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Why Avoiding ABSD Could Put Property Investors at Higher Risk of Financial Loss

The Straits Times LogoThe Straits Times3w ago

 Why Avoiding ABSD Could Put Property Investors at Higher Risk of Financial Loss - The Straits Times

Quick Summary:

The one-sided nature of the contest is especially evident in the case of property deals.

If there is an attempt to avoid paying the ABSD, such as using the “99-to-1” gambit, the Iras would be on alert.

Taking on the taxman is ultimately a loser’s game given the agency’s wide-ranging power to strike down sham processes designed to escape paying levies.


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Article Details

Category: EconomyBusiness

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-05-26 @ 05:00:00 (3 weeks ago)

News Timezone: GMT +8:00

News Source URL: straitstimes.com

Language: English

Article Length: 158 words

Reading Time: 1 minutes read

Sentences: 11 lines

Sentence Length: 15 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Straits Times

News ID: 21086080

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About The Straits Times

The Straits Times Logo

Main Topics: EconomyBusiness

Official Website: straitstimes.com

Update Frequency: 7 posts per day

Year Established: 1845

Headquarters: Singapore

News Last Updated: 5 hours ago

Coverage Areas: Singapore

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Local / Regional

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #25

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