Asked by Anonymous
Dear Guru
I am a Sporean already owning a property and my partner is a PR not owning any property yet. If we want to share and buy a new condo property on a 50-50 basis, how would the government charge the ABSD then? Is it for me, my share is 12%(as a second property for Sporean) and for her 5% (as a first property for a PR). Or the government will charge both of us ABSD at 12%? Thank you
I am a Sporean already owning a property and my partner is a PR not owning any property yet. If we want to share and buy a new condo property on a 50-50 basis, how would the government charge the ABSD then? Is it for me, my share is 12%(as a second property for Sporean) and for her 5% (as a first property for a PR). Or the government will charge both of us ABSD at 12%? Thank you
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Thank you so much for your quick response in calrifying the ABSD rate for us.
We are NOT looking at new launches.
We are thinking of looking at the resale of some free hold apartments in the range of $1.6-$2.0m. Is it possible to find a way to justify a lower ABSD rate under joint names?
Of course, we know an easier way out is just to purchase the unit under a single owner as the first property of the PR.
thank you