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Hi,

I am looking to buy an EC very soon with my wife. But my wife will be working overseas very soon for a period of 1 year. I was wondering how the household income is calculated in this situation. Is she required to be working in Singapore at the time of purchase? Will her overseas income be taken into account? Any information will be much appreciated. Thanks!
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2 Answers

Mike Lim
Replied
Afternoon Srini,

Oversea income can also be used to facilitate the loan, if all necessary documents are in place. But as Jimmy have said, you will be faced with income ceiling cap if you are buying new EC.

FYI
Mike Lim
 96929209 
ERA Read More
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YT Tan (陈永达)
Replied
Hi Srini,

As your wife's overseas work commitment is only a short term period of 1 year, IRAS will still consider your wife as a Tax Resident in Singapore as it's counted a temporary arrangement and I believe the income is still being paid by a company residing locally.

About new EC purchase, my fellow professionals had mentioned, you have to take note of the 12k income ceiling.

If you need any assistance, feel free to contact me.

Warmest Regards,
YT TAN
District Manager
R043025D
(M): 9111 5171 
(E): yt.lovelyhomes@gmail.com
(W1): www.yttan.com
(W2): yttan.stproperty.com.sg/
ECG Property Pte Ltd Read More
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