Singapore legislation
Regulation 6A
Regulation 6A
Determination of total net personal assets
Amended byS 261/2017 wef 01/06/2017
In determining the value of an individual’s total net personal assets for the purposes of these Regulations, the value of the individual’s primary residence —
(a)
is to be calculated by deducting from the estimated fair market value of the residence any outstanding amounts in respect of any credit facility that is secured by the residence; and
(b)
is taken to be the lower of the following:
(i)
the value calculated under paragraph (a);
(ii)
$1 million.