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Hi,

Yes your interpretation is correct. ABSD is calculated based on the property count as at point of transfer. At the point of transfer, your SPR spouse already owns 2 properties (lets call it property A & B). When your share of 50% of property A is transferred to him, BSD of this market value of 50% share is payable by him, as well as the ABSD of 25% on the same transferred share. This is because at point of transfer, he owns 2 property count (property A & B), so the higher ABSD rate of 25% will apply.

Hope the above clarifies. May I have more info and requirements about your plans so as to make better recommendations on the best way to minimize your costs? Thanks and look forward to value-add to your housing plans.

Warm Regards,

Ivan Ng Realtor
ERA Senior Marketing Director
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Mr & Mrs Wee : We would like to share our appreciation and commendation to Ivan for their professionalism and dedication in handling our property transaction. It was a great pleasure to work with him as he was patient throughout the entire process and explained to us and clarified any doubts we had without fail. He was also very prompt in responding to all the queries we had. While we were unsure if we were able to sell off the property in time, Ivan constantly reassured us that it was possible and offered his professional advice. In fact, he managed to secure an offer to sell the property above our expected price while concurrently negotiated the buying price for our next property. Having Ivan as our agent significantly made the entire process seamless and fuss-free. We will definitely recommend Ivan to our family and friends. Read More

BSD and ABSD will be imposed at the point of property transfer to your spouse since he already owns 1 existing property under his name and this is the 2nd property and it will be based on the amount of share that is taken over. You are right in the interpretation on scenario. Read More