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Singapore Property Scene Discussion

therock

By therock,
in Property Buzz

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Ginyu

Ginyu

5th Gear
(edited)
On 5/8/2024 at 4:47 PM, Throttle2 said:

will we see some people go bankrupt becos of this? firesale?  

hhhmmmm....

High chance, where to get the money to pay 4x🤣

 

 

Edited by Ginyu
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Dafansu

Dafansu

Turbocharged
On 5/8/2024 at 7:27 PM, Windwaver said:

Kena investigated liao loh :psychotic:

1 unit never get permit to hack wall.

was expecting this when I read the news, the estate not that old, don't think can find a jumbo. Even hacking of wall I believe HDB don't allow. Those are the earlier HDB premium flats.

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Throttle2

Throttle2

Supersonic
On 5/9/2024 at 10:12 AM, Ginyu said:

High chance, where to get the money to pay 4x🤣

 

 

Oh like that song liao

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Wt_know

Wt_know

Supersonic
(edited)

i read the whole damn saga again .... 

https://www.channelnewsasia.com/singapore/99-1-private-property-absd-iras-tax-avoidance-evasion-stamp-duty-3395916

actually hor, i cannot understand why ah gong ALLOW this 99-1 ownership in the first place?

if a property is buy and sell with 99-1 , the owner who owns 1% intention is CLEARLY tax evasion right?

what are the TRUE intention of owning 1%? buy for children? then pay ABSD la ... fair and square right ... why 99-1?

who is the CHAMPION comes up with this 99-1 scheme in the first place? [sly] 

i assume Person B who is the "real payer" ie: pay majority but only legally own 1% ... definitely is family member right?

Person B is the "guru" in Youtube la ... claiming have 5 properties investing portfolio mai play play ... but actually only own 1% of each property

use wife name, brother name, father/mother name, pet's name ... [sly] 

2024-05-09_154327.jpg

Edited by Wt_know
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Ginyu

Ginyu

5th Gear
(edited)
On 5/9/2024 at 3:42 PM, Wt_know said:

i read the whole damn saga again .... 

https://www.channelnewsasia.com/singapore/99-1-private-property-absd-iras-tax-avoidance-evasion-stamp-duty-3395916

actually hor, i cannot understand why ah gong ALLOW this 99-1 ownership in the first place?

if a property is buy and sell with 99-1 , the owner who owns 1% intention is CLEARLY tax evasion right?

what are the TRUE intention of owning 1%? buy for children? then pay ABSD la ... fair and square right ... why 99-1?

who is the CHAMPION comes up with this 99-1 scheme in the first place? [sly] 

i assume Person B who is the "real payer" ie: pay majority but only legally own 1% ... definitely is family member right?

Person B is the "guru" in Youtube la ... claiming have 5 properties investing portfolio mai play play ... but actually only own 1% of each property

use wife name, brother name, father/mother name, pet's name ... [sly] 

2024-05-09_154327.jpg

How about those sell one hdb and buy two condos. Based on single income alone can borrow so much  to buy each a condo meh? 🤣 if they are already high income earners then why are they able to stay hdb in the first place, got ceiling cap mah

Edited by Ginyu
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Wt_know

Wt_know

Supersonic
(edited)
On 5/9/2024 at 5:34 PM, Ginyu said:

if they are already high income earners then why are they able to stay hdb in the first place, got ceiling cap mah

they bought hdb when their income is lower la … within ceiling

nowadays, work 5 years smelly smelly promoted to Asst Dir or VP level liao ….

age 35-40 … no $15K-$20K no talk la 

:grin:

Edited by Wt_know
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Volvobrick

Volvobrick

Supersonic
On 5/9/2024 at 3:42 PM, Wt_know said:

i read the whole damn saga again .... 

https://www.channelnewsasia.com/singapore/99-1-private-property-absd-iras-tax-avoidance-evasion-stamp-duty-3395916

actually hor, i cannot understand why ah gong ALLOW this 99-1 ownership in the first place?

if a property is buy and sell with 99-1 , the owner who owns 1% intention is CLEARLY tax evasion right?

what are the TRUE intention of owning 1%? buy for children? then pay ABSD la ... fair and square right ... why 99-1?

who is the CHAMPION comes up with this 99-1 scheme in the first place? [sly] 

i assume Person B who is the "real payer" ie: pay majority but only legally own 1% ... definitely is family member right?

Person B is the "guru" in Youtube la ... claiming have 5 properties investing portfolio mai play play ... but actually only own 1% of each property

use wife name, brother name, father/mother name, pet's name ... [sly] 

2024-05-09_154327.jpg

99-1 scheme is to secure bank loan. The 99 shareholder probably cannot secure the loan by himself, thus needing the 1% owner to pass the bank's credit review. This group of buyers sell the 1% soon after signing the Sales and Purchase with with original sellers. 

If both party high income, then no need for the 99-1 arrangement. So the 60m is likely going to come from middle income buyers, they sure are going to be stressed. 

Interestingly (read from an article) if a first time buyer couple have the same arrangements, with the intention to transfer the 1% in future before one of them buys the next property, it may still be a grey area. Not 100% can pass IRAS. 

Lesson is no high income don't play properties!

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13177

13177

Hypersonic
On 5/9/2024 at 5:34 PM, Ginyu said:

How about those sell one hdb and buy two condos. Based on single income alone can borrow so much  to buy each a condo meh? 🤣 if they are already high income earners then why are they able to stay hdb in the first place, got ceiling cap mah

Buy hdb resale no ceiling cap right.

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13177

13177

Hypersonic
On 5/9/2024 at 6:09 PM, Wt_know said:

they bought hdb when their income is lower la … within ceiling

nowadays, work 5 years smelly smelly promoted to Asst Dir or VP level liao ….

age 35-40 … no $15K-$20K no talk la 

:grin:

Salary so easy to earn now for youngsters ar?! 😅 Older generation for some maybe work until retirement age of 65, if good, their salary when retired only around 15k le. Now only mid 30s already can earn 15k to 20k?! 

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Hubwee

Hubwee

Supercharged
On 5/9/2024 at 8:57 PM, 13177 said:

Salary so easy to earn now for youngsters ar?! 😅 Older generation for some maybe work until retirement age of 65, if good, their salary when retired only around 15k le. Now only mid 30s already can earn 15k to 20k?! 

You never read the news about the KAP robbery case ? 29 yr old lady , kena robbed of 2.6 m in crypto , 300 plus k in cash ….

31 yr old kena robbed watch worth 300 plus k and driving Ferrari …

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Mkl22

Mkl22

Supersonic
On 5/8/2024 at 5:31 PM, therock said:

Misleading is no good but unrealistic?

I can ask for 5 million.. that’s my choice.. it’s my fault if I don’t get that price but I don’t see why the government should be involved 

caveat emptor 

It’s HDB in the end. The optics is not good. 

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13177

13177

Hypersonic
On 5/9/2024 at 9:32 PM, Hubwee said:

You never read the news about the KAP robbery case ? 29 yr old lady , kena robbed of 2.6 m in crypto , 300 plus k in cash ….

31 yr old kena robbed watch worth 300 plus k and driving Ferrari …

No read le. 😅

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ccc888

ccc888

4th Gear
On 5/9/2024 at 8:57 PM, 13177 said:

Salary so easy to earn now for youngsters ar?! 😅 Older generation for some maybe work until retirement age of 65, if good, their salary when retired only around 15k le. Now only mid 30s already can earn 15k to 20k?! 

Top 20% performers lor.

else 50% sinkies stay in condos liao and not 20%

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Throttle2

Throttle2

Supersonic
On 5/9/2024 at 8:57 PM, 13177 said:

Salary so easy to earn now for youngsters ar?! 😅 Older generation for some maybe work until retirement age of 65, if good, their salary when retired only around 15k le. Now only mid 30s already can earn 15k to 20k?! 

Very easy.  Prance in front of tripod a bit, can huat already.   So easy.  I see so many eat in nice restaurant, stay top hotel, take private jet, wear branded.     Must be very easy lor.   Social media is 100% truth right?
but here i sweat and toil for a couple of thousands a month……  hai…..

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Ginyu

Ginyu

5th Gear
On 5/10/2024 at 10:06 AM, ccc888 said:

Top 20% performers lor.

else 50% sinkies stay in condos liao and not 20%

Not performing also got many still stay in condo lei, everyday struggle with bread and water to pay off mortgage 🤣

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Throttle2

Throttle2

Supersonic
On 5/10/2024 at 10:44 AM, Ginyu said:

Not performing also got many still stay in condo lei, everyday struggle with bread and water to pay off mortgage 🤣

Heeheehee, yalor yalor.   Wonder what happens if they lose their jobs?   Should be exciting .

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