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Why ‘99-to-1’ property deals to avoid ABSD have zero chance of success
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Anyone caught using a sham scheme to avoid paying ABSD for second property will have to pay an extra 50 per cent surcharge as penalty.
ST PHOTO: LIM YAOHUI
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If someone advises you to buy a second property by using a loophole to avoid paying the stamp duty, do yourself a favour and just walk away.
As tempting as it is to dodge a levy, exploiting a loophole can be deemed as tax avoidance, which comes with stiff penalties.
