06 Nov '11, 1pm

[TOC] BTO flat income ceiling rules: why include commissions but exclude bonuses?

[TOC] BTO flat income ceiling rules: why include commissions but exclude bonuses?

The following is a letter sent by a TOC reader. I’m writing in and I’m hoping that it would be posted so that people could discuss about this issues. I applied for a HDB BTO (build-to-order) flat in july’s BTO exercise (income ceiling $8k) at the point of my application. And I received a queue number and I would be able to select a unit in October. In august 2011, our Housing & Development minister revised the income ceiling cap for BTO eligibility as many couples are already exceeding the $8000 combined income cap. As it took effect in Aug, I was elated as this means that I do not have to worry about not being eligible as my husband & my gross combined income is around $8900 (I’m a commissioned earner & my husband’s a fix pay earner). In Oct, on our flat selection date, I was informed by the HDB officer assisting me that since my BTO application date is during the July’s ...

Full article: http://theonlinecitizen.com/2011/11/bto-flat-income-ceili...

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