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Old 19-06-2017, 04:47 PM   #1
Arosub
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Default HDB Resale Levy

Hi bros,

I will like to ask those with experience who had appealed to waive the resale levy whether it is applying for a second flat or EC.

1) Was it successful?
2) If it is partial waiver , how much percentage was waived?
3) And anther question is , assuming one had a HDB and applied for a EC , what will happen if the EC TOP and HDB is still not sold?

Thanks in advance!
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Old 22-06-2017, 12:04 PM   #2
si|ver
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1. Not successful, even after getting MP to write letter
2. N.A
3. http://www.hdb.gov.sg/cs/infoweb/res...ermode=preview

Alot of info on HDB website
If not sure, call HDB direct, they will be able to give u a definite answer.

For the wavier of levy... unless you really have strong valid reasons, they will not waive it, not even partial.

Their so-called wavier is to put the levy into the price of the new house, so you still need to pay for it using CPF, not forgetting the levy is subjected to charged interest as well since u will be using CPF.

Hope this helps.
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Old 22-06-2017, 12:08 PM   #3
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to waive the levy is like asking income tax department to waive my income tax!

ask LTA to waive car road tax....

you think possible?

To get a instalment payment sccheme then is possible.
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Old 22-06-2017, 12:09 PM   #4
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HDB shdn't waive. Grants and rebates are privilege for first timer and should be kept that way.

My dad's flat was sold under my name and I lost the first timer privilege (while my sibling enjoyed it, $40k grant). I don't qualify for new BTO unless I pay the levy, which I didn't. I incur the lost instead of shared with my sibling. But well, I don't hold onto that against my sibling (not inherit oxley leh) and have bought resale HDB (higher price than new BTO but well, accept it lo).
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Old 22-06-2017, 12:15 PM   #5
si|ver
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Quote:
Originally Posted by nutx View Post
to waive the levy is like asking income tax department to waive my income tax!

ask LTA to waive car road tax....

you think possible?

To get a instalment payment sccheme then is possible.
Wahahahah....
Actually when i go find MP, my frd who is in housing credit de... tell me mai waste time... he seen plenty of cases...
cases much worse than me oso nvr waive lor..

But i just try lah.. no harm mah..
then kena rejected...

Quote:
Originally Posted by globalcookie View Post
HDB shdn't waive. Grants and rebates are privilege for first timer and should be kept that way.

My dad's flat was sold under my name and I lost the first timer privilege (while my sibling enjoyed it, $40k grant). I don't qualify for new BTO unless I pay the levy, which I didn't. I incur the lost instead of shared with my sibling. But well, I don't hold onto that against my sibling (not inherit oxley leh) and have bought resale HDB (higher price than new BTO but well, accept it lo).
I think really depends on scenarios...

Those really need help de..
Eg. sale of flat is at a loss, total 0 cash proceeds
then got financial difficulties and so...

Threadstarter is doing an upgrade..
from a HDB to an EC...
u ownself think lor... will HDB waive?

Last edited by si|ver; 22-06-2017 at 12:24 PM.
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Old 22-06-2017, 02:04 PM   #6
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Resale levy is crap

They just want to make sure when u make money, govt make money

Luckily I buy sell my HDB long ago when no such thing as resale levy
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Old 22-06-2017, 02:27 PM   #7
globalcookie
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Quote:
Originally Posted by si|ver View Post
I think really depends on scenarios...

Those really need help de..
Eg. sale of flat is at a loss, total 0 cash proceeds
then got financial difficulties and so...
In genuine and extreme case, I would agree case by case.

But there are also those who gotten their feet into such scenarios on their own accord thus no empathy for such ppl.

Quote:
Originally Posted by jwhtan View Post
Resale levy is crap

They just want to make sure when u make money, govt make money

Luckily I buy sell my HDB long ago when no such thing as resale levy
You said ur time no resale levy ma... i don't know when is this 'your time'. If I don't recall wrongly, my dad bought that flat in mid 80s, had to pay levy i think (for the previous flat he bought in the 70s).

Different school of thoughts tho, on paying back.

Buying new BTO usually cost about 20% (guess assumption) lower than resale in the same area. If gov give rebate (first timer), than HDB is only clawing back the rebate.

If ppl don't want to, they have options not taking the rebate, or not paying during sales but only pay if they come to a situation they want another BTO.
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Old 22-06-2017, 02:42 PM   #8
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Why call it a grant when u need to repay them plus interest??

Should call loan.

if repay without interest i can accept. They just want to earn, everything also must milk.
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Old 22-06-2017, 04:15 PM   #9
jwhtan
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Quote:
Originally Posted by globalcookie View Post

You said ur time no resale levy ma... i don't know when is this 'your time'. If I don't recall wrongly, my dad bought that flat in mid 80s, had to pay levy i think (for the previous flat he bought in the 70s).
Confirm you recall wrongly.

Resale levy was introduced in 1997.
At that time of introduction, the excuse they gave was to spread out the subsidies for second timers.
That means, a resale levy is applicable when you sell your first house and apply for second house with HDB.

At that point in time, the resale levy was 25% of the selling price for a 5 room flat.
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Old 22-06-2017, 04:24 PM   #10
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What Grant ? What Subsidy ?
How much does it cost to build a flat ?
Do you even think a flat cost this much to build and then govt subsidise you or give you a grant ?

Look, housing is a need.

I build a house at $50,000 and sell it at a price of $500,000
and then I give you a subsidy of $50,000
You pay $450,000 for the unit that my cost is $50,000
That is a subsidy ?

This is call " I earn less " but still earn.
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