2nd property

[allcc6]

I’ve asked an agent to look for tenants for my commercial shop space. Wat’s the commission payable to the agent? Payable by landlord or tenant?

[peapot]

Isn’t it 1 month commission for 2 years lease and half month commission for 1 year lease? No?

[peapot]

dagong99:

peapot:

Aiya, actually I quite lazy to reply but seeing the questions here make me want to reply.


If your property is still under construction, the company you set up must show some business activity if not you will be fined!

If your property is already completed and renting out, your company setup can make use of the rental to show that this is the business activity of the company. But of course your tenant will have to pay GST.

That's why it's not that simple, unless one has already had an 'active' business running. Otherwise, many would have 'jumped' into the commerical property market long ago !

Not really, there is a way out. Oops...

[dagong99]

Hillview to become next property hotspot?


Is it worthwhile to pay 3% ABSD for investment ?

[micollh]

with the new rule… does it mean for those who have paid off the first property, still have to pay duty stamp fees of 70k? only the stamp fees only applies when first property is still outstanding,.

[hquek]

micollh:

with the new rule.. does it mean for those who have paid off the first property, still have to pay duty stamp fees of 70k? only the stamp fees only applies when first property is still outstanding,.

I never explore but I think the new additional buyer stampe duty will apply so long as it's a 2nd property.

If there is outstanding loan on first property, the amount that one can loan from bank will be reduced (think it's 50%). If no outstanding loan, should be able to loan a higher percentage.

[Coolkidsrock2]

hquek:

micollh:

with the new rule.. does it mean for those who have paid off the first property, still have to pay duty stamp fees of 70k? only the stamp fees only applies when first property is still outstanding,.

I never explore but I think the new additional buyer stampe duty will apply so long as it's a 2nd property.

If there is outstanding loan on first property, the amount that one can loan from bank will be reduced (think it's 50%). If no outstanding loan, should be able to loan a higher percentage.

You are correct.

[micollh]

my fren told me to look for condo that;s near TOP … if anyone drop their unit, i can get it cheaper… is there such thing ?

[hquek]

huh? i was told before by a friend to buy property during launch. then once TOP, sell and make money (that’s before the rule below came into effect).


BTW, there were some rules concerning subsales. If one disposes of a property within 3 years of purchase and makes money, the profits are liable for tax (on a descending scale based on number of years owned).

[pirate]

hquek:

If one disposes of a property within 3 years of purchase and makes money, the profits are liable for tax (on a descending scale based on number of years owned).

There is a seller stamp duty. And it applies whether you make a profit or not. It is on a sliding scale depending on how many years before resale.