New Measures To Cool Property Market 30 August

[therat 18]

Hmm I thought can. As long one forms a family nucleus (spouse or kid) to buy resale hdb, it will fulfill HDB requirement liao mah.

cannot la.

under HDB rule

children under your legal custody, care and control (if you are widowed or divorced)

[Warrior88 0]

I supposed warrior's brain is more squarish, your more round. Gov scholars' inclusive of all shapes to tackle ppls like us.

Perverse Incentives. I had this perverse thought long ago liao. Thus, I reply so quickly.

My head already got horns. Haha.

[Plastic3 0]

I am in the process of selling my private ppty. Now thinking about the implications and wondering if I should just hold on instead coz I also just bought a HDB.

Depends on your intention for buying the HDB...?

[blue_skies 3]

Depends on your intention for buying the HDB...?

HDB to stay in la

[Plastic3 0]

HDB to stay in la

If your intention is to move from your private property to stay in HDB for good/or for a few years then should not have too much of an impact for you.

Just stay for 5-years, before renting out or buying another private property.

[berry05 0]

Hi all,

I got a question, in fact two, haha... I owned a 3 room flat for 10 over years and now inside the house, my mum stays(she divorcee). Rent out one room for her friends. The hdb belong solely my name and my mum is occupier.

Currently, just purchased after signing otp for the private condo. Question is as my name own hdb and staying at newly bought condo. Will I be penalised, maybe govt will want me to stay at HDB and not condo or have to sell away the HDB and stay in condo (I wish not this one as my mum no income got to stay at the flat leh).

How! Pls advise

Thanks

[Plastic3 0]

Hi all,

I got a question, in fact two, haha... I owned a 3 room flat for 10 over years and now inside the house, my mum stays(she divorcee). Rent out one room for her friends. The hdb belong solely my name and my mum is occupier.

Currently, just purchased after signing otp for the private condo. Question is as my name own hdb and staying at newly bought condo. Will I be penalised, maybe govt will want me to stay at HDB and not condo or have to sell away the HDB and stay in condo (I wish not this one as my mum no income got to stay at the flat leh).

How! Pls advise

Thanks

As long as you have fulfilled the MOP period(5-years), you are allowed to buy and stay in a private property.

Assuming you physically stayed in the Flat for 5-years or more (Did not rent out whole unit), it shouldn't affect you.

Edited September 2, 2010 by Plastic3

[therat 18]

Hi all,

I got a question, in fact two, haha... I owned a 3 room flat for 10 over years and now inside the house, my mum stays(she divorcee). Rent out one room for her friends. The hdb belong solely my name and my mum is occupier.

Currently, just purchased after signing otp for the private condo. Question is as my name own hdb and staying at newly bought condo. Will I be penalised, maybe govt will want me to stay at HDB and not condo or have to sell away the HDB and stay in condo (I wish not this one as my mum no income got to stay at the flat leh).

How! Pls advise

Thanks

Don't worry, you can buy private property and stay there.

The down side, you will lost all those rebate like PUB, T&C (those cookie that announce during budget time) for your 3 rm flat once you sign the OTP for the private condo.

Oh!

I forget to mention the property tax 10% for HDB.. if I'm not wrong.

[bepgof 20]

I forget to mention the property tax 10% for HDB.. if I'm not wrong.

IRAS super intelligently smart, always presumes you staying at unit with "lower" anual valuation- so charge 4%. The "higher" AV charge 10% - must apply to "switch", hor. Quickly change IC's address also hor.

[mel77 1]

IRAS super intelligently smart, always presumes you staying at unit with "lower" anual valuation- so charge 4%. The "higher" AV charge 10% - must apply to "switch", hor. Quickly change IC's address also hor.

Not sure about that leh! Remember a friend mention that the moment they collected keys to their condo, the subsidies for their 3rm HDB and whatever all removed. The letter came almost like 2 days after collection of keys. Then for the IRAS part, it was based on the condo. Kekekek!!

Effeciency @ work!

[JCase 0]

Don't worry, you can buy private property and stay there.

The down side, you will lost all those rebate like PUB, T&C (those cookie that announce during budget time) for your 3 rm flat once you sign the OTP for the private condo.

Oh!

I forget to mention the property tax 10% for HDB.. if I'm not wrong.

10%of annual value right?

[bepgof 20]

10%of annual value right?

4% first property, 10% for 2nd property. 4% on the one where you stay. Just make sure you physically stay or yr IC stays at the one with more expensive annual valuation.

Edited September 3, 2010 by bepgof

[berry05 0]

Thank you for all reply, appreciated. What do you mean change, is it the IC address and if me and husband staying condo,property tax is 4 % right and how abt the HDB.

thanks

[bepgof 20]

Thank you for all reply, appreciated. What do you mean change, is it the IC address and if me and husband staying condo,property tax is 4 % right and how abt the HDB.

thanks

If yr IC address remains at hdb but physically body at pte, IRAS will charge 4% to HDB & 10% to pte. Even if you change IC address to pte (4%) and hdb become 10%. IRAS will still keke, send you hdb4% & pte10%. So, make sure besides change IC, also appeal online!

With IC's address change, you have proof, IRAS then LL. Althought the slip mentions address change notice being sent to all gov bodies....

Edited September 3, 2010 by bepgof

[Everybody 0]

Change in Address nothing to do with property tax.

Change in address is mandatory by Immigration & Checkpoints Authority (ICA) within 28 days.

For property tax,

If you own and live in a private residential property, you may apply for the owner-occupier concession, by default it is 10% based on rental.

For new and resale HDB flat owners, you need not apply. The owner-occupier concession will be automatically granted to you

What if I own both a HDB Flat and a Private Residential Property?

If you own both a HDB flat and a private residential property, the owner-occupier concession will automatically apply to the HDB flat as HDB flat owners are required to live in their flats.

But if you wholly rent out your flat and live in your private residential property, the owner-occupier concession on your flat will be withdrawn from the date of letting. You may then apply for the owner-occupier concession for your other private property.

You need to notify IRAS within 15 days of the receipt of the rent if your property is let and rent is charged for the letting of the property.

The penalty for non-compliance of the above obligation is an up to $5,000 fine and a 10% interest rate charge on the Property Tax payable (if any).

CHEERS