How is the HDB income ceiling for EC and BTO calculated and is there any way to work around it?

Hi, my gf and I are trying for a BTO but our income just exceeds the income ceiling (14K) by a bit (15k+). This is calculated using our last 3 months average but I understand that some calculates it using a 12 months average. What is the right way to do the calculation?

Also, the high income is largely due to me working overseas but a large portion (>30%) of it goes to tax in that country. Any advice for us?

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Elijah Lee

11 Oct 2019

Senior Financial Services Manager at Phillip Securities (Jurong East)

Hi anon. Just trying to understand your situation here. The income ceiling numbers will depend on whether you are considered employed or self-employed. If your income is variable, then it can be either considered on a 3 month, 6 months or even NOA basis.

More information can be found here.
https://www.hdb.gov.sg/cs/infoweb/residential/b...
You will need to know which category you fall into.

However, your situation is rather unique since a large portion is taxed overseas. You can make a call to HDB to explain your situation and see how they will account for your income.

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