Asked by Mr. Raj Anto
I am aware that we can pay ABSD with CPF. But is there any way I can avoid raising ABSD as cash first and pay directly from CPF? Singapore PR. Planning to by HDB EA unit.
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1 Answer
Good afternoon Raj,
I presume both of you are SPR couple who had fulfilled at least SPR status of 3 years.
Usually law firm will explain to clients like both of you to pay stamp duties in cash first before applying for reimbursement if you have excess CPF OA funds.
Reason is that CPF board might not have sufficient time to release funds in time to pay IRAS thus buyers have to fork out cash first.
If you insist of paying stamp duties by CPF OA funds, this might result in late payment thus you will have to bear late payment fees.
I hope you understand.
Perhaps I can introduce some law firms for you to try whether they can assist you on your request.
Cheers!
"Your Freehold Ally, Leasehold Tactician"
YT TAN 陈永达 | ACCA Graduate, RES
R043025D
Propnex Realty Pte Ltd
(M): +65 9111 5171
(E): yt.tan91115171@gmail.com
(W):www.yttan.com
(FB): www.facebook.com/yttanassetprogessor
Accolades:
Platinum achiever (Clock $100k commission within 1 month) August 2017(Propnex)
Top Individual Achiever August 2017(Powerful Negotiators Group)
Top Private Property Transactors January 2017 (Propnex) Read More
I presume both of you are SPR couple who had fulfilled at least SPR status of 3 years.
Usually law firm will explain to clients like both of you to pay stamp duties in cash first before applying for reimbursement if you have excess CPF OA funds.
Reason is that CPF board might not have sufficient time to release funds in time to pay IRAS thus buyers have to fork out cash first.
If you insist of paying stamp duties by CPF OA funds, this might result in late payment thus you will have to bear late payment fees.
I hope you understand.
Perhaps I can introduce some law firms for you to try whether they can assist you on your request.
Cheers!
"Your Freehold Ally, Leasehold Tactician"
YT TAN 陈永达 | ACCA Graduate, RES
R043025D
Propnex Realty Pte Ltd
(M): +65 9111 5171
(E): yt.tan91115171@gmail.com
(W):www.yttan.com
(FB): www.facebook.com/yttanassetprogessor
Accolades:
Platinum achiever (Clock $100k commission within 1 month) August 2017(Propnex)
Top Individual Achiever August 2017(Powerful Negotiators Group)
Top Private Property Transactors January 2017 (Propnex) Read More