Asked by Anonymous
My partner and I are looking into getting our HFE letter to apply for BTO or ECs but we have a question regarding the income eligibility portion.
My partner and I (both Singaporeans) are currently working overseas in Australia, I've just started working 6 months ago while my partner has been working for a couple of years. When looking into the income guideline of the HFE letter application, it mentioned that it considers the Gross income of an individual.
This complicates the process for us as our income is taxed a considerable amount (40-45% range) in Australia and our After-Tax income would not be reflected on the assessment when applying for the HFE letter and so this significantly inflates our income. I'm concerned HDB would review our case and decide that we're not eligible for either BTOs/ECs because of our inflated gross income without knowing how much we actually earn.
My questions are:
- What's the recommended action to take from here, reach out to HDB to explain our circumstance or do we just apply for the HFE letter?
-If we were to just apply for the HFE letter, is there a section within the income eligibility portion which allows us to explain our circumstance (working overseas, no CPF, significantly higher tax rate)?
-Is there some way where we can indicate our After Tax income rather than our gross income in the application?
My partner and I (both Singaporeans) are currently working overseas in Australia, I've just started working 6 months ago while my partner has been working for a couple of years. When looking into the income guideline of the HFE letter application, it mentioned that it considers the Gross income of an individual.
This complicates the process for us as our income is taxed a considerable amount (40-45% range) in Australia and our After-Tax income would not be reflected on the assessment when applying for the HFE letter and so this significantly inflates our income. I'm concerned HDB would review our case and decide that we're not eligible for either BTOs/ECs because of our inflated gross income without knowing how much we actually earn.
My questions are:
- What's the recommended action to take from here, reach out to HDB to explain our circumstance or do we just apply for the HFE letter?
-If we were to just apply for the HFE letter, is there a section within the income eligibility portion which allows us to explain our circumstance (working overseas, no CPF, significantly higher tax rate)?
-Is there some way where we can indicate our After Tax income rather than our gross income in the application?
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