7 legal ways to 'avoid' ABSD in Singapore
As such, be warned that the government is now clamping down on people using. On April 2023, the Inland Revenue Authority of Singapore announced that they will be investigating homeownership arrangements split in a 99-to-1 ratio. In fact, the government is so against decoupling that whistleblowers who expose buyers utilising such tactics can receive a reward based on 15% of the tax recorded from IRAS.
We also do not recommend pursuing decoupling due to the potential challenges of a sole individual bearing the full burden of repaying a mortgage, given that their income may not suffice to cover such a substantial financial obligation alongside daily expenses. Furthermore, decoupling may lead to future conflicts, as it involves relinquishing ownership rights over your HDB flat.
“It’s all about opportunity. If you miss a good buy because you are waiting for a situation where you can save ABSD, you might miss a good deal. Saving money does not mean you make more in the long run. There are some properties that have a good rate of appreciation and a good rental yield. In that vein, ABSD can be seen as one of the ‘costs’ of business,” he says.
Grace cautions that buyers should always evaluate their finances thoroughly before proceeding to upgrade or buy a new property. “When the math is in place, it determines the availability of your options and the limitation of your property choices,” she says.
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