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I understand we can claim back the ABSD for 2nd property if we can manage to sell off the existing one within 6 months.
If I am staying in a EC now and buy a new launch private property, when does the 6 months start? From the signing of S&P or starting from TOP?
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5 Answers

Hi,

There are other requirements to be met such as the current property being your jointly owned matrimonial property, and also purchasing the next one as the jointly owned matrimonial property. There also must be at least 1 SC as the owner. IRAS has made it pretty clear on their official page.

https://www.iras.gov.sg/irashome/Other-Taxes/Stamp-Duty-for-Property/Claiming-Refunds-Remissions-Reliefs/Remissions/Remission-of-ABSD-for-A-Married-Couple/

In your case, if eligible, it should be within 6 months of issuance of TOP date of uncompleted property.

May I have more info and requirements about your plans so to make better recommendations? Thanks and look forward to value-add to your housing plans.

Warm Regards,
Ivan Ng ERA ASAP
(ASk Anything Property)
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SMU BBM (Finance), Magna Cum Laude

Email: Ivanng10@gmail.com
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Dear Sir/Mdm,

For new condo development purchase, the 6 months period will start from the date of the TOP. You will have to purchase the new development under both husband and wife name to be eligible for the refund.

I have assisted my clients to sell off their property within 6 months and they had successfully claimed back the ABSD. Please feel free to contact me if you need further assistance!

Regards,
Nick Tan
(M) +65 9644 4854 
B.Eng(Chemical)(Hons)(NUS)
Cert-in-REA
(E) nick96444854@gmail.com
Visit my website to know me better: www.nicktan.com.sg

I was featured recently on Council for Estate Agencies (CEA) Newsletter:
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Mr and Mrs Chan (Sold and Bought a property through Nick) Read More
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Robbie Chen Chee Howe
Hi,

In the case of the purchase of a Building Under Construction (BUC), the 6 months grace period will commerce from the TOP of the development.

Do take note that the condo purchase will have to be under joint-purchase in order for you to be eligible for ABSD refund.

Should you need any further assistance in matters relating to property, please contact me at my mobile 9748 6305  . I will be happy to assess and share with you the possibilities for you and your partner in the current market.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More
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