Back then, you may have thought that you were unlucky to get caught by the ABSD announced in December 2011, now you really have to thank the salesperson who urged you to buy then!
It’s really tough for property buyers and salespersons to keep abreast of policy changes relating to real estate. Just not too long ago, on 11 Jan 2013, the Government announced yet another revision - the ABSD rates. This revision will affect purchases or acquisitions of residential properties on or after 12 Jan 2013.
Here’s a snapshot of the changes.
* The consideration or value has to be rounded up to the nearest $100 before applying the rate.
† ABSD is to be rounded down to the nearest dollar.
Source: IRAS. You can download the full PDF report on the revised ABSD on IRAS’s website here.
Realtor and Real Estate Enthusiast