CPF
1. Rules on CPF Usage (Updated 10 May 2019)
2. Seller at/ above 55 years old. What will be the different if I sold my house at 55 years old or older?
3. Use of CPF for 2nd / subsequent properties – For Private Residential
Rules on CPF (updated 10 May 2019)
Seller at / above 55 years old
For seller who sold a property at age 55/ above, the only different is the CPF. There are 2 types of cash you will get from: –
Cash Proceed from sale of property & Refunded Cash from CPF.
Cash Proceed from sale of property & Refunded Cash from CPF.
Use of CPF for 2nd / subsequent properties
Scenario 1:
When your Special Account (SA) is less than half of minimum sum*:
CPF can be use = OA – [ (Minimum sum / 2) – SA ]
When your Special Account (SA) is less than half of minimum sum*:
CPF can be use = OA – [ (Minimum sum / 2) – SA ]
Scenario 2:
When your Special Account (SA) is more than half of minimum sum*:
You can use all the money is your Ordinary Account (OA) for your 2nd / subsequent properties.
* For buyer below 55 years old, minimum sum for Year 2018 is $171,000.
* For buyer 55 years old or above, minimum sum refer to the year when the buyer reach 55 years old.
