What is my net profit after taking into account BSD and 5% ABSD?

Given that you are a Singapore Permanent Resident (PR) and you only paid 5% on the Additional Buyer's Stamp Duty (ABSD) for your first property, here’s how you can calculate your net profit after selling the property:

Step 1: Calculate the Total Costs Incurred on Purchase

• Purchase price: $1,020,000
• Buyer's Stamp Duty (BSD): Calculated as follows:
  • 1% of the first $180,000 = $1,800
  • 2% of the next $180,000 = $3,600
  • 3% of the next $640,000 = $19,200
  • 4% of the remaining $20,000 = $800
  • Total BSD = $1,800 + $3,600 + $19,200 + $800 = $25,400
• ABSD: 5% of $1,020,000 = $51,000
• Total costs on purchase: $1,020,000 (purchase price) + $25,400 (BSD) + $51,000 (ABSD) = $1,096,400

Step 2: Calculate the Net Selling Price After Agent Commission

• Selling price: $1,250,000
• Agent commission: 2% of $1,250,000 = $25,000
• Net selling price: $1,250,000 - $25,000 = $1,225,000

Step 3: Calculate the Net Profit

• Net selling price: $1,225,000
• Total costs on purchase: $1,096,400
• Net profit: $1,225,000 - $1,096,400 = $128,600

So, your net profit after taking into account the BSD and ABSD would be $128,600.