Asked by Anonymous
Hi Gurus, I need an advise.
I'm an SPR, and own a private property here in Singapore.
I've a son, who is now 22. He is Autistic and can't work.
I would like to invest in a private property for him, using my CPF and other savings.
Since I already have a property (under my and my wife's name), I would like to see if I can minimize the ABSD, by letting my Son have highest percentage of ownership of the new home, under the tenants-in-common agreement.
Please note, complete funding for the new property will come fully from me... My Son can't work and he can't earn.
I'm an SPR, and own a private property here in Singapore.
I've a son, who is now 22. He is Autistic and can't work.
I would like to invest in a private property for him, using my CPF and other savings.
Since I already have a property (under my and my wife's name), I would like to see if I can minimize the ABSD, by letting my Son have highest percentage of ownership of the new home, under the tenants-in-common agreement.
Please note, complete funding for the new property will come fully from me... My Son can't work and he can't earn.
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