Asked by Anonymous
We are a SC/SPR couple looking to purchase our first matrimonial home. From my research on property guru and various sources, it appeared that in order to purchase a private property, we may be subjected to a 5% ABSD. However, I have read further that it may be possible to obtain remission for the 5% ABSD. To all gurus out there, how does this remission works during the home purchase? Do we have to pay the 5% ABSD first and then attempt to get a reimbursement? Or will it be an automatic process to obtain the remission since this is our first matrimonial property. Your advice is greatly appreciated as this will likely affect our financing strategy. Thanks.
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