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Morning,

PR status do not expire. It's your re-entry permit that expires. So if you are required to travel around, it will then pose as an issue. To my understanding, profit make from sales of property is not taxable.
Once you loses your PR status, you will be treated as foreigner and the ABSD payable will be 15%, in cash.

FYI
Mike Lim
 96929209 
m52i@yahoo.com
ERA Read More

Hi Sri,

I believe it would have struck you that you will be subjected to additional 10% of stamp duty as a buyer upon relinquishing your PR status. I would advise you to act fast in your sale and purchase to capitalise the status of being a PR currently. There is no tax on capital gain here unless you are subjected to Seller Stamp Duty for the sale which I will need more information to verify. The government has recently announced from my understandstanding that there road widening has been planned for the stretch of road along Pasir Panjang, therefore if your current property is situated along this stretch, it maybe wise to be start on the whole process sooner than later.

I have an interesting project upcoming in District 15 Haig Road, with several dual key 3 bedroom units, which should generate pretty attractive rental returns. Location is also fantastic as it is within 15minutes walk to Paya Lebar MRT Station (interchange) and various amenities.

Do get in touch with me soon if you require any further advises.

Regards,

Geryl LIM
Senior District Manager
CEA Reg R014783H
Mobile: +65-81577565  /+65-92787772
Email: geryl7772@gmail.com
ECG Property Pte Ltd (L3009759F)
Dynamic Alliance Group @ www.DAG.com.sg
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