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This is a follow up to my previous question. With the 10 million,

3. If i dont buy the house, I have friends that are in bad financial positions. I may just give them 1 or 2 million each to tide over so that they dont lose their homes and continue servicing their loans. It will not be a loan. It will be an outright gift. Will there be any tax implications for me and them in receiving this cash gift? I would hate to mess up their already complicated situations.
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3 Answers

Shawn Chew
Replied
Hi

Im not sure whats the situation and how to put it, giving money up front may solve thier immeidate issue, but how do you know it will not be abused and go into the same issue again.

As an outsider, my advise would be you may want to consider owning properties and allowing them to reside there. Ensuring a roof over thier head and family.

Shawn Read More
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Aaron Chong
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Hi, your lawyer would be the best person to consult.

Regards
Aaron
 9730 8455 
aaronchong2774@yahoo.com.sg Read More
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Steven Wang
Replied
I have read through all 3 questions.

1 and 2 have been answered by fellow agent friends.

Do get in touch with me on 3.

regards

Steven Wang
OrangeTee & Tie
khim.wang28@gmail.com
 91695023  Read More
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