[Seller Stamp Duty Episode] IRAS Feedback After Meeting My MP
Back in March, I approached my MP about appealing to IRAS for a waiver of SSD (Seller Stamp Duty). A letter was sent in the name of my Bishan-Toa Payoh MP. A week ago, I received the response from IRAS.
As expected, they would not agree to a waiver or reduction of SSD.
In the meantime, the Shunfu Ville collective sale has been given the final go-ahead by the Court of Appeal, meaning it's a done-deal, just waiting for paperwork so that payment can be made.
And so, I've started serious house-hunting around the same area along Upper Thomson, Marymount roads.
What I've come to find out in the last few weeks; it's seriously hard to find a unit of similar size (1645 sqft) for less than $1.8m (which is what we're getting from enbloc, excluding SSD).
The only place that I saw that fits above criteria is at Thomson View. However, that unit was old and requires heavy facelifting, and might end up costing more than $1.8m. Plus it is almost certainly going to be enbloc-ed soon (99-year lease, already 33-years-old. Previous attempts at enbloc). Anyway that unit is already sold.
I guess my only option is to look further out, to Bishan, Ang Mo Kio, etc.
Thanks IRAS, for nothing.
As expected, they would not agree to a waiver or reduction of SSD.
In the meantime, the Shunfu Ville collective sale has been given the final go-ahead by the Court of Appeal, meaning it's a done-deal, just waiting for paperwork so that payment can be made.
And so, I've started serious house-hunting around the same area along Upper Thomson, Marymount roads.
What I've come to find out in the last few weeks; it's seriously hard to find a unit of similar size (1645 sqft) for less than $1.8m (which is what we're getting from enbloc, excluding SSD).
The only place that I saw that fits above criteria is at Thomson View. However, that unit was old and requires heavy facelifting, and might end up costing more than $1.8m. Plus it is almost certainly going to be enbloc-ed soon (99-year lease, already 33-years-old. Previous attempts at enbloc). Anyway that unit is already sold.
I guess my only option is to look further out, to Bishan, Ang Mo Kio, etc.
Thanks IRAS, for nothing.
Hi Bro , are you still around, I have mistaken the date of the holding period 22 march instead of 22 Apr, i was taxed 4% , so at the end you sold it at an additional 4% lost ? Currently appealing , and i am unlucky to have a inexperience agent ,who don't even know whether am i liable for SSD . Confronted the agent, say he'/she wasnt aware. zzz
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