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Thread: 1% Ang Pow

  1. #1
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  2. #2
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    Property above $1m will charge additional 1% stamp duty. Likely 1 and 2 bedders will be popular since most r priced below $1m.

  3. #3
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    Quote Originally Posted by star View Post
    Property above $1m will charge additional 1% stamp duty. Likely 1 and 2 bedders will be popular since most r priced below $1m.
    For property value $1M or lesser
    P.P X 3% - $5,400

    For property value more than $1M
    P.P X 4% - $15,400

    Before $1,000,000 BSD = 3%-$5400=$24,600.

    Now $1,000,000 BSD=4%-15,400=$24,600.

    Next $100,000=4%-15,400=28,600.

    For every $100,000 only add $1000. ?????? why buy below $1M.

  4. #4
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    Quote Originally Posted by Arcachon View Post
    For property value $1M or lesser
    P.P X 3% - $5,400

    For property value more than $1M
    P.P X 4% - $15,400

    Before $1,000,000 BSD = 3%-$5400=$24,600.

    Now $1,000,000 BSD=4%-15,400=$24,600.

    Next $100,000=4%-15,400=28,600.

    For every $100,000 only add $1000. ?????? why buy below $1M.
    Where u get the - $15400?

  5. #5
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    Quote Originally Posted by Arcachon View Post
    For property value $1M or lesser
    P.P X 3% - $5,400

    For property value more than $1M
    P.P X 4% - $15,400

    Before $1,000,000 BSD = 3%-$5400=$24,600.

    Now $1,000,000 BSD=4%-15,400=$24,600.

    Next $100,000=4%-15,400=28,600.

    For every $100,000 only add $1000. ?????? why buy below $1M.
    It's easier to read this:

    Now $1,000,000 BSD=3%-5,400=$24,600 (because only amounts above 1 million get 4%).

    Next $100,000 = $24,600 + (4% of 100,000) = 28,600. versus the old scheme of $27,600.

    The difference is very mild until the price goes into multi-millions. But if someone can pay multi-million for a property (e.g. 10 million), they probably should pay more (say $90,000 more).
    The three laws of Kelonguni:

    Where there is kelong, there is guni.
    No kelong no guni.
    More kelong = more guni.

  6. #6
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    Ic

  7. #7
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    First $180,000 1% $1,800.00
    Next $180,000 2% $3,600.00

    First $360,000 $5,400.00

    Next $640,000 3% $19,200.00

    First $1,000,000 3% $30,000.00

    First $1,000,000 $30,000-$5400 $24,600.00

    Remaining Amount $1,100,000.00
    $1,000,000.00 $24,600.00
    $100,000.00 4% $4,000.00
    $28,600.00
    Remaining Amount 1000000 4% $40,000.00
    $(15,400.00) $24,600.00

    Old First $1,000,000 3%-%5400 = $30,000-$5,400.
    New First $1,000,000 4%-15,400= $40,000-15,400.
    Last edited by Arcachon; 20-02-18 at 05:37.

  8. #8
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    the effect is minimal on mass market and also negligible on multi million properties. however, it was reported in the news that a housewife quickly bought the last new futura 4 bedder at 7.7m to save 67k last night.

  9. #9
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    Quote Originally Posted by bargain hunter View Post
    the effect is minimal on mass market and also negligible on multi million properties. however, it was reported in the news that a housewife quickly bought the last new futura 4 bedder at 7.7m to save 67k last night.
    housewife know how long she need to save to get 67K.

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