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PR application --> likelihood?

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PNGMK
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Re: PR application --> likelihood?

Postby PNGMK » Tue, 14 Jun 2016 12:04 pm

sundaymorningstaple wrote:PNGMK, I'm not sure on this, but I though in a case where different profiles are concerned, if one is a Singapore Citizen, the purchase of the flat is in the SC's name as the primary or lead purchaser and others listed subsequently. So if PR married to a SC then the SC rate would apply. If PR married to PR, PR rates apply and so on. Otherwise the Government would be penalizing the SC for marrying a PR, etc.


I agree but reading the IRAS website makes a pretty clear case that not even share matters...perhaps OP has the mortgage in joint names but the title is only in his missus name. The topic interests me because my clown neighbours want to do an en bloc and I may need to buy again (last time was before ABSD). As my wife is a US citizen under the FTA I thought perhaps I could buy in joint names and avoid ABSD but not by the rules on that website... I may have to buy in her name only but somehow convince the bank to let me service the mortgage....

Oh hang on. OP are you referring to a private condo or an executive condo?
Last edited by PNGMK on Tue, 14 Jun 2016 12:09 pm, edited 1 time in total.
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PNGMK
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Re: PR application --> likelihood?

Postby PNGMK » Tue, 14 Jun 2016 12:06 pm

sundaymorningstaple wrote:PNGMK, I'm not sure on this, but I though in a case where different profiles are concerned, if one is a Singapore Citizen, the purchase of the flat is in the SC's name as the primary or lead purchaser and others listed subsequently. So if PR married to a SC then the SC rate would apply. If PR married to PR, PR rates apply and so on. Otherwise the Government would be penalizing the SC for marrying a PR, etc.


Ahah. There's a remission policy for that exact case. https://www.iras.gov.sg/irashome/Other- ... ed-Couple/
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jamie9vardy
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Re: PR application --> likelihood?

Postby jamie9vardy » Tue, 14 Jun 2016 12:16 pm

Does this still apply?

"However, ABSD relief will be provided for joint purchases by married couples with at least one Singaporean spouse (i.e. a married couple with a Singaporean spouse and PR / foreigner spouse). Such purchases will not be subject to ABSD, as long as both spouses do not own any other property at the time of purchase. This relief facilitates their purchase of a matrimonial home, and puts them in the same position as a married couple with both Singaporean spouses who are purchasing their first residential property"

https://www.iras.gov.sg/IRASHome/upload ... ex%20I.pdf


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PNGMK
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Re: PR application --> likelihood?

Postby PNGMK » Tue, 14 Jun 2016 12:18 pm

Yes it does.
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Wd40
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Re: PR application --> likelihood?

Postby Wd40 » Tue, 14 Jun 2016 1:17 pm

So basically the condo buying will not give you any additional points for your PR application. There was an Indian on this thread who paid 15% ABSD and bought a condo, which exactly coincided with the peak of prices. So atleast he will get some sympathy from ICA, if not PR.

Lcct333
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Re: PR application --> likelihood?

Postby Lcct333 » Wed, 15 Jun 2016 1:17 pm

I don't think will be particularly beneficial to your cases, but yes this is a private condo, and we were able to avail of the relief on the basis that my wife is an SC. Both the property and loan are in our joint names.

Disappointing that the purchase won't help my PR application, but at least I didn't pay the ABSD during peak times!


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