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My wife holds 10% of her current home. We are planning to buy our own home and she is going to hold 20%. We would like to check for the 7% stamp duty, would it be for the purchasing price, or only for 20% of the property she holds? Also, for the loan, can she repay using CPF in this case? Thanks!
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3 Answers

YT Tan (陈永达)
Replied
Happy new year to you, Jimmy!

Application of 7% ABSD will be based on the purchase price and if she's an owner of the purchase, she is eligible to use her CPF OA funds for the monthly mortgage repayment.

If you guys don't want to incur ABSD, you might want to advise her to dispose off her 10% in current property.

Hope my explanation helps!

If you guys need further assistance or advice in your property purchase, feel free to contact me. Cheers!

Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
Vice President (Agency)
R043025D
Property Avenue Pte Ltd
Estate Agent no. L3010650D
Blk 420 North Bridge Road #03-30 North Bridge Centre S188727

(M): +65 9111 5171 
(E): yt.lovelyhomes@gmail.com
(W): www.yttan.com
(W): www.propertyavenue.com.sg Read More
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Ivan Ng
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Hi Jimmy,

The 7% ABSD will be on the purchase price. She may wish to dispose her 10% stake on 1st property before you guys purchase. Also, cpf can be used to finance the loan. May I know which condo project are you considering? There could be a workaround which we can explore, but more details are required. Thanks and hope to discuss further and value-add.

Warm Regards,
Ivan Ng ERA ASAP
(ASk Anything Property)
Proactive. Sincerity. Feedback.
SMU BBM (Finance), Magna Cum Laude
Email: Ivanng10@gmail.com
Contact: (+65) 97432395 
CEA Registration Number: R052114D
ERA Realty Network: L3002382K
Facebook Page: www.facebook.com/ASAProp
Website: http://www.ivanng10.com/#!reviews/c11r1
(Client's Testimonials) Read More
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YT Tan (陈永达)
Replied
Good evening Jimmy

Alternatively you can purchase solely under your name as a single singaporean. In this way, you wont be subject to ABSD.

It's either this or that. Not much choices left.

Is there anything else I can assist further in your property purchase?

Warmest Regards,
YT TAN 陈永达 | ACCA Graduate, RES
Vice President (Agency)
R043025D
Property Avenue Pte Ltd
Estate Agent no. L3010650D
Blk 420 North Bridge Road #03-30 North Bridge Centre S188727

(M): +65 9111 5171 
(E): yt.lovelyhomes@gmail.com
(W): www.yttan.com
(W): www.propertyavenue.com.sg Read More
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