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I paid additional 15% tax on my first property when I was still an EP holder. Im currently a 1st year PR and intended to buy 2nd property (read somewhere.. tax is 5%). Is there any way that I can claim back the "overpaid portion" on my first property (15%-5%) to offset this 5% tax on my second property?
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1 Answer

Hi,

As a PR purchasing a 2nd residential property, you will be subjected to 10% ABSD instead of 5% that u read. Unfortunately It is also not possible to "reclaim" this 10% "overpaid portion" tax that you were referring to.

May I know which project you are considering at the moment for investment? Will be glad to share with you more the required steps and make a financial projection whether it is worth investing. Thanks!

Warm regards,
Ivan ERA
 97432395 
Ivanng10@gmail.com Read More
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