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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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8 Answers

Good afternoon,

For ABSD refund, there are also other eligibility conditions to fulfill such as your current property being a matrimonial property purchased in joint name basis, and the next property also purchased in a joint name basis with at least 1 Singaporean as the purchasers, and the property disposed in the required timeline. If you are purchasing a new launch under construction property, the current property will have to be sold within 6 months after the TOP of next property is obtained. More info are evident at

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

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 Realtor ASAP
(ASk Anything Property)
Proactive. Sincerity. Feedback.
SMU BBM (Finance), Magna Cum Laude

Contact: (+65) 97432395 
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Robbie Chen Chee Howe
Hi,

If you purchased a new launch under construction under joint-name with your spouse, the 6 months period starts from the TOP of the development.

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 in the current market.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
PropNex Realty Read More
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Hi, the 6 months period will start from the TOP date. Pls feel free to let me know if you need any assistance. Have a good weekend.

Regards
Aaron
 9730 8455 
aaronchong2774@yahoo.com.sg Read More
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Dear Sir/Mdm,

The 6 months start from the TOP date of the new project you are buying. It will be ideal to start once you have an idea of the TOP date as searching for a buyer who is willing to pay a good price for your unit takes time.

I have met people who started the marketing process late and miss out on the ABSD reimbursement as IRAS do not approve any extension of time.

Please feel free to contact me if you need any 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 get to know me better:
www.nicktan.com.sg

I was featured recently on Council for Estate Agencies (CEA) Newsletter:
http://bit.ly/CEAnews

Testimonial from Satisfied Clients

“I would like to recommend Nick Tan from SRI. Before we engaged Nick, we were working with another agent from a very popular property agency in February 2017. We decided to terminate the contract after 5 weeks of zero viewings and no paper advertisements. Basically he was just waiting for phone calls. We engaged Nick on 20th April and by 10th of May, our unit was sold off. Why Nick? 1. He has good marketing strategies 2. He always kept us posted on what he did (communications!) 3. He made sure we understand the current market situation but he will consistently reassure us that the unit can be sold off 4. He is not greedy and trusting 5. He walks the talk”
Peter & Wendy (Property Seller)

I write to commend Nick Tan (R040814C). When my husband and I first met Nick, we were impressed by his drive, commitment, business acumen and strategical thinking, and decided to engage him. We were not disappointed. Nick sourced for prospective quality buyers in a targeted methodical fashion and was effective in connecting us with serious buyers, notwithstanding the fact that the search primarily took place over Dec – Feb (a traditional lull period). Throughout the transaction, he also gave us helpful advice in various aspects; the advice reflected his personal experience and expertise and was not simply regurgitated from public sources without any value-add. Further, Nick went beyond the call of duty of a competent professional. He had a sense of humanity in the way he interacted with myself and the other parties to the transaction such as my parents. As an example, my newborn daughter was warded into A&E on the completion date of the transaction; the care and concern that Nick showed went beyond the scope of work of an estate agent. I commend Nick for his capabilities and character, and would certainly wish to engage him for future property transactions.
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“We are very grateful to Nick for his extensive marketing efforts. With his comprehensive marketing plan, he helped us to achieve a record selling price within 2 weeks of listing our property for sale! We highly recommend his service to anyone who is keen to sell their properties.”
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“Nick provides a delightful customer experience from day one when I engage him as my agent to look for a flat of my choice to the completion of the deal. He is competent, resourceful and has a pleasant manner to work with. He is the Agent of my choice in dealing with properties and I would highly recommend him to others who would appreciate an agent that takes care and can give the customer a peaceful mind.”
Susana (Buyer) Read More
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Hi Sir/Madam

Has your EC fulfilled 5 years MOP?
For buc, the 6 months period starts from the TOP of the development.
May I know more about your requirement so I can advise you further?

Please contact me at (65) 96608508  or Silviayang8@gmail.com
or click here http://bit.ly/2tzIQ1a for non obligation discussion.

Thank you.

Warmest regards,

Silvia Yang

PropNex Realty Pte Ltd
Mobile: (65) 9660 8508 
Email: Silviayang8@gmail.com
www.facebook.com/SilviaProperty Read More
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Hi,

1) For EC, there is a MOP to fulfill before you are allow to sign S&P for a new launch private project.

2) The 6 months mentioned starts from the date of TOP issue. Although your key collection might be on the different date from TOP date.
You may also apply for remission upon disposing your current property anytime. You don't have to wait till TOP if you wish to get back your ABSD sooner.
Thus it is common to starts the selling process earlier than the expected TOP.

3) Do note that remission only applicable to married couple who joint purchase the next matrimonial property. And at least one of the owner is SC.

Hope the above answer to your main concerns, but if there are more queries, please feel free to contact me at 90110636  , or email: ling.ck7@gmail.com if more information is needed.
I'll be glad to assist.

Best regards
Ling CK
 90110636 
ling.ck7@gmail.com

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