ABSD Remission
- ABSD Remission? Really? -
So the question is "Is there a way not to pay ABSD?"
What if you don’t need to pay ABSD even as a foreigner or PR? Is it possible or even legal?
Did you know if you (as a foreigner or PR) are married to Singaporean citizen and you don’t own any residential property currently, you don't have to pay ABSD.
As a married couple switching homes, you can also get your ABSD refunded. It can be done provided you meet the conditions.
For example, the first residential property that you paid ABSD for must be sold within 6 months after the purchase date of the second property, if completed, or after the issue date of the TOP or CSC (whichever is earlier).
See full terms and conditions of ABSD remission on IRAS website.
Did you know if you (as a foreigner or PR) are married to Singaporean citizen and you don’t own any residential property currently, you don't have to pay ABSD.
As a married couple switching homes, you can also get your ABSD refunded. It can be done provided you meet the conditions.
For example, the first residential property that you paid ABSD for must be sold within 6 months after the purchase date of the second property, if completed, or after the issue date of the TOP or CSC (whichever is earlier).
See full terms and conditions of ABSD remission on IRAS website.
What are the conditions?
The main key determination is that it is meant for married couples with at least one Singapore Citizen spouse.
A. Joint Purchase by a Married Couple who does not own any Residential Property
Full ABSD remission may be applicable to a married couple who purchase 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. Scenarios are found in ABSD Rates and Remissions for Married Couples
B. Joint Purchase of Second Residential Property by a Married Couple
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. The conditions are as follows:
1.The married couple did not own interest in more than one residential property at the date of purchase of the second
residential property.
2. ABSD has been paid on the second residential property.
3. The first residential property (co-owned or separately owned) is sold within 6 months after
sale of the first residential property.
5. The married couple has not purchased or acquired any other residential property since the purchase of the second
residential property.
6. The application for refund of ABSD is made within 6 months after the date of sale2 of the first residential property.
For the eligibility criteria, please see ABSD Rates and Remission for Married Couples
Married couples are encouraged to start marketing their first property early at realistic prices to ensure they can meet the
six-month sale timeline for the ABSD refund. As an extension of the six-month timeline will not be acceded to, married
couples can consider to secure a buyer for the sale of their first property before purchasing their next to avoid incurring
ABSD.
A. Joint Purchase by a Married Couple who does not own any Residential Property
Full ABSD remission may be applicable to a married couple who purchase 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. Scenarios are found in ABSD Rates and Remissions for Married Couples
B. Joint Purchase of Second Residential Property by a Married Couple
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. The conditions are as follows:
1.The married couple did not own interest in more than one residential property at the date of purchase of the second
residential property.
2. ABSD has been paid on the second residential property.
3. The first residential property (co-owned or separately owned) is sold within 6 months after
- the *date of purchase of the second property for completed property or
- the issue date of the Temporary Occupation Permit (TOP) / Certificate of Statutory Completion (CSC), whichever is earlier, if the property was uncompleted at the time of purchase
sale of the first residential property.
5. The married couple has not purchased or acquired any other residential property since the purchase of the second
residential property.
6. The application for refund of ABSD is made within 6 months after the date of sale2 of the first residential property.
For the eligibility criteria, please see ABSD Rates and Remission for Married Couples
Married couples are encouraged to start marketing their first property early at realistic prices to ensure they can meet the
six-month sale timeline for the ABSD refund. As an extension of the six-month timeline will not be acceded to, married
couples can consider to secure a buyer for the sale of their first property before purchasing their next to avoid incurring
ABSD.
*Date of Purchase / Acquisition refers to:
a) Date of Acceptance of the Option to Purchase or
b) Date of Sale and Purchase Agreement or
c) Date of Transfer where (a) and (b) are not available nor applicable
a) Date of Acceptance of the Option to Purchase or
b) Date of Sale and Purchase Agreement or
c) Date of Transfer where (a) and (b) are not available nor applicable