The Stamp Duty Act (Cap. 339) is set to be amended by the Stamp Duty (Amendment) Bill, 2025. The Bill proposes that, with effect from 1 July 2025, no stamp duty will be payable on agreements or memoranda of agreement, mortgage deeds (including any related collateral, auxiliary, additional or substituted security), and mortgages of a crop. This means that businesses and individuals will no longer incur stamp duty when entering into contracts or when securing loans using land or crops.