Say I buy an old corner terrace. I tear down and rebuild to 1 Inter and 1 Corner terrace. After paying for the development charge, am I still subject to the Seller Stamp Duties if I were to sell the 2 houses 1 year later.
Newbie
Say I buy an old corner terrace. I tear down and rebuild to 1 Inter and 1 Corner terrace. After paying for the development charge, am I still subject to the Seller Stamp Duties if I were to sell the 2 houses 1 year later.
Newbie
I believe should still be caught as the SSD rule applies to "residential properties", which is in essence what you are proposing to buy and sell, and there is no specific remission provided.Originally Posted by stl67
Newbie
The answer is yes. Although the big CT has been redeveloped into another CT and a IT, you will still need to pay SSD as you are selling the properties within 4 years.
Newbie
Wah there is like double taxation. The hefty DC and follow by the SSD.
I guess one of the way is to rent it out first for 3 years and spend another year to reconstruct to avoid the SSD charge.
Newbie
Do developers of GLS pay SSD? or exempted?
Newbie
Technically, DC is not a tax.Wah there is like double taxation. The hefty DC and follow by the SSD.
I guess one of the way is to rent it out first for 3 years and spend another year to reconstruct to avoid the SSD charge.
Sorry, not value-adding...
Newbie
Developers of GLS do not pay SSD. Conversely, they are expected to launch and sell their GLS sites within a stipulated period or there will be a penalty payable.
Its a different ball game from private developers buying up FH land for self development.
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