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Thread: Can giving away ur property escape SSD?

  1. #1
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    Default Can giving away ur property escape SSD?

    SSD is calculated on sales price right?

    Can giving away ur property escape SSD? (Change name)

  2. #2
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    Quote Originally Posted by price
    SSD is calculated on sales price right?

    Can giving away ur property escape SSD? (Change name)
    i tink cannot....only add name can but aso nid to pay bsd

    give away upon death can! no estate duty liao.....wakakaka

  3. #3
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    cannot sell for $1 meh?

  4. #4
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    Quote Originally Posted by ay123
    cannot sell for $1 meh?
    u can try

    see taxman call u lim kopi anot lor hehehe

  5. #5
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    Quote Originally Posted by devilplate
    u can try

    see taxman call u lim kopi anot lor hehehe
    No but i'm serious on giving it to my mum. IF i give my Condo to my mum now, 2.5 years time i can buy a BTO Just wondering is there SSD involved

  6. #6
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    Quote Originally Posted by price
    No but i'm serious on giving it to my mum. IF i give my Condo to my mum now, 2.5 years time i can buy a BTO Just wondering is there SSD involved
    cannot one.....u can call iras hotline to double cfm

  7. #7
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    So weird, but i thought giving away properties is allowed in SG? If so and i am willing to pay relevant SSDs, 16% times wat ? haha.

  8. #8
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    Quote Originally Posted by price
    SSD is calculated on sales price right?

    Can giving away ur property escape SSD? (Change name)
    100% cannot... even developers who wants to give one or two units to good friends also must sell them at market value. Govt needs all the stamp duty to keep in reserve bank lah... Lol! I had this conversation with my lawyers some years back and clarified the matter...

  9. #9
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    Quote Originally Posted by ysyap
    100% cannot... even developers who wants to give one or two units to good friends also must sell them at market value. Govt needs all the stamp duty to keep in reserve bank lah... Lol! I had this conversation with my lawyers some years back and clarified the matter...
    So I can give good discount? to reduce the SSD?

  10. #10
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    Quote Originally Posted by price
    So I can give good discount? to reduce the SSD?
    If you give 50% discount, you may receive phone call from IRAS or URA to check check... not sure lah but u can try then let us know lor... basically its the BSD that must be paid to authorities...

  11. #11
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    Quote Originally Posted by ysyap
    If you give 50% discount, you may receive phone call from IRAS or URA to check check... not sure lah but u can try then let us know lor... basically its the BSD that must be paid to authorities...
    haha, ok i shall call IRAS soon. Anyway i liaise with them quite often

  12. #12
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    Quote Originally Posted by ay123
    cannot sell for $1 meh?
    http://www.iras.gov.sg/irasHome/uplo...ft%20Cases.pdf

    Stamp Duty Treatment for Gift Cases

    3. For any conveyance or transfer operating as gifts, the documents shall be chargeable with stamp duty as if it were a conveyance or transfer on sale. In such instances, for transfer involving immovable properties, the stamp duty will be computed based on the market value of the immovable properties. For transfer involving shares, stamp duty will be computed based on the Net Asset Values of the shares transferred.

    4. Guidelines on the values to be declared for stamping of Gift Cases:

    4.1 For transfer Involving Immovable Properties:
    The market value of the immovable property is to be determined as at the date of execution/signing of the document. The market value of the immovable property is the price that the immovable property might reasonably be expected to fetch in the open market on an arm’s length basis.

    ...

    7. Do I need to obtain a valuation report to determine the market value of the immovable property?

    Stamp duty on the document is computed based on the market value of the property. As long as the amount declared for stamping is reflective of the market value, it is not compulsory for you to obtain a valuation report. The market value of an immovable property for the purpose of stamp duty is the price that the property might reasonably be expected to fetch in the open market on an arm’s length basis.

    ---

    Maybe i shud join them as p/t consultant lol...

    Ps: u can say my arm v short. When i reach out i only manage to find buyer willing to pay $1 and thats my mum...
    Last edited by mcmlxxvi; 06-03-12 at 18:03.

  13. #13
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    Quote Originally Posted by mcmlxxvi
    Ps: u can say my arm v short. When i reach out i only manage to find buyer willing to pay $1 and thats my mum...

    so funny !
    muz be "arm" of reasonable length la, based on 95% of population !

  14. #14
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    Quote Originally Posted by mcmlxxvi
    Ps: u can say my arm v short. When i reach out i only manage to find buyer willing to pay $1 and thats my mum...
    I'll top that and pay $2 for that property....

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