I am a Sporean and my wife is PR. We have a co-own hdb together. We r planning to buy our 2nd property together.. Stamp Duty is 6% since it will be my wife (PR) 2nd property right? Can we apply for remission? What are the chances? If I put second property under my name no absd right? But then we can use my wife cpf to pay for the house right? pls advice. Thanks
Posted by Dan on Feb 6, 2012 in General Questions | 137 Views
Latest Answers by Real Estate Professionals (3 Answers)
Answer Posted on Feb 7, 2012
Hello Dan,
I would suggest that you to enquire directly with IRAS and get some form of approval before you proceed to buy the 2nd property jointly with your PR wife.
This will save you a lot of trouble in the purchase and loan matter.
I will be glad to assist you in your property purchase when you are ready to buy. Please call me or send me an email to discuss the detail of your budget & buying requirement, and to arrange a banker to do the loan assessment.
Look forward to be of service to you & your family.
Warmest Regards
Lewis Tan
CEA R017443F
Associate Sales Director
CBRE Realty Associates Pte Ltd
HP : 9723 6721
Email : lewistms@singnet.com.sg
www.lewistms.myweb.sg
I would suggest that you to enquire directly with IRAS and get some form of approval before you proceed to buy the 2nd property jointly with your PR wife.
This will save you a lot of trouble in the purchase and loan matter.
I will be glad to assist you in your property purchase when you are ready to buy. Please call me or send me an email to discuss the detail of your budget & buying requirement, and to arrange a banker to do the loan assessment.
Look forward to be of service to you & your family.
Warmest Regards
Lewis Tan
CEA R017443F
Associate Sales Director
CBRE Realty Associates Pte Ltd
HP : 9723 6721
Email : lewistms@singnet.com.sg
www.lewistms.myweb.sg
Answer Posted on Feb 6, 2012
Hi Dan,
Since your first property is co-owned under both names and you will be doing the same for the 2nd property, you can definitely apply for remission and from my understanding with a conversation with an IRAS officer, as long as you meet the criteria, the chances of remission is as good as there.
But if you are afraid that remission might not be granted and would like to instead put under your own name, then the ABSD will definitely not apply to you but you cant used your wife's CPF as she is not the owner of the property
Thus I will say do not worry and go ahead with the 2nd purchase under both names. If need be, you can clarify with IRAS office again as I have done for my clients
If you have any further queries or need further assistance, feel free to contact me
Rgds,
ZhiWei
Huttons Asia Pte Ltd
CEA Reg No: R008382A
Mobile: +65 9758 4090
Email: lin.zhiwei.81@gmail.com
Website: http://SGNewCondoLaunch.com
Since your first property is co-owned under both names and you will be doing the same for the 2nd property, you can definitely apply for remission and from my understanding with a conversation with an IRAS officer, as long as you meet the criteria, the chances of remission is as good as there.
But if you are afraid that remission might not be granted and would like to instead put under your own name, then the ABSD will definitely not apply to you but you cant used your wife's CPF as she is not the owner of the property
Thus I will say do not worry and go ahead with the 2nd purchase under both names. If need be, you can clarify with IRAS office again as I have done for my clients
If you have any further queries or need further assistance, feel free to contact me
Rgds,
ZhiWei
Huttons Asia Pte Ltd
CEA Reg No: R008382A
Mobile: +65 9758 4090
Email: lin.zhiwei.81@gmail.com
Website: http://SGNewCondoLaunch.com
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