No Cash For Re-sale Condo?

[therat 18]

i dont know what you were talking about leh. blur!

if the selling price is $800,000 (pte property) then 3% stamp fees is about $24,000. so, stamp fees $24,000 still can deduct $5,400 meh? eventually, the stamp fees is $24,000 - $5,400 = $18,600?

$5,400 is the standard deduction?

btw, i dont understand in red leh.

eg.. SP $800 000.

Stamp fee is (SP * 3% ) -5400 = $18600

what I mean is.. buying flat regarding Pte, landed, HDB flat, resale or direct from HDB.

If u are buying, u r subjected to this stamp fee.

[l_club23 0]

eg.. SP $800 000.

Stamp fee is (SP * 3% ) -5400 = $18600

what I mean is.. buying flat regarding Pte, landed, HDB flat, resale or direct from HDB.

If u are buying, u r subjected to this stamp fee.

The actual formula is

First $180,000 1% duty

Next $180,000 2% duty

Anything more 3% duty.

[Warrior88 0]

The actual formula is

First $180,000 1% duty

Next $180,000 2% duty

Anything more 3% duty.

Means if $360,000 no need to pay ???

Cause 5400 - 5400 = 0

[therat 18]

Means if $360,000 no need to pay ???

Cause 5400 - 5400 = 0

hahaha..

cannot be..

if 3 room flat 180000 * 1% = 1800.

Does it mean government need to pay us 5400-1800 = $3600

[Warrior88 0]

hahaha..

cannot be..

if 3 room flat 180000 * 1% = 1800.

Does it mean government need to pay us 5400-1800 = $3600

Exactly ... so what is the meaning of 1% - first 180,000

[Warrior88 0]

Just check IRAS website .. nothing on $5400 is mention ....

Looks more like I_club23 is correct.

[Warrior88 0]

Comfirmed I_club23 is correct ...

For amount less than 360,000 you don't deduct 5400

For amount more than 360,000 , you can use ( purchase amount X 3% - $5400 )

Cos 5400 is actually the first 360,000 calculation lah ....

[zirhk3355 1]

Check out the stamp duty calculator here:

http://www.mediafire.com/?97dzngs9ibb

Click on "Sale and Purchase of Immovable Property" and enter the selling price of the property. Also can calculate the stamp duty for lease/tenancy.

[korea 0]

eg.. SP $800 000.

Stamp fee is (SP * 3% ) -5400 = $18600

what I mean is.. buying flat regarding Pte, landed, HDB flat, resale or direct from HDB.

If u are buying, u r subjected to this stamp fee.

yup la, its a must that the buyer has to pay the stamp fees. this i know. but i'm curious why so good can deduct the $5400.

Comfirmed I_club23 is correct ...

For amount less than 360,000 you don't deduct 5400

For amount more than 360,000 , you can use ( purchase amount X 3% - $5400 )

Cos 5400 is actually the first 360,000 calculation lah ....

so, any selling price below $360k doesnt have deduction of $5400 la. only selling price above $360k will have a deduction of $5400 lor. !!

[applefreak 1]

coz it was mentioned that 3% x purchase price - $5.4k

so if you take $360k multiply by 3% that's $10.8k

then minus $5.4k is $5.4k liao loh

just that first $180k is 1%, second $1.8k is 2% and the remaining is 3%

so easier way to calculate for private property (since most will exceed $360k) will be to use 3% of purchase price and deduct $5.4k from there

confirm correct one

if buying property less than $360k, just take purchase price less $180k then multiply by 2%. add to that $1.8k will be the stamp fees liao

same same like income tax calculations

[korea 0]

coz it was mentioned that 3% x purchase price - $5.4k

so if you take $360k multiply by 3% that's $10.8k

then minus $5.4k is $5.4k liao loh

just that first $180k is 1%, second $1.8k is 2% and the remaining is 3%

so easier way to calculate for private property (since most will exceed $360k) will be to use 3% of purchase price and deduct $5.4k from there

confirm correct one

if buying property less than $360k, just take purchase price less $180k then multiply by 2%. add to that $1.8k will be the stamp fees liao

same same like income tax calculations

ya la, pte property just use (purchase price x 3%) - $5400 = stamp fees. !!

this formula sure applies for pte property bcos where got pte property less than 360k?? !!

the amount of the stamp fees for pte property is very scary lor, unlike buying hdb flat.

[applefreak 1]

hdb flat also can use mah

bt merah 5-rm going at $400+k

kim tian $720k

if you interested, can get landed bungalow with 20+yrs left at less than $300k also

[korea 0]

hdb flat also can use mah

bt merah 5-rm going at $400+k

kim tian $720k !!

if you interested, can get landed bungalow with 20+yrs left at less than $300k also

oh, the kim tian hdb flat huh. btw, did the owner manage to sell his/her kim tian flat? $720k is really too high for hdb flat la. as well get EC. !!

[applefreak 1]

it was a done deal when the newspaper reported it

no valuation was done coz the buyer didn't take any loan - flushed with en-bloc cash

[l_club23 0]

oh, the kim tian hdb flat huh. btw, did the owner manage to sell his/her kim tian flat? $720k is really too high for hdb flat la. as well get EC.

All about location as usual... but personally, I wouldn't pay $720k for a flat...