![](https://i.imgur.com/CLvY2jA.png")
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
