Date/Time: 23 June 2022, 2pm to 5pm

Course Fee

SEAA Member: $15.00

Non-Member: $30.00

CPD Category: Professional (2 CPD credits awarded)

Course Duration: 3.0 hours

 Course Synopsis
Topic 1: Impact of rising interest rates
Speaker: Sharon Lin, Withers KhattarWong LLP

• Impersonation scams
• Role of personal assistant
• Advertising requirements
• Insurance
• Case studies

Topic 2: Impact of Rising Interest Rates
Speaker: Alfred Chia, SingCapital Pte Ltd

• United States Inflation Data
• Singapore Key Statistics
• Total Debt Servicing Ratio Framework
• Standardize Lending Practices
• Case studies

Topic 3: ABSD (Trust) – How does this impact your client’s residential property purchase
Speaker: Rayney Wong, Director of Vision Law LLC

On 8 May 2022, the Government announced that purchase or transfer of residential property by way of a trust created by a person during his or her lifetime will attract additional buyer’s stamp duty of 35%, with effect from 9 May 2022. This is known as ABSD (Trust).

At the same time, the Government also announced ABSD (Trust) may be remitted and refunded (in full or in part) to the trustee in cases where the trust deed satisfies all requirements under the rules for remission.

The sudden imposition of ABSD (Trust) and the remission rules cast many doubts in the minds of buyers, real estate salespersons, and perhaps even lawyers.

Who is, and who is not, an “identifiable individual beneficiary”? What are the conditions for remission? How much will be remitted? What type of trust qualifies, or does not qualify, for remission? Can a trust be still created for the purchase of residential property?