HDB income ceiling raised from $8,000 to $10,000 (15th Aug 2011)

 

 

Prime Minister Lee Hsien Loong has announced that the Income ceiling for HDB flats will be increased to $10,000, it was capped at $8,000 for the last 17-years.

 

Other Measures announced during the National Day Rally 2011:

- 25,000 BTO flats to be released

- Combined household income ceiling for HDB flats raised to $10,000 from $8,000

- Combined household income ceiling for Executive Condos raised to $12,000 from $10,000

- Additional 7,000 rental units

 

CPF Housing Grant for EC Buyers Monthly household income (Tiered System)

Income                                         Grant

Not more than $10,000               $30,000
More than $10,000 to $11,000    $20,000
More than $11,000 to $12,000    $10,000

 

Single Singapore Citizen (SSC) Scheme

Income ceiling is now $5,000 (previously $3,000)

CPF Housing Grant for single citizens is now $15,000 (previously $11,000)

 

Joint Singles Scheme (JSS) Scheme

Income ceiling is now $10,000 (previously $8,000)

CPF Housing Grant for single citizens is now $15,000 (previously $11,000)

 

Source:

http://www.hdb.gov.sg/fi10/fi10296p.nsf/PressReleases/3F7F3B2BDD45CE64482578ED0009B240?OpenDocument

http://www.straitstimes.com/The-Big-Story/The-Big-Story-3/Story/STIStory_702121.html

Safeguarding Conveyancing Money [From 1st AUG 2011]

 

New measures to further protect conveyancing money without unduly compromising the efficiency of the conveyancing practice (Click on link below)

http://app2.mlaw.gov.sg/Conveyancing/tabid/565/Default.aspx

 

Seller’s Stamp Duty

 

Seller’s Stamp Duty based on a $1,000,000 sale price

 

For the 3 time periods of purchase:

1] 20th Feb to 29th Aug 2010

2] 30th Aug 2010 to 13th Jan 2011

3] On or After 14th Jan 2011

 

[dated: 6th July 2011]

Average Sale Prices of Condos 2011 Q2

Districts that have Average Prices Above the Average of ALL Districts

District:

1, 2, 3, 4, 7, 8, 9, 10, 11

 

 

 

Districts that have Average Prices Below the Average of ALL Districts

District:

5, 12, 13, 14, 15, 16 ,17 ,18 ,19, 20, 21, 22, 23, 25, 26, 27, 28

 

HDB to look into the possibility of allowing cats in flats

 

 

The Government will look into the possibility of allowing cats in HDB flats, Minister of State (National Development and Manpower) Tan Chuan-Jin told MediaCorp yesterday.

Brigadier-General (NS) Tan was responding to MediaCorp’s queries following National Development Minister Khaw Boon Wan’s blog post yesterday on encouraging cats to be sterilised instead of being culled.

Adding that BG (NS) Tan will help him tackle the issue – given the former’s interest in this area – Mr Khaw said he would like the Agri-Food and Veterinary Authority of Singapore (AVA) to "seriously consider reviewing its culling programme for cats".

Mr Khaw noted that killing the cats was not the best solution. The right thing to do is for cat lovers to own the problem and to eliminate problems caused by irresponsible behaviour, he added.

When contacted last night, BG (NS) Tan said that allowing cats to be kept in HDB flats was one of the issues they were looking into.

MORE>>>

http://www.catwelfare.org/drupal/node/4546

CPF Minimum Sum Increase To $131,000 From 1 July 2011

From 1 July 2011, the CPF Minimum Sum (MS) will be revised to $131,000, up from $123,000.

CPF members who can set aside the MS fully in cash can apply to commence their monthly payouts of $1,170 when they reach their draw down age. The new MS will apply to CPF members who turn 55 from 1 July 2011 to 30 June 2012.

From 1 July 2011, the Medisave Minimum Sum (MMS) will also be raised to $36,000 from $34,500.

CPF members will be able to withdraw their Medisave savings in excess of the MMS at or after age 55. The maximum balance a member may have in his Medisave Account, known as the Medisave Contribution Ceiling (MCC), is fixed at $5,000 above MMS and this would be increased correspondingly to $41,000 from $39,500.

HDB Steps Up Enforcement Against Unauthorised Subletting

Case 1: Sublet new flat at Pinnacle@Duxton soon after purchase

 
Mr Y bought a new flat at the Pinnacle@Duxton in January 2010 with his sister. He subsequently registered to sublet two bedrooms for one year.However, during HDB’s night inspections conducted in May and June 2010, it found that neither Mr Y nor his sister was staying at the flat. Mr Y’s room was locked and only the subtenants’ shoes, clothing and their belongings were found in the flat. HDB’s investigations revealed that Mr Y had sublet the entire flat without HDB’s approval in the guise of subletting of rooms, shortly after the flat purchase. He did not have any intention to stay in the flat and had bought it purely for monetary gains.Hence, HDB initiated compulsory acquisition action against Mr Y.

 

Case 2: Bought resale flat to sublet while staying in a private property

 
Mr and Mrs P bought a 4-room resale flat at Rowell Road in 2009. They registered to sublet one bedroom from 1 Feb 2010. HDB’s investigations revealed that throughout the subletting period, Mr and Mrs P were staying in a private property. The flat was sublet to five subtenants at a monthly rental of $1,200. Mr P subsequently admitted to HDB that he had sublet the entire flat without seeking HDB’s prior approval. He and his wife had no intention of staying in it.As Mr P had abused the public housing system for monetary gains, HDB initiated compulsory acquisition action against him.

 

Case 3: Flouted rules immediately after resale flat purchase

 
Mr A bought a 3-room resale flat at Ang Mo Kio Avenue 10 in June 2009. He registered to sublet one bedroom. HDB’s investigations revealed that Mr A was not occupying the flat during the subletting period. One of the subtenants informed HDB that the entire flat was sublet to her family of four at a monthly rental of more than $1,300, and that Mr A was not residing in the flat. Mr A has blatantly abused our public housing system. He sublet the flat immediately after the flat purchase, and has no intention to occupy it. Hence, HDB initiated compulsory acquisition action against Mr A.

 

HDB Web:

http://www.hdb.gov.sg/fi10/fi10296p.nsf/PressReleases/C1B75943CA9B18FC48257870000843E3?OpenDocument

Foreigners buying landed property in Singapore

Foreigners who wish to own landed property in Singapore have to either:

 

1] Become Singapore citizens

2] Apply be Singapore Permanent Residents (“PRs”)
[need to obtain consent from the Minister of Law through the Land Dealings
Approval Unit (“LDAU”) under the Singapore Land Authority (“SLA”)]

The application usually takes 6 to 8 weeks, there is a higher chance of success if the applicant is deemed to be able to provide significant economic contribution to Singapore.

Rules the applicant have to abide by if the application is successful:

- Not to dispose of the landed property within 3 years from the date of purchase

- To hold the landed property for owner-occupation ONLY and not for any investment or income-generating purposes

(If there is any breach of the above, the applicant shall be liable on conviction to a fine or imprisonment or both)

 

 

Exception: Sentosa Cove

Difference between Land property on Sentosa Cove & on the Mainland for foreign buyers:

- No need to establish economic contribution by the applicant

HDB Renovations

 

Time Allowed for Renovations

 

New blocks – Within 4 months from the date of the permit.
Existing blocks – Within 1 month from the date of the permit.

Work shall be carried out – from 8am to 6pm ONLY

Noisy Work (cutting of tiles, demolition of walls and removing floor/wall finishes)

– from 9 am to 5pm (weekdays) [Saturdays, Sundays & Public Holidays NOT ALLOWED]

[Renovation contractors are not allowed to take more than three consecutive days to demolish walls and/or removal of wall/floor finishes]

 

Information Correct as at: 3rd April 2011

 

Refer to HDB Web for more details & specifications:

(from works requiring permits, floor finishes to fishtank sizes)

 

http://www.hdb.gov.sg/fi10/fi10324p.nsf/w/HomeRenoGuidelinesBuilding?OpenDocument

Changes to Employment Passes Wage Level [wef 1st July 2011]

 

 

Employment Pass Holders

Must have a fixed monthly salary of at least $2,500 ($2,800 come 1 July 2011) and possess
acceptable degrees, professional qualifications or specialist skills.

S Pass Holders (Mid-Skill Workers)

Assessed on multiple criteria including salary, education, qualification, skills, job type and work experience. S Pass holders must have a fixed monthly salary of at least $1,800 ($2,000 come 1 July 2011).