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Hello everybody. I am planning to purchase an EC. Does anyone know how HDB performs the combine income calculation for CPF housing grant? Do they take 13th month salary into consideration? Bonus? Commission? Allowance? Thank you!
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6 Answers

Hi Mindy
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Hi. Let me walk you through the entire process. There is no commission payable for buyer. Propnex is the marketinf agency for most Ecs.

Feel free to reach me via 91442664  for a detailed chat.
Looking Forward to hear from you.
Tricia Tan
 91442664  Read More
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YT Tan (陈永达)
Good afternoon Mindy,

HDB will take in your basic monthly salary and any monthly fixed allowance/ bonus/ commission into the computation for combined income so not to worry, 13th month bonus is considered as variable in which it will not be taken into consideration.

I had helped my buyers to appeal against their combined income in order to obtain the maximum CPF housing grant of $30k before as well.

Perhaps you can share more information with me so I will be in a better position to advise you further.

EC purchase is a great move. Hope to hear from you soon!

One of well-earned Star Performers under the category of Top Private Property Transactors in Jan 2017-

"Your Freehold Ally, Leasehold Tactician"

YT TAN 陈永达 | ACCA Graduate, RES
Associate Group Director
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Propnex Realty Pte Ltd
Blk 480 Lorong 6 Toa Payoh, #11-95 HDB Hub East Wing, Singapore 310480

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Hi,

Is your bonus of recurring nature? If so it will be factored into the calculation. Both of you are fixed salary personnel or? I am quite active in EC sales and would be in a good position to advise the detailed financial plan and timeline.

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

Warm Regards,
Ivan Ng ERA ASAP
(ASk Anything Property)
Proactive. Sincerity. Feedback.
SMU BBM (Finance), Magna Cum Laude

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Hi Mindy,

It depends on whether the bonus is recurring and for commissions, it may be subjected to a haircut especially for self employed personnel. 13 month bonus is usually not factor into the calculation.

Your main concern is whether you are eligible to purchase an EC or you wish to maximise on the grant approval?

Instead of scratching your head over the figures, why don't you send me your supporting documents so that I can do a calculation for you and advise you accordingly.

I have assisted many of my clients to purchase an EC and had also assisted some of them to appeal successfully against the income ceiling. Please feel free to contact me so that I can understand your situation better and provide you with further assistance!

Regards,
Nick Tan
(M) +65 9644 4854 
B.Eng(Chemical)(Hons)(NUS)
Cert-in-REA
(E) nick96444854@gmail.com
(W) www.nick-tan.com

Testimonial from Satisfied Clients (2016)
“Nick is a responsible, efficient and excellent salesperson. He has very good knowledge of the real estate market and I benefited a lot from his advice and sharing. He is extremely patient when guiding me through the buying process and I am happy to secure a dream house within my budget with his assistance. A highly recommended salesperson who made my house hunting journey a breeze.”
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“Nick provides a delightful customer experience from day one when I engage him as my agent to look for a flat of my choice to the completion of the deal. He is competent, resourceful and has a pleasant manner to work with. He is the Agent of my choice in dealing with properties and I would highly recommend him to others who would appreciate an agent that takes care and can give the customer a peaceful mind.”
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When determining eligibility for purchasing an HDB flat, the income ceiling is based on the combined household income. This includes both fixed components (such as basic monthly salary and fixed allowances) and variable components (like bonuses and commissions). However, the 13th-month bonus is considered a variable component and is not factored into the assessment
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