Asked by Anonymous
Hi, i have a question i want to clarify.
Say I am buying a Resale Flat for 340k.
For the Stamp duties fee for the flat, that works out to about $5000, would I be able to use the money inside my CPF to pay for them? (I do have sufficient amount)
I read somewhere that you need to pay cash 1st then after that CPF will return you the money? Is that true?
I quote from the source "https://cnalifestyle.channelnewsasia.com/trending/important-things-to-know-about-using-your-cpf-to-buy-a-home-11458152"
You can pay these stamp duties with your CPF, subject to some restrictions. First, you can only use the money in your OA. Next, if you’re buying an already completed house (the house is not under construction), you must pay the stamp duties in cash first. You can then claim the amount from your CPF later (contact the CPF Board for more details). Stamp duties are due within 14 days of completing your property purchase.
Many thanks to anyone who can clear my doubt for me, thanks!
Say I am buying a Resale Flat for 340k.
For the Stamp duties fee for the flat, that works out to about $5000, would I be able to use the money inside my CPF to pay for them? (I do have sufficient amount)
I read somewhere that you need to pay cash 1st then after that CPF will return you the money? Is that true?
I quote from the source "https://cnalifestyle.channelnewsasia.com/trending/important-things-to-know-about-using-your-cpf-to-buy-a-home-11458152"
You can pay these stamp duties with your CPF, subject to some restrictions. First, you can only use the money in your OA. Next, if you’re buying an already completed house (the house is not under construction), you must pay the stamp duties in cash first. You can then claim the amount from your CPF later (contact the CPF Board for more details). Stamp duties are due within 14 days of completing your property purchase.
Many thanks to anyone who can clear my doubt for me, thanks!
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