Asked by Mr. Kenny Tan
Hi, I'm a co-owner of a HDB shophouse. The reason I was co-owner is during that time >10yrs ago, we did not want to take up a loan to incur high loan interests and thus made use of my CPF to pay a lump sum. Now that the unit is fully owned, me and my wife is thinking of buying a open market HDB as our combined income exceeds the HDB quota.
We like to know what tax do we need to consider? If this amount is large, how can we avoid this tax? By re-insteating the CPF monies + interest and we are able to buy the HDB without tax?
Thanks
We like to know what tax do we need to consider? If this amount is large, how can we avoid this tax? By re-insteating the CPF monies + interest and we are able to buy the HDB without tax?
Thanks
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