The ABSD remission timeline for HDB upgraders is 6 months from the new property purchase date (or 6 months from Temporary Occupation Permit date for uncompleted new launches). Within this window, the existing HDB flat must be sold (sale completed, not just signed) and the remission application submitted via myTax Portal. IRAS processes refunds within 4–6 weeks of complete documentation.
Step-by-step ABSD remission timeline
- Day 0 (purchase): OTP exercise on new condo. ABSD clock starts.
- Day 14: ABSD payment due (20% × purchase price for SC second property).
- Day 14–180: HDB flat sale process — listing, OTP, completion.
- Day 180 (6 months): HDB sale must complete by this date.
- Day 180+: Submit refund application via myTax Portal with completion statement.
- Day 210–230: IRAS processes refund — typically 30 working days.
For new launches: replace Day 0 with TOP date (typically 2–4 years after OTP). The 6-month clock starts at TOP, not booking. Source: IRAS.
Required documentation for refund
- HDB sale completion statement (CSC)
- Marriage certificate (both spouses must be co-owners of both properties)
- Purchase agreements for both properties
- Cancelled cheque or bank statement for refund
Forfeiture risks
The S$300,000 ABSD is forfeited if:
- HDB sale completes after the 6-month deadline
- Buyer pulls out and a new buyer is not secured within 6 months
- One co-owner does not appear on both property titles
- Marriage is dissolved during the 6-month window
See: complete upgrade framework.
FAQ
What if the HDB OTP is signed before 6 months but completion is after?
The 6-month deadline is the completion date, not OTP signing. Plan for 8-12 weeks resale completion.
Can the refund be received in CPF?
The refund is typically cash, deposited to the buyer's bank account.
Is the refund subject to GST?
No. ABSD refunds are returns of duty already paid.