Hope this forum can address my concern po.
I would like to inquire if CGT is applicable for the transfer of name of the contract to sell of the property I bought a year ago. There is no contract of sale yet as I am still currently paying for the downpayment of my property. What are the applicable taxes for this kind of transfer since there is no ownership involved yet? My developer is insisting that CGT is applicable.
I will still be assuming the balance of the property, I just need to transfer the name in order to comply with one of the requirements in Singapore that buyers of public property should not have any properties inside Singapore or in overseas.