Asked by Anonymous
I am a Singapore Citizen. My wife is a Singapore PR. I am 35 while she is 33.
I have never owned a property.
Our total gross income is SGD5,000
She is the co-owner (name in the title deed) of a public housing project unit in China along with her dad. Its current value is approximately SGD250,000
This is due to
a) her dad's employment conditions issuing him a unit whose size is conditional on the number of people listed residing (and therefore being in the title deed) in the unit and,
b) the single child policy of China.
I have two questions.
1) Are we eligible to buy a BTO without restriction on size/maturity of estate etc?
2) Is there any way in which the ABSD payable on a second property (in the case of my wife), can be avoided as this tax is to disincentivize speculation and ensure that purchasers of HDBs are indeed done based on need as opposed to luxury?
I have never owned a property.
Our total gross income is SGD5,000
She is the co-owner (name in the title deed) of a public housing project unit in China along with her dad. Its current value is approximately SGD250,000
This is due to
a) her dad's employment conditions issuing him a unit whose size is conditional on the number of people listed residing (and therefore being in the title deed) in the unit and,
b) the single child policy of China.
I have two questions.
1) Are we eligible to buy a BTO without restriction on size/maturity of estate etc?
2) Is there any way in which the ABSD payable on a second property (in the case of my wife), can be avoided as this tax is to disincentivize speculation and ensure that purchasers of HDBs are indeed done based on need as opposed to luxury?
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