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Thread: question on absd

  1. #1
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    Default question on absd

    if i have a hdb flat today and i buy a NEW ec which ready in 4 years time do i have to pay the ABSD of 7% for 2nd property upon booking of my EC and in 4years time when i sell my HDB(cos cannot own 2) i will get back my ABSD from govt can anyone enlighten me if this is the current law tks
    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...

  2. #2
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    For new EC, I think ABSD is exempted.

  3. #3
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    From iras website:

    b) ABSD Refund on Purchase of Second Residential Property

    Purchase of second residential property by a married couple involving at least one SC spouse may qualify for ABSD refund subject to the following conditions :

    (i) ABSD has been paid on the second residential property;

    (ii) The first property (co-owned or owned separately) is sold within 6 months from the date of purchase of the second property (if it is a completed property) or TOP/CSC (whichever is earlier) of the second property (if it is an uncompleted property);

    (iii) The married couple has not purchased or acquired a third or subsequent property from the date of purchase of second property to the date of sale of the first property.

  4. #4
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    Sorry, think Sandpapa is correct

  5. #5
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    oh ok thanks thats how boring the property market is i think of stupid things like this
    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...

  6. #6
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    for non EC, this is applicable. ABSD has to be paid up front then rebate later.

    Quote Originally Posted by condolisa
    From iras website:

    b) ABSD Refund on Purchase of Second Residential Property

    Purchase of second residential property by a married couple involving at least one SC spouse may qualify for ABSD refund subject to the following conditions :

    (i) ABSD has been paid on the second residential property;

    (ii) The first property (co-owned or owned separately) is sold within 6 months from the date of purchase of the second property (if it is a completed property) or TOP/CSC (whichever is earlier) of the second property (if it is an uncompleted property);

    (iii) The married couple has not purchased or acquired a third or subsequent property from the date of purchase of second property to the date of sale of the first property.

  7. #7
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    Quote Originally Posted by radha08
    if i have a hdb flat today and i buy a NEW ec which ready in 4 years time do i have to pay the ABSD of 7% for 2nd property upon booking of my EC and in 4years time when i sell my HDB(cos cannot own 2) i will get back my ABSD from govt can anyone enlighten me if this is the current law tks
    If you own a private property, you cannot buy HDB or EC, same rules apply.

  8. #8
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    what about this

    1. living in hdb

    2. buy new EC. ABSD exempted, EC ready in 4 years time

    3. from now till 4 years time, can buy a ready private property (ie shoebox) for rental yield while still living in hdb? absd is 7% or 10%?

    4. when EC is ready, move in and sell hdb

    5. finally, live in EC and hold on private for rental yield

    Quote Originally Posted by CondoInterested
    If you own a private property, you cannot buy HDB or EC, same rules apply.
    Last edited by wt_know; 16-05-13 at 20:31.

  9. #9
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    hmm... interesting...

    Does the 5yr MOP of HDB applies for EC?

  10. #10
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    Quote Originally Posted by wt_know
    what about this

    1. living in hdb

    2. buy new EC. ABSD exempted, EC ready in 4 years time

    3. from now till 4 years time, can buy a ready private property (ie shoebox) for rental yield while still living in hdb? absd is 7% or 10%?

    4. when EC is ready, move in and sell hdb

    5. finally, live in EC and hold on priivate for rental yield

    Buy EC cannot buy private already la

  11. #11
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    Quote Originally Posted by CondoInterested
    hmm... interesting...

    Does the 5yr MOP of HDB applies for EC?
    Yes

    Please read up Hdb n ura website

  12. #12
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    Ur Sea Esta bought under kid name???

    My boy-cat is 8 yrs old. Thats 48yo in human equivalent.
    Can i buy under his name..

    He is adopted though. But i am legal carer and guardian lol.

    Which brings me to a weird business idea. Is there a market where over 21yo orphans put themselves up for lease to parties who need to buy under someone else name... lol. Lease is only for the tenure of the loan or holding period of the property.
    click: 🏢shoeboxmickeymousehouse 🏢

  13. #13
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    Quote Originally Posted by mcmlxxvi
    Ur Sea Esta bought under kid name???

    My boy-cat is 8 yrs old. Thats 48yo in human equivalent.
    Can i buy under his name..
    bro sea esta under my name i asking this question dont apply to me just a general question la ---my boy dog love chasing boy cat last night just chase one
    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...

  14. #14
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    Quote Originally Posted by radha08
    bro sea esta under my name i asking this question dont apply to me just a general question la ---my boy dog love chasing boy cat last night just chase one
    Your boy dog gay?? Mine boy cat gay leh. He wet wet down there whenever he paw massages me!!

    If gay can match make then we'll be in laws!!
    click: 🏢shoeboxmickeymousehouse 🏢

  15. #15
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    TGIF. In the mood to do a post (tho kind of stupid post), but just for laugh oki

    So much complexity in local property regulations. How about venture land purchase on the moon

    http://www.lunarlandowner.com/about_us.htm

    PS: Apology to hijack your serious discussions here.

  16. #16
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    Quote Originally Posted by flxcat
    TGIF. In the mood to do a post (tho kind of stupid post), but just for laugh oki

    So much complexity in local property regulations. How about venture land purchase on the moon

    http://www.lunarlandowner.com/about_us.htm

    PS: Apology to hijack your serious discussions here.
    Does time there go anally or per rectum?
    click: 🏢shoeboxmickeymousehouse 🏢

  17. #17
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    Quote Originally Posted by mcmlxxvi
    Does time there go anally or per rectum?
    might be Lunar Standard Time (LST)

  18. #18
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    Quote Originally Posted by mcmlxxvi
    Your boy dog gay?? Mine boy cat gay leh. He wet wet down there whenever he paw massages me!!

    If gay can match make then we'll be in laws!!
    CARBUNCLE STOP it
    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...

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