Asked by Mdm. Jessie Seah
Is it true that if the profits made from the selling of a current flat exceeds more than $50K, then half of the profits has to go back into CPF, ordinary account? Is it mandatory? For example, Current flat was bought at 250K , Sold at $450K . After topping back 250K back to CPF, the profits are $200K (including COV). Must I still put the half of the profits , i.e $100K , back into CPF? Anyway to avoid this if it is true?
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