1. Do I pay ABSD 1st and claim back later?
2. What is the senior age eligilble for the ABSD concession?
3. How does the ownership of the 1st and 2nd properties affect the eligibility for the ABSD concession?
4. Is eligibility for the ABSD concession applicable to individuals who own more than one property?
5. When is the designated timeframe for the disposal of the initial property, and what criteria define this period?
6. Can there be any alteration in the ownership of the second residential property during the sale?
7. Is the eligibility for the ABSD concession influenced by the value of the second property?

1) Do I pay ABSD 1st and claim back later?

(a) Answer is, Yes. ABSD has to be paid on the second residential property first;

2) What is the senior age eligilble for the ABSD concession?

(b) Each first residential property is solely owned by a single SC aged 55 and above, or shares ownership with immediate family members who are also single Singaporean citizens aged 55 and above;

3) How does the ownership of the 1st and 2nd properties affect the eligibility for the ABSD concession?

(c) The owners of the first residential property must also be the owners of the second residential property. Any additional individuals joining in the purchase of the second residential property with the owners of the first residential property must also be single Singaporean citizens aged 55 and above, and immediate family members;

4) Is eligibility for the ABSD concession applicable to individuals who own more than one property?

(d) Answer is No. To eligible, the buyer(s) does not possess more than one residential property each at the time of acquiring the second residential property and has not bought or obtained any additional residential property since the acquisition of the second residential property;

5) When is the designated timeframe for the disposal of the initial property, and what criteria define this period?

(e) The buyer(s) disposes the first residential property(s) (whether co-owned or separately owned) within six months:
(i) after the date of purchase of the second property for completed property, or
(ii) the issue date of the Temporary Occupation Permit (TOP) / Certificate of Statutory Completion (CSC), whichever is earlier, if the property was uncompleted at the point of purchase;

6) Can there be any alteration in the ownership of the second residential property during the sale?

(f) There must be no alteration in ownership of the second residential property during the sale of each first residential property;

7) Is the eligibility for the ABSD concession influenced by the value of the second property?

(g) The value of the second residential property is lower than the value of each of the first residential property(s) sold and

(h) The request for the refund of ABSD must be submitted within six months after the date of selling the first residential property(s).

  This article is researched from Inland Revenue Authority of Singapore, IRAS ABSD Concession for Single Singapore Citizen (SC) Seniors