for using fake stamp
certificates, becoming the first to
be punished for such offences.
Desmond Tan Hock Heng, 24,
pleaded guilty to five charges
under the Stamp Duties Act.
Three other similar charges were
taken into consideration.
Tan was sentenced to another
two weeks' jail for criminal
breach of trust.
Tan was with HSR Property
Group for less than a year when
he committed the offences
between January and April 2011.
He cheated the Commissioner of
Stamp Duties of S$3,694, using
fake stamp certificates in seven
property rental transactions.
Stamp duty is a tax payable on
documents or agreements
relating to properties, such as
tenancy or lease agreements,
sale and purchase agreements.
Once the stamp duty has been
paid, a stamp certificate will be
issued to certify the payment.
Tan forged eight stamp
certificates by using a genuine
one obtained from a previous
property transaction.
He altered property details such
as the addresses, names of the
landlords and tenants and stamp
duty amounts.
He then presented the
counterfeit stamp certificates to
the landlords, agents and
tenants.
They didn't know that Tan did
not pass the Commissioner of
Stamp Duties the stamp duties
they paid to him.
Tan was arrested early this year
after the Inland Revenue
Authority of Singapore (IRAS)
started investigating various
property rental transactions.
These included transactions for
property at Marina Boulevard
and Anson Road.
IRAS said on Tuesday that it
takes a "very serious view of
non-stamping and stamp duty
fraud".
It said Tan's clients had entrusted
him as a property agent to pay
their stamp duties to the
Commissioner of Stamp Duties.
Instead, he "let his clients down
and defrauded the government
of taxes".
Anyone who knowingly passes
fake certificates off as genuine
can be jailed up to three years
and fined S$10,000.
- CNA/fa

[august]

wow i never really looked at the stamp certificate at all.... is this a concern?

[rattydrama]

wow i never really looked at the stamp certificate at all.... is this a concern?

the agent is naive and stupid.

Its a record for the tax department to ensure the correct amount of ppty tax is paid.

[carbuncle]

wow i never really looked at the stamp certificate at all.... is this a concern?

Every transaction needs to be stamped. Not just sale but especially lease as well.... If not you kena IRAS lim kopi

[august]

Every transaction needs to be stamped. Not just sale but especially lease as well.... If not you kena IRAS lim kopi

i dutifully report my rental income to IRAS, is that good enough? i am wondering what is the implication to the landlord of such a stamp cert.

[carbuncle]

i dutifully report my rental income to IRAS, is that good enough? i am wondering what is the implication to the landlord of such a stamp cert.

Hello. You tell them your rental, they dont earn from the telling do they? Stamping is their major revenue component.... Better not risk it. Report lease for income tax record is NOT the same as stamping.

[rattydrama]

i remembered someone say if there is a dispute, the doc is admissible in court on owner-tenant relationship.

[carbuncle]

What is Stamp Duty?
Stamp duty is a tax on
documents relating to
immovable properties, stocks or
shares. Examples of such
documents are :
1) Lease / Tenancy Agreements
These are documents that
are prepared and signed
when you rent a property.
Stamp duty is calculated on
the actual rent or market
rent whichever is higher. The
person who leases or rents
the property (lessee or
tenant) is responsible for
paying stamp duty.
2) Acceptance to Option to
Purchase / Sale & Purchase
Agreements
These are documents that
are prepared and signed
when you buy or sell your
property. Stamp duty is
payable on the actual price
or market price whichever is
higher. The buyer is
responsible for paying
buyer’s stamp duty. Where
seller’s stamp duty is
applicable, the seller is
responsible for paying
seller’s stamp duty.
3) Mortgages
These are documents that
are prepared and signed
when you obtain a loan
from banks for your
property purchase. Stamp
duty is payable on the loan
amount. The person who
obtains the loan (mortgagor)
is responsible for paying the
stamp duty on the mortgage
document.
4) Share Transfer Documents
These are documents that
are prepared and signed
when you buy or sell shares.
Stamp duty is payable on
the actual price or net asset
value of the shares
whichever is higher. The
person who buys the shares
(transferee) is responsible
for paying stamp duty on
the Share Transfer
document.
If you have a document that
relates to more than one matter,
it will be charged separately for
each matter. This means that
more than one set of stamp duty
is to be paid on that document.
Examples include :
1. Sale and lease-back of
property
2. Sale and buy-back of
property
3. Lease with a contract for
sale of fixtures
4. An instrument whereby
more than one property is
leased to the same tenant
and where the terms and
conditions for the lease of
each of the properties are
different
Back to Top
When should I pay stamp
duty?
Once the document is signed
and dated, stamp duty needs to
be paid :
1. Within 14 days after the
date of the document if
the document is signed in
Singapore or
2. Within 30 days after the
date of its receipt in
Singapore if the document
is signed overseas
You can pay stamp duty easily
using our e-Stamping system. To
begin stamping your document
online, click here.
Back to Top
Why should I pay stamp duty?
It is an offence to use a
document which stamp duty has
not been paid on. If IRAS detects
a document where stamp duty
has not been paid, a penalty of
up to 4 times will be imposed.
In addition, a document where
stamp duty is paid can be
admitted as evidence in the court
in cases of disagreements.
Back to Top
Which are the documents that
I need not pay Stamp Duty?
Examples of documents where
stamp duty is not payable :
Service contracts not in
connection with the granting
of a lease
Deed of Appointment of
Trustees - where it does not
involve vesting of interest
Loan agreements not relating
to properties and shares
Settlement not relating to
properties and shares such as
cash settlement
Letters of Guarantee /
Indemnity
Statutory Declaration, Affidavit
Assignment of intangible
assets such as Goodwill,
Trademark and Patents
Assignment of book debts /
receivables (eg. sale proceeds)
Promissory Note
Letters of Appointment /
Revocation of Power of
Attorney
Will
Hire Purchase Agreement
Charter-party
Declaration to change from
Joint Tenancy to Tenancy in
Common of equal shares
Declaration to hold as Joint
Tenants by Tenants in
common in equal shares
Fixed and nominal duty
documents (dated on and
after 19 Feb 2011). For more
details, please refer to our e-
Tax Guide on Stamp Duty:
Removal of Fixed and Nominal
Duties (Second Edition)
(116 KB)
For more details on the other
abolished documents, please see
Changes in Stamp Duty on
Instruments Executed On or
After 28 Feb 98
(12 KB)

[august]

Hello. You tell them your rental, they dont earn from the telling do they? Stamping is their major revenue component.... Better not risk it. Report lease for income tax record is NOT the same as stamping.

the stamping is done by my tenant's agent leh, i just get a xerox copy of the stamp cert that's all.

[carbuncle]

the stamping is done by my tenant's agent leh, i just get a xerox copy of the stamp cert that's all.

That will work! As long somebody does it can liao....

[House]

http://www.propertyguru.com.sg/agent...4352/angel-teo

http://www.channelnewsasia.com/stori...201437/1/.html

dumb ass

[carbuncle]

http://www.propertyguru.com.sg/agent...4352/angel-teo

http://www.channelnewsasia.com/stori...201437/1/.html

dumb ass

Wow photoshop is amazing...

[House]

Wow photoshop is amazing...

ya amazing....until he photoshop the stamp duty certs

lets see if he can photoshop a prison warden's ID and walk out

[august]

24 years old but he looks like at least 34...

[carbuncle]

ya amazing....until he photoshop the stamp duty certs

lets see if he can photoshop a prison warden's ID and walk out

Witty!!!!!

[hyenergix]

Muz b really bad times as agents. Only $3k+ in total for 7 deals but enough to tempt him.

[ysyap]

At 24, he's charged. He started out in 2007 as reported in property guru. So he started work at 19??? Army how? Hmmm...

[smallant]

So far my impression of dealing w agencies starting w D are like shit...
One DT? Agt run away after the tenant cheq 1st mth deposit bounced !!!
The other DW? Agt churn pattern & ask me this price can rent. I told him ok & give me Loi + cheq, he DISAPPear !!! No sound no pix !

[carbuncle]

So far my impression of dealing w agencies starting w D are like shit...
One DT? Agt run away after the tenant cheq 1st mth deposit bounced !!!
The other DW? Agt churn pattern & ask me this price can rent. I told him ok & give me Loi + cheq, he DISAPPear !!! No sound no pix !

Just curious. The tenant run away - what did you do?

[oda]

Always do a check on the iras website for verification.

[smallant]

The DT? Agt run away ! Not the tenant ... The tenant fight to stay on despite no pay rent !!! Report police no use ! See MP no use.. See lawyer cost a bomb finally throw them out ! Complain to DT@, no use .. Waste of lots of time & efforts .. Lesson learn ! Never trust the D evils ... Ha ha

[carbuncle]

The DT? Agt run away ! Not the tenant ... The tenant fight to stay on despite no pay rent !!! Report police no use ! See MP no use.. See lawyer cost a bomb finally throw them out ! Complain to DT@, no use .. Waste of lots of time & efforts .. Lesson learn ! Never trust the D evils ... Ha ha

How did you throw the tenant out if he insist to stay on? Chain up the main gate? Condo unit no gate how? Splash dog blood on your own unit? Lol

[House]

How did you throw the tenant out if he insist to stay on? Chain up the main gate? Condo unit no gate how? Splash dog blood on your own unit? Lol

Hang pig head

[carbuncle]

Hang pig head

Only works on certain demographic... If Chinese will bbq and have a feast.

[House]

Only works on certain demographic... If Chinese will bbq and have a feast.

Yahor. Free food.....

[rogersim]

The DT? Agt run away ! Not the tenant ... The tenant fight to stay on despite no pay rent !!! Report police no use ! See MP no use.. See lawyer cost a bomb finally throw them out ! Complain to DT@, no use .. Waste of lots of time & efforts .. Lesson learn ! Never trust the D evils ... Ha ha

Just change the main door key set and lock them out.

[carbuncle]

Just change the main door key set and lock them out.

If they always have someone at home how do you do that?? Put superglue in keyhole?