Скачать или смотреть Can ABSD refund be extended to younger singles and SPR couples?

Budget 2024 brings good news for single Singaporeans aged 55 and above: they can now get a refund on the Additional Buyer's Stamp Duty (ABSD) for a second home, as long as they sell their first home within six months and the value of second property is less than the first.

This refund can be quite a bit, since ABSD is 20% of the home's price. ABSD for a $1.5m home is $300k for instance.

Singles make up a big chunk of Singapore's population, with 30.4% of people in their 30s being single in 2023.

Moving houses is important for lots of reasons, like changes in family size, financial situations, or wanting to live closer to work or school.

The current ABSD rules, which require paying ABSD upfront before getting a refund, can be tough on finances.

Leslie Yee suggests letting people wait to pay ABSD until they sell their first home and making ABSD rules easier for others, like singles under 55 and married PR couples, to help them move homes more smoothly.

What do you think of his suggestion, do you welcome that?

Hope you enjoyed this video and see you in the next one.

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