Galantspeedz Turbocharged July 3, 2012 Share July 3, 2012 Do not attempt to illegally sublet, if not staying in Singapore, don't lock one room. If there are complaints, HDB will send officers to monitor and stake out the place. Nowadays penalty is not light. Just report to HDB about overseas posting or business and delay the MOP. If not, take the risk and risk getting the HDB bought back at way below market price, lose your interest for your CPF, lose your probable profits and potentially go into debt when it happens. Oh yeah, cannot buy another HDB, rental from HDB also problematic.... If all these are worth it, then illegal sublet lor.... his cpf only 40k not 400k or 4m ↡ Advertisement Link to post Share on other sites More sharing options...
Soya Supersonic July 3, 2012 Share July 3, 2012 errr....what's so 'outcast' abt ur fren? got new flat, plan to make some $$ from it. on a side note, if he onli has 50k and wants to do biz, good luck. dun tink it's always easier overseas coz the $$ can simply vanish quickly and he wun hv ah gong to run to and cry hor. Link to post Share on other sites More sharing options...
Unltd 5th Gear July 3, 2012 Share July 3, 2012 his cpf only 40k not 400k or 4m Eh, 40k CPF is more than mine ok! Link to post Share on other sites More sharing options...
Galantspeedz Turbocharged July 3, 2012 Share July 3, 2012 Eh, 40k CPF is more than mine ok! more than mine also.... but does not mean is alot mah Link to post Share on other sites More sharing options...
Kurty Supercharged July 3, 2012 Author Share July 3, 2012 errr....what's so 'outcast' abt ur fren? got new flat, plan to make some $$ from it. on a side note, if he onli has 50k and wants to do biz, good luck. dun tink it's always easier overseas coz the $$ can simply vanish quickly and he wun hv ah gong to run to and cry hor. well, he feels that he can't survive in sg nor keeping up to the pace. the flat, it acts as a home and investment for his future. yeah, 50k cash is nothing.. i understand his woes. Link to post Share on other sites More sharing options...
TVT Supercharged July 3, 2012 Share July 3, 2012 well, he feels that he can't survive in sg nor keeping up to the pace. I am curious why your friend say he can't survive in SG? How much is (in his view) enough to survive in SG leh? Link to post Share on other sites More sharing options...
Kurty Supercharged July 3, 2012 Author Share July 3, 2012 I am curious why your friend say he can't survive in SG? How much is (in his view) enough to survive in SG leh? well, he been sharing stories about work. first time, i seen he has a goal in life which is doing an eatery. maybe he has a greener or better luck in doing such? Link to post Share on other sites More sharing options...
LoverofCar 6th Gear July 3, 2012 Share July 3, 2012 well, he feels that he can't survive in sg nor keeping up to the pace. the flat, it acts as a home and investment for his future. yeah, 50k cash is nothing.. i understand his woes. frankly...$50k better don't do business....it may not even be enough to roll whenever there is a crisis in the business... Link to post Share on other sites More sharing options...
Xanavi 4th Gear July 3, 2012 Share July 3, 2012 frankly...$50k better don't do business....it may not even be enough to roll whenever there is a crisis in the business... Don't be so pessimistic la. Who knows his friend maybe going to emerging countries where 50k more than sufficient? Btw, which country he is going to? Maybe can get better advise? With proper planning, I feel it is still doable. Just don't spend more than you earn. Live as simple as possible. Link to post Share on other sites More sharing options...
Kurty Supercharged July 3, 2012 Author Share July 3, 2012 Don't be so pessimistic la. Who knows his friend maybe going to emerging countries where 50k more than sufficient? Btw, which country he is going to? Maybe can get better advise? With proper planning, I feel it is still doable. Just don't spend more than you earn. Live as simple as possible. he's going malaysia to set up a desert shop. from what he was provided (licensing, rental, renovation, second hand machine), it is still doable. Link to post Share on other sites More sharing options...
Xanavi 4th Gear July 3, 2012 Share July 3, 2012 (edited) By the way, for legitimate reasons like going overseas for work, HDB most likely will allow subletting. But make sure you declare and get some one he trust (maybe you) to check up on tenants. But remember to declare to Hdb. You can act as his official assignee. Pay some taxes for rental yield is a small price to pay. Do it illegally, risk is tenants may sublet to illegal immigrants knowingly or unknowingly, and your friend risk losing a flat, and if you are the OA, you are answerable too. Edited July 3, 2012 by Xanavi Link to post Share on other sites More sharing options...
Kurty Supercharged July 3, 2012 Author Share July 3, 2012 By the way, for legitimate reasons like going overseas for work, HDB most likely will allow subletting. But make sure you declare and get some one he trust (maybe you) to check up on tenants. But remember to declare to Hdb. You can act as his official assignee. Pay some taxes for rental yield is a small price to pay. Do it illegally, risk is tenants may sublet to illegal immigrants knowingly or unknowingly, and your friend risk losing a flat, and if you are the OA, you are answerable too. thanks bro, will share with him on the valuable comments in here. didn't know rental from HDB also need to pay tax Link to post Share on other sites More sharing options...
Xanavi 4th Gear July 3, 2012 Share July 3, 2012 thanks bro, will share with him on the valuable comments in here. didn't know rental from HDB also need to pay tax Yap, it's still income mah. All rentals yields are subjected to taxes. Link to post Share on other sites More sharing options...
Jamstart 1st Gear July 3, 2012 Share July 3, 2012 Yap, it's still income mah. All rentals yields are subjected to taxes. Yes, agree. You can sublet legally, provided that you are oversea and not in sg often. Just need to inform HDB, which already did, and declare your income tax. You wanna earn, governmenet also wanna earn from you. It is a 2 way traffic.. Link to post Share on other sites More sharing options...
Galantspeedz Turbocharged July 3, 2012 Share July 3, 2012 he's going malaysia to set up a desert shop. from what he was provided (licensing, rental, renovation, second hand machine), it is still doable. wah.... the way you describe.... i would have thought you are the one opening the business.... then we can go patronise you Link to post Share on other sites More sharing options...
Westkid 2nd Gear July 3, 2012 Share July 3, 2012 well, learning. it's more like a desert shop Even sweetness has degree n equipment to measure leh. [:p] Link to post Share on other sites More sharing options...
Kurty Supercharged July 3, 2012 Author Share July 3, 2012 wah.... the way you describe.... i would have thought you are the one opening the business.... then we can go patronise you haha, thanks for the support then. well, i hope to do a small business one day too. Link to post Share on other sites More sharing options...
Xanavi 4th Gear July 3, 2012 Share July 3, 2012 wah.... the way you describe.... i would have thought you are the one opening the business.... then we can go patronise you Got free dessert boh? And coupons to top up fuel as promotional activities, sure will boost business, but negative revenue.. Like that ask your friend standby 100k. ↡ Advertisement Link to post Share on other sites More sharing options...
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