April 27, 2023

Once in a while, 99.co picks a piece of property jargon to explain it. Today we look at the notorious ABSD, which is a stamp duty (tax) on your house. Additional Buyer’s Stamp Duty (ABSD) The most notorious of the cooling measures, the Additional Buyer’s Stamp Duty (ABSD) is a stamp duty paid on your…

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Cooling measures 2023 update: The Singapore government announced late Wednesday night (26 April) that the Additional Buyer’s Stamp Duty (ABSD) rates will be increased, effective from 27 April. Among the changes, the increase is the steepest for foreigners, doubling from 30% (from the December 2021 cooling measure) to 60%. Meanwhile, Singaporeans buying their second residential…

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In reply to <a href="https://www.99.co/singapore/insider/hdb-grants-for-couples/#comment-225161">Caleb</a>. Hi Caleb, Thank you for your query. You can base your grant calculations based on HDB's site here (https://www.hdb.gov.sg/residential/buying-a-flat/flat-and-grant-eligibility/couples-and-families/cpf-housing-grants-for-resale-flats-families). You're right, based on the total income of S$6.7k, the EHG will be S$25k. And the PHG will be S$20k given that it's within 4km of your parents' house. However, note that you won't be able to get the maximum S$80k for the Family Grant, as it is based on resident status and flat type. As a SC/PR household, the Family Grant you can get is S$70k if you're buying 2-room to 4-room flat, or S$40k if you're buying 5-room or bigger. It is best to check with HDB on the actual grant amount. Hope this helps and good luck!

In reply to <a href="https://www.99.co/singapore/insider/dual-key-condo-units-property/#comment-225363">E.K.</a>. Hi E.K., According to URA, the occupancy cap of six applies to all residing within the home, especially when owners rent out their private residences to unrelated persons who are not from the same family unit. In your query, since your main unit is rented out to a family with children and a helper, that's one family unit, while the studio is rented out to a couple who is unrelated to the family in the main unit. As the main unit and studio are considered one single property, the occupancy cap of six applies to both. Hope this answers your question. https://www.ura.gov.sg/Corporate/Media-Room/Forum-Replies/forum17-06 https://www.99.co/singapore/insider/dual-key-condo-units-property/