Asked by Mr. Mugen Fire
Hi Agents,
We need some guidance whether safe to proceed, we are both, below 55.
Plan:
Sell: Current flat (TOP 2016, 87sqm) for ~$1.2M.
Buy: Resale flat (TOP 2005, 115sqm) for ~$1.2M.
My understanding of the rules (please confirm):
CPF Refund: Since I am below 55, when I sell, all CPF goes back to my OA (not stuck in RA). Correct?
Retirement Sum (BRS/FRS): These restrictions only kick in at age 55, so they don't affect my purchase now. Correct?
Lease: The 2005 flat has ~79 years left. I did the math (Age + 79 > 95), so I can use full CPF. Correct?
Levy: Buying a resale flat means no Resale Levy. Correct?
We need some guidance whether safe to proceed, we are both, below 55.
Plan:
Sell: Current flat (TOP 2016, 87sqm) for ~$1.2M.
Buy: Resale flat (TOP 2005, 115sqm) for ~$1.2M.
My understanding of the rules (please confirm):
CPF Refund: Since I am below 55, when I sell, all CPF goes back to my OA (not stuck in RA). Correct?
Retirement Sum (BRS/FRS): These restrictions only kick in at age 55, so they don't affect my purchase now. Correct?
Lease: The 2005 flat has ~79 years left. I did the math (Age + 79 > 95), so I can use full CPF. Correct?
Levy: Buying a resale flat means no Resale Levy. Correct?
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