Based on chats with friends, it seems that not many are aware of the ABSD remission available to SC married couple. Knowledge of the remission conditions can help you in your planning to upgrade to the next property without the hassle of selling first then renting then moving again to that next permanent home. The ABSD refund is a special concession given only to Singaporean married couples, to facilitate their changing of homes.
Based on IRAS website at the time of the post, the following scenarios might apply to you. Please check the remission conditions on IRAS and reach out to discuss your options. Plan your cashflows and happy property hunting!
Full ABSD remission may be applicable to a married couple who purchases a residential property jointly. The couple must include a Singapore Citizen (SC) spouse and the property must be purchased under both names of the couple only. In addition, both the spouses must not own any residential property.
ABSD remission may be applicable to a married couple who purchases a second residential property jointly, if the remission conditions are met. The couple must include a Singapore Citizen and the property must be purchased under both names of the couple only.
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