Iras probes home buyers who used ‘99-to-1’ loophole to avoid paying ABSD

[The_King]

SINGAPORE - The taxman has launched an audit of private property purchases involving a “99-to-1” sales contract that could be used to dodge paying the additional buyer’s stamp duty (ABSD).

The Straits Times has learnt that letters are being sent to some first-time buyers of private real estate asking them to explain why they sold just 1 per cent of the same property to a relative barely a week after exercising the purchase option.

 

 

to read more pay money. this is SG nothing is free

https://www.straitstimes.com/business/invest/iras-probes-home-buyers-who-used-99-to-1-loophole-to-avoid-paying-absd