Resale Levy is applicable to those ECs where the land sales is launched on or after 9 Dec 2013.
== Second Timers Please Take Note ==
Resale Levy:
1. Sold on or before 1997. Resale levy is computed 20% of the new EC’s purchased price. (Eg. EC $1mil, resale levy $200k).
2. Sold their subsidized flat on or before 3 March 2006. Resale levy computed by percentage.
*Only applicable to 2-room flat sellers that upgrade to a larger flat type.
If the graded resale levy was not paid when you sold the first subsidised flat, i.e. you opted to defer the payment until you purchase/ take over another HDB flat, interest at a prevailing rate of 5% per annum is charged.
3. Sold their subsidized after 3 March 2006. Resale levy is computed by flat size.
❗️VERY IMPORTANT:❗️
🔴 If buyer OWNED a subsidized flat before, SOLD it, bought a Resale Flat and still staying in it. They need to pay their levy before S&P can be issued.
🔴 If buyer is now staying in a subsidized flat now, n book an EC, they need to pay after they sell the current flat. It will be deducted from sales proceeds.
Next Read: First Timer or Second Timer?