HDB and Condo

[micollh]

i was told if we bought condo and stay in condo , rent our HDB, we need to back-pay all the discounted (HDB) property tax (e.g for the past 5/6 years depending on how long have u bought the HDB flat)… is it true ? then if we rent our the HDB flat, we need to declare right? will HDB take commision or charge how many percent from the rental ? anyone can advise?

[Fat Mama]

Hi Micollh,


I had rented out my HDB for many years. Regarding the pty tax, for own stay pty tax at 4% discounted rated and if rented out pty tax 10% regardless of hdb or condo.

U must get hbd approval if u want to rent out ur flat. Application abt $20/yr. They dont charge commission or percentage of ur rental.

Hope that ans ur qns.

[micollh]

Fat Mama:

Hi Micollh,


I had rented out my HDB for many years. Regarding the pty tax, for own stay pty tax at 4% discounted rated and if rented out pty tax 10% regardless of hdb or condo.

U must get hbd approval if u want to rent out ur flat. Application abt $20/yr. They dont charge commission or percentage of ur rental.

Hope that ans ur qns.

Thanks FatMama.. but how abt the back pay part.. meaning, i've bought my HDB for 5 years.. so say next year i stay into the condo.. rent out the HDB, do i need to back pay the past 5 years property tax.. the remaining 6% x 5 kinda thing

[Fat Mama]

I am quite sure no need to pay back. Unless they change the rule.


U can call hdb n ask.

[MrsSeah]

micollh:

i was told if we bought condo and stay in condo , rent our HDB, we need to back-pay all the discounted (HDB) property tax (e.g for the past 5/6 years depending on how long have u bought the HDB flat).. is it true ? then if we rent our the HDB flat, we need to declare right? will HDB take commision or charge how many percent from the rental ? anyone can advise?

I doubt you need to pay back 5/6 yrs property tax. I think you only need to pay the full property tax with effect from the day you rent out the flat instead of subsidised property tax.

[LOLMum]

oh, but i thought if you buy condo, you need to sell your hdb flat.

[peapot]

LOLMum, under the new ruling what you say applies. But if you bought the condo and HDB before the ruling then you don’t any problem.

[LOLMum]

thanks peapot.

[kiasubox]

No need to pay back the property tax that’s for sure.

Even under the new ruling, if you stay in your HDB more than 5 years, you can buy a condo and keep your HDB. But if you own a private property and want to buy HDB, then you got to sell off all your private property, even if the property is overseas.

[micollh]

thanks kiasubox. only when we start to stay in condo then the property for the HDB will be full. got it. thanks