question on absd

[radha08]

if i have a hdb flat today and i buy a NEW ec which ready in 4 years time do i have to pay the ABSD of 7% for 2nd property upon booking of my EC and in 4years time when i sell my HDB(cos cannot own 2) i will get back my ABSD from govt can anyone enlighten me if this is the current law tks

[sandpapa]

For new EC, I think ABSD is exempted.;)

[condolisa]

From iras website:

b) ABSD Refund on Purchase of Second Residential Property

Purchase of second residential property by a married couple involving at least one SC spouse may qualify for ABSD refund subject to the following conditions :

(i) ABSD has been paid on the second residential property;

(ii) The first property (co-owned or owned separately) is sold within 6 months from the date of purchase of the second property (if it is a completed property) or TOP/CSC (whichever is earlier) of the second property (if it is an uncompleted property);

(iii) The married couple has not purchased or acquired a third or subsequent property from the date of purchase of second property to the date of sale of the first property.

[condolisa]

Sorry, think Sandpapa is correct :o

[radha08]

oh ok thanks thats how boring the property market is i think of stupid things like this:D:D:D

[bargain hunter]

for non EC, this is applicable. ABSD has to be paid up front then rebate later.


From iras website:

b) ABSD Refund on Purchase of Second Residential Property

Purchase of second residential property by a married couple involving at least one SC spouse may qualify for ABSD refund subject to the following conditions :

(i) ABSD has been paid on the second residential property;

(ii) The first property (co-owned or owned separately) is sold within 6 months from the date of purchase of the second property (if it is a completed property) or TOP/CSC (whichever is earlier) of the second property (if it is an uncompleted property);

(iii) The married couple has not purchased or acquired a third or subsequent property from the date of purchase of second property to the date of sale of the first property.

[CondoInterested]

if i have a hdb flat today and i buy a NEW ec which ready in 4 years time do i have to pay the ABSD of 7% for 2nd property upon booking of my EC and in 4years time when i sell my HDB(cos cannot own 2) i will get back my ABSD from govt can anyone enlighten me if this is the current law tksIf you own a private property, you cannot buy HDB or EC, same rules apply.

[wt_know]

what about this

1. living in hdb

2. buy new EC. ABSD exempted, EC ready in 4 years time

3. from now till 4 years time, can buy a ready private property (ie shoebox) for rental yield while still living in hdb? absd is 7% or 10%?

4. when EC is ready, move in and sell hdb

5. finally, live in EC and hold on private for rental yield


If you own a private property, you cannot buy HDB or EC, same rules apply.

[CondoInterested]

hmm... interesting...

Does the 5yr MOP of HDB applies for EC?

[Adva181]

what about this

1. living in hdb

2. buy new EC. ABSD exempted, EC ready in 4 years time

3. from now till 4 years time, can buy a ready private property (ie shoebox) for rental yield while still living in hdb? absd is 7% or 10%?

4. when EC is ready, move in and sell hdb

5. finally, live in EC and hold on priivate for rental yield


Buy EC cannot buy private already la

[Adva181]

hmm... interesting...

Does the 5yr MOP of HDB applies for EC?

Yes

Please read up Hdb n ura website

[mcmlxxvi]

Ur Sea Esta bought under kid name???

My boy-cat is 8 yrs old. Thats 48yo in human equivalent.
Can i buy under his name..

He is adopted though. But i am legal carer and guardian lol.

Which brings me to a weird business idea. Is there a market where over 21yo orphans put themselves up for lease to parties who need to buy under someone else name... lol. Lease is only for the tenure of the loan or holding period of the property.

[radha08]

Ur Sea Esta bought under kid name???

My boy-cat is 8 yrs old. Thats 48yo in human equivalent.
Can i buy under his name..
bro sea esta under my name i asking this question dont apply to me just a general question la ---my boy dog love chasing boy cat last night just chase one:D

[mcmlxxvi]

bro sea esta under my name i asking this question dont apply to me just a general question la ---my boy dog love chasing boy cat last night just chase one:D

Your boy dog gay?? Mine boy cat gay leh. He wet wet down there whenever he paw massages me!!

If gay can match make then we'll be in laws!!

[flxcat]

TGIF. In the mood to do a post (tho kind of stupid post), but just for laugh oki:ashamed1:

So much complexity in local property regulations. How about venture land purchase on the moon :D

http://www.lunarlandowner.com/about_us.htm

PS: Apology to hijack your serious discussions here. :cheers4:

[mcmlxxvi]

TGIF. In the mood to do a post (tho kind of stupid post), but just for laugh oki:ashamed1:

So much complexity in local property regulations. How about venture land purchase on the moon :D

http://www.lunarlandowner.com/about_us.htm

PS: Apology to hijack your serious discussions here. :cheers4:

Does time there go anally or per rectum? :moon:

[flxcat]

Does time there go anally or per rectum? :moon:
might be Lunar Standard Time (LST)

[radha08]

Your boy dog gay?? Mine boy cat gay leh. He wet wet down there whenever he paw massages me!!

If gay can match make then we'll be in laws!!

CARBUNCLE STOP it:D:D:D