Anonymous
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)
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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.