Home buyers under investigation “99-to-1” arrangement blaming real estate agents
23-05-2024, 06:38 AM
If cow don't drink water, who can lead them? I am sure it's mostly coached by agents who want to secure deals. However i am also sure are the greedy buyers who want to avoid ABSD by assuming the "small" risk.
23-05-2024, 07:31 AM
How about 98-2? 70-30? 51-49?
23-05-2024, 07:41 AM
23-05-2024, 07:43 AM
23-05-2024, 07:53 AM
23-05-2024, 07:55 AM
23-05-2024, 08:11 AM
Very concise explanation of what is 99-1.
Eg Sg Buyers are subject to 20% ABSD on second property. So $1 million house attracts absd of $200k.
But loophole co-own. 1st buyer no attract absd because 1st house. Then rope in 2nd buyer (existing 1 house) will attract absd.
They divide purchase to 99-1 ownership. Thus 2nd buyer pay 1% of $1 million ie $10k. Absd is $2k.
Eg Sg Buyers are subject to 20% ABSD on second property. So $1 million house attracts absd of $200k.
But loophole co-own. 1st buyer no attract absd because 1st house. Then rope in 2nd buyer (existing 1 house) will attract absd.
They divide purchase to 99-1 ownership. Thus 2nd buyer pay 1% of $1 million ie $10k. Absd is $2k.
Wherever you go, no matter what the weather, always bring your own sunshine
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23-05-2024, 08:16 AM
(23-05-2024, 07:59 AM)K88 shu shu Wrote: those ppl you mentioned also worked legitimately exploring the loophole of the law.
If the intent to explore loophole is to gain an unfair advantage, evade responsibilities, or harm others, then it's more likely to be seen as unethical. However, if the intent is simply to take advantage of a legal opportunity in a way that aligns with the law's purpose, then it may be more defensible. So are you ethical?
23-05-2024, 08:19 AM
This is not tax evasion which is criminal. This is considered tax avoidance. Not ethical and borderline semi legit.
Wherever you go, no matter what the weather, always bring your own sunshine
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23-05-2024, 09:01 AM
Nice titties
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Wherever you go, no matter what the weather, always bring your own sunshine
![Big Grin Big Grin](https://sgtalk.net/images/smilies/biggrin.png)
23-05-2024, 10:29 AM
If the loophole was created and approved shdnt the creator and approver take the blame?
23-05-2024, 10:39 AM
This is the culture here- anything goes wrong the top guns no blame it is the tail end gets all the blame. in this case the property agent!
23-05-2024, 02:12 PM
So, IRAS can now slowly dig the records for the past few years
And so? Make owners pay back base on 20% interest rates?
Cannot but they still talk so much like got power.
https://www.channelnewsasia.com/singapor...ty-3395916
And so? Make owners pay back base on 20% interest rates?
Cannot but they still talk so much like got power.
https://www.channelnewsasia.com/singapor...ty-3395916
Why do we need 5 Mayors and 80 PAP Ministers?
23-05-2024, 03:09 PM
Technically the buyers and real estate agents did nothing wrong. It was the authority that created this loophole. If the authority wants to claim back the absd, they better go through all the deals since the start of the absd and make all buyers pay up for the difference. Else it's not fair to anyone. If the authority does nothing to fault the previous offenders, then it simple means no offence committed and therefore anyone moving ahead can still use the same arrangement.
23-05-2024, 05:11 PM
PAP will not dare to touch rich people. Merely investigating and after that, case close.
https://www.todayonline.com/singapore/05...ax-2155926
https://www.todayonline.com/singapore/05...ax-2155926
23-05-2024, 06:46 PM
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