99-1 Deals - What Are The Implications & Can Still Play Play?
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- เผยแพร่เมื่อ 25 ก.ย. 2024
- 99-1 Deal - What Are The Implications & Can Still Play Play?
I will be talking about the 99-1 deals and how IRAS has plans to claw back $60 million from such buyers. I will touch on the implication not only on those buyers but also the impact to the property market. We will also assess if we can still continue with such deals but in a proper manner. Lastly, I will end of with my views on the obsession with property in Singapore and how we should look at it from another angle.
Alan Wee
CEA Reg No. R024730A
wa.me/+6592973150
www.AlanWeeProperty.com
/ @alanweeproperty
FB: AlanWeeProperty
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Thank you for the contribution towards Nation Building !
Wise words ...always enjoy your video
I appreciate that
@@alanweeproperty Good advice at the end of video. Generally we just need to be content with what we have.
Hi Alan can i please check with u ,is there any ABSD different payable to Iras ?
When the child and father buy the property right from the start ? 99 % child and 1 % father.
Compare to
Child buy property under his name only. Then sell his 1 % share to father later?
The later can be seen as an avoidance of tax depending on its intent.
Any different in ABSD tax?
For newly web buyer 1%, to position for exit next buy without ABSD... Is also tax avoidance. G should manage that.
in a way, yes. but to avoid paying BSD though not ABSD. because there is no rule to say you cannot buy in a single person's name
if you penalise by saying avoiding BSD, it is right. but if you penalise by saying avoid ABSD, all single name buyers will be charged the same (including trust too) because they are all avoiding to pay ABSD. then you might as well say only married couples can buy property in singapore with both names in title
The loophole in this 99-1 (or other % deals) is that the 1% owner can actually borrow more than what he owns!
eg Father buys 1% of 1mil property > is equals to 10k. By right he can only borrow 75% of 10k which is 7.5k
But the bank illegally lends him like 500k to purchase the 10k ownership of the house
The real culprits IRAS needs to go after are the banks for illegally lending more than 75% LTV
you have a valid point.....unlese they own self check own self. else biz as norm....
Can iras clawback things happen for years, if so then probably we have some sweet deals to buy.
those deals likely will still proceed. if they sell now. they are hit by SSD + ABSD. Wow compo meal. so i doubt they will.
Greedy people lah... why staying in HDB is "downgrade". I rather drive a large Toyota Estima than driving a small 1 series Audi.
Enjoy your ride. It's a great car. But if EV will be even better!
Siao Liao Loh 😀
Prioritise , Only Good children , Good life , Stressfree Iivelihood are upmost Importance . Not Owning many Private , Luxury Cars and Feel High class . But Save here save there , stingy here n there just to Maintain this kind of Life style . Worth you say or not ???
Good children good life stress free = high income..(either slave for work or passive gain from stock or Pty)..do have? Don’t dream to be stress free..impossible
Yes, you are right
@@alanweeproperty veey knowledgeable on our property concern . You the right guy !
Bro, you also good in TCSS😂
Thanks 😅 next time join me for that too.
Alan - very atypical agent 😅
Very typical Singaporean too!
Next, check 98/2 transactions.