dear gurus, if i've fund for the downpayment + ABSD for a 1-bedder, is it good time to buy 3rd PC for investment (looking for rent) now or wait and see how till next year?
dear gurus, if i've fund for the downpayment + ABSD for a 1-bedder, is it good time to buy 3rd PC for investment (looking for rent) now or wait and see how till next year?
Yesterday i asked an agent about the total outfront if i buy 3rd property.
Based on $820k property, the outfront cash + cpf is more than $500k.
Based on this property rental yield is estimated @ 4%.
Personally, i dont think i want to tie down so much cash on 3rd property.
Originally Posted by freesoul
4% rent return really sounds good ...Originally Posted by shareidiot
basically KBW does NOT want you /us to buy 3rd property thats why all the cmsOriginally Posted by shareidiot
In the final analysis.....its NOT whether you have a diploma,degree,masters OR PHD....its whether you have a HDB/PC/EC or LANDED...
Ya, and for this objective, the CMs have been effective lor ...
I started 'late' (to invest). Done too much calculations during my younger days. No guts to commit a baywater unit... Haizz....
Originally Posted by radha08
They should allow us to buy properties according to the number of children we have without ABSD and SSD.Originally Posted by radha08
u NOT the only oneOriginally Posted by shareidiot
In the final analysis.....its NOT whether you have a diploma,degree,masters OR PHD....its whether you have a HDB/PC/EC or LANDED...
good idea then everybody will be making babiesOriginally Posted by princess_morbucks
In the final analysis.....its NOT whether you have a diploma,degree,masters OR PHD....its whether you have a HDB/PC/EC or LANDED...
To the TS u should wait the tides are turning !
Yup .. makes sense.Originally Posted by radha08
One house for each child, the more the merrier!
LIKE!Originally Posted by princess_morbucks
Super LIKE!Originally Posted by princess_morbucks
Just to ask if anybody has experience or heard about special provisions given to avoid SSD/ABSD? I called up (can't remember which office, maybe URA) and asked about writing in to waive off SSD and the officer said my case is not divorce or transfer of inheritance so cannot but can always try... who knows... does anybody has any experience on this?
Isn't that the standard answer these days?Originally Posted by ysyap
Customer oriented.
Originally Posted by GForce
dun know tides will turn to which direction. really worried
Transfer of inheritance can waive ABSD?Originally Posted by ysyap
property acquired thru inheritance will not have ABSD - confirmeddddOriginally Posted by chiaberry
Sure? I can't find the place on the IRAS website that confirms this.Originally Posted by taggy
He didn't say can but can write in to try...Originally Posted by chiaberry
This should be specifically spelt out. How can suka-suka exempt this? It is a big ticket item.Originally Posted by ysyap
Well I suppose they will exempt those Ministers etc who inherit large estates.
There is no guarantee they will exempt lesser mortals like us though.
http://www.allenandgledhill.com/page...+February+2012Originally Posted by chiaberry
Originally Posted by ysyap
yes caveat is seller have die 1st. So if u can get a dying relative to buy for u and transfer to u. make sure the relative have less then 12mths.. not die before the Option is exercised. and will is stated clearly. if not u might have to wait a long time. or get into legal fight with his children or wife.
but just to safe ABSD is it worth this? u are better off decoupling the current assest.
“Nothing in the world is more dangerous than sincere ignorance and conscientious stupidity.”
― Martin Luther King, Jr.
OUT WITH THE SHIT TRASH
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Originally Posted by chiaberry
expemtion is for everyone who die and transfer assets to family members.
“Nothing in the world is more dangerous than sincere ignorance and conscientious stupidity.”
― Martin Luther King, Jr.
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Wah... lesser motrals vs immortals!Originally Posted by chiaberry
Thanks everyone for the clarification.Originally Posted by minority
Hmm...I had been trying to figure out how much $$$ I would need if parents/in-laws passed down their property. I wouldn't want to be caught in a situation where have not enough cash to keep the family home due to having to pay ABSD.
Maybe you can read this website for inspiration?Originally Posted by freesoul
http://propertysoul.com/
It is written by one of our forummers, vip.
confirmed choppedOriginally Posted by chiaberry
http://forums.condosingapore.com/sho...3&postcount=92
ABSD e-Tax guide:
First published on 7 December 2011
Second Edition published on 12 January 2012
Third Edition published on 19 January 2012
by 19-jan-2012, "5.1 – Deleted ‘Inheritance'" - inheritance already removed from ABSD.
Ah that's why I thought it was ambiguous. They deleted "inheritance" but did not specifically state that inheritance is exempted. I was thinking it might fall under the "gift" category!Originally Posted by taggy
That means got chance no need to pay ABSD? Well its ABSD but if I inherit, I'm not buying wat... Lol..Originally Posted by chiaberry
Morning,
If it s an inherited private property, does IRAS consider it as your first property? Meaning if a family member inherits a PC, he/she cannot buy a HDB anymore?
djam