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My wife owns a studio apartment bought at $800,000 and value is now $1,200,000 while i own a 3 rm condo myself. if i put my name into the studio apartment as a joint owner at 40% only, how much absd do i have to pay?
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2 Answers

Ivan Ng
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Hi,

If you are SC, it will be 7% ABSD on the value of the share amount / market valuation transferred. Assuming market value is 1.2m, for a 40% stake it will be taxed 7% on the 480k. Is there a good reason to do so? Otherwise it seems like theres not much value add to your portfolio.

May I have more info and requirements about your plans so to make better recommendations? Thanks and look forward to value-add to your housing plans.

Warm Regards,
Ivan Ng ERA ASAP
(ASk Anything Property)
Proactive. Sincerity. Feedback.
SMU BBM (Finance), Magna Cum Laude

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Robbie Chen Chee Howe
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Hi,

ABSD is payable on the amount that you buy over.

Assuming property valuation of $1.2m, buying over 40% of it will mean $480k in transnational value, hence ABSD is payable on this $480k.

Should you need any further assistance in matters relating to property, please contact me at my mobile 9748 6305  . I will be happy to assess and share with you the possibilities for you in the current market.

Thank you.

Best regards,
Robbie Chen
 9748 6305 
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