Is it good time to buy 3rd PC for investment now or next year?

[freesoul]

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?

[shareidiot]

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.

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?

[freesoul]

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.

4% rent return really sounds good ...

[radha08]

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.

basically KBW does NOT want you /us to buy 3rd property thats why all the cms

[shareidiot]

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....

basically KBW does NOT want you /us to buy 3rd property thats why all the cms

[princess_morbucks]

basically KBW does NOT want you /us to buy 3rd property thats why all the cms

They should allow us to buy properties according to the number of children we have without ABSD and SSD.

[radha08]

I started 'late' (to invest). Done too much calculations during my younger days. No guts to commit a baywater unit... Haizz....

u NOT the only one

[radha08]

They should allow us to buy properties according to the number of children we have without ABSD and SSD.

good idea then everybody will be making babies

[GForce]

To the TS u should wait the tides are turning !

[princess_morbucks]

good idea then everybody will be making babies

Yup .. makes sense.
One house for each child, the more the merrier!

[chiaberry]

They should allow us to buy properties according to the number of children we have without ABSD and SSD.

LIKE!

[ysyap]

They should allow us to buy properties according to the number of children we have without ABSD and SSD.

Super LIKE!

[ysyap]

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?

[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?
Customer oriented.

[freesoul]

To the TS u should wait the tides are turning !

dun know tides will turn to which direction. really worried

[chiaberry]

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?

Transfer of inheritance can waive ABSD?

[taggy]

Transfer of inheritance can waive ABSD?

property acquired thru inheritance will not have ABSD - confirmedddd

[chiaberry]

property acquired thru inheritance will not have ABSD - confirmedddd

Sure? I can't find the place on the IRAS website that confirms this.

[ysyap]

Transfer of inheritance can waive ABSD?

He didn't say can but can write in to try...

[chiaberry]

He didn't say can but can write in to try...

This should be specifically spelt out. How can suka-suka exempt this? It is a big ticket item.

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.

[chestnut]

This should be specifically spelt out. How can suka-suka exempt this? It is a big ticket item.

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+2012

[minority]

He didn't say can but can write in to try...

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.

[minority]

This should be specifically spelt out. How can suka-suka exempt this? It is a big ticket item.

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.

expemtion is for everyone who die and transfer assets to family members.

[ysyap]

This should be specifically spelt out. How can suka-suka exempt this? It is a big ticket item.

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.

Wah... lesser motrals vs immortals!

[chiaberry]

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.

Thanks everyone for the clarification.

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.

[princess_morbucks]

dun know tides will turn to which direction. really worried

Maybe you can read this website for inspiration?

http://propertysoul.com/

It is written by one of our forummers, vip.

[taggy]

Thanks everyone for the clarification.

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.

confirmed chopped
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.

[chiaberry]

confirmed chopped
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!

[ysyap]

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!

That means got chance no need to pay ABSD? Well its ABSD but if I inherit, I'm not buying wat... Lol..

[djam7773]

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