Question on ABSD

[fafalulu]

If a foreigner purchase a condo and wants to upgrade, is he required to pay 10% ABSD?

Similarly, if PR owns 2 properties and intends to upgrade 1 of the property, is he required to pay 3% ABSD?

Considering that the total number of unit owned remain unchanged, is ABSD still applicable?

Just curios~

[buttercarp]

If a foreigner purchase a condo and wants to upgrade, is he required to pay 10% ABSD?

Similarly, if PR owns 2 properties and intends to upgrade 1 of the property, is he required to pay 3% ABSD?

Considering that the total number of unit owned remain unchanged, is ABSD still applicable?

Just curios~

Yes to both your questions.

http://www.iras.gov.sg/irasHome/page04.aspx?id=12818

[fafalulu]

Yes to both your questions.

http://www.iras.gov.sg/irasHome/page04.aspx?id=12818

Thanks.. the tax makes it very hard for foreigners to upgrade property

[Ringo33]

If a foreigner purchase a condo and wants to upgrade, is he required to pay 10% ABSD?

Similarly, if PR owns 2 properties and intends to upgrade 1 of the property, is he required to pay 3% ABSD?

Considering that the total number of unit owned remain unchanged, is ABSD still applicable?

Just curios~

not just the absd, I think your mortgage LTV% will also drop from 80% to 60%.