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Currently I own 2 properties and my partner owns 1 property. If we wish to buy another property in a 50:50 ownership, does my partner need only to pay 50% of 17% ABSD and I will need to pay 50% of 25% ABSD? or both will need to pay 25% ABSD ? ie whichever ABSD is more. Appreciate any advise.
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8 Answers

Hi,

I would be most glad to assist you further and please feel free to let me know if you need any assistance. Have a good day ahead. By the way, if you are a local citizen going for 3rd property, then your stamp duty payable will be at 18%.

Regards
Aaron Chong
 9730 8455 
aaronchong2774@yahoo.com.sg Read More
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Good afternoon,

In this case, IRAS will take the higher applicable ABSD rate of both purchasers, and apply that on the purchase price or valuation (whichever higher). So the ABSD rate payable is 25% on the 100% total purchase price.

May I know if you are looking at resale or new launch? Perhaps I could have more info and assist to structure your purchase accordingly in a way that minimizes upfront costs.

May I have more info and requirements about your plans so as to make better recommendations? Thanks and look forward to value-add to your housing plans.

Warm Regards,

Ivan Ng Realtor
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Hi Sir/Mdm,

The stamp duty of the property purchased will be at the rate of 25% as the higher rates (because it will be your 3rd) will apply although the property is only considered as a 2nd one for your partner.

Please feel free to contact me so that I can understand your situation and assist you further.

Regards,
Nick Tan
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Hi,

1) The IRAS will take the highest rate if there are 2 different rates applied to 2 persons.
2) For example, since you own 2 properties now, the next purchase will be the 3rd.
3) As a Singaporean, the ABSD of the 3rd property for SC is 25%.
4) This property shall be subject to an ABSD of $250,000 for a $1,000,000 property.
5) This has nothing to do with how many shares you owned; even if you only owned 1% of this 3rd property. The ABSD rate remains the same.

Hope the above answer your main concerns, but if there are more query, please feel free to contact me at 90110636  , or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.

Best regards
Ling CK
 90110636 
ling.ck7@gmail.com
https://R056727F.propnex.net/
https://www.facebook.com/Homesellerbuyer

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Dear sir/mdm,

The higher ABSD will be applicable for the purchase, not a breakdown based on percentage. Hope the above helps.

I have been in the real estate business since 2009, with more than 13 years of experience serving the Singapore real estate market.

I am very active in the residential segment of Singapore real estate market, having transacted hundreds of deals from HDBs to private condominiums and landed properties in Singapore, and have handled many unique cases in sales and purchases as well as rental deals.

Over the years, I have also established a network reaching out to more than 9,400 expatriates, bringing my market presence to both in and outside of Singapore. This has created an additional exposure when I manage my client's portfolios, on top of the conventional on and offline platforms, where other estate agents are relying on. This has allowed me to consistently convert leads into results.

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Geryl Lim
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Dear Sir/Madam,

Hi, I am Brendan!

The higher ABSD will be payable, amount will depend on the purchase price. I.e. 25% x purchase price = ABSD payable. How much each person to pay will depend on individual agreement.

Recently i had helped a client purchase his dream condo without COV, below valuation and no cash involved.

I would like to share with you more about my analysis, pls contact me at 9754 5207  .

Pls contact me at 9754 5207  .
Or Whatsapp me by clicking this link: wa.me/6597545207 which will direct you to open Whatsapp on your mobile phone.

Thank you!
Brendan Bay,
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Robbie Chen Chee Howe
Hi,

ABSD will be levied 100% on the higher-tier of all owners, meaning in this case 25% on the full purchase price.

I am experienced and well-versed in both HDB and private transactions. I will be able to assist you in your property plans. Please get in touch with me for a more in-depth discussion.

Should you need require further assistance in matters relating to property, please contact me at my mobile 9748 6305  . I will be happy to assess and share with you the possibilities for you in the current market.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More
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