If the selling price after paying your share of the outstanding housing loan is insufficient for the required CPF refund, your refund amount will be the higher of the two figures calculated by the formulae below:
|Formula 1||Part share selling price – x% of outstanding housing loan|
Where x% = share of flat sold
|Formula 2|| Your required CPF refund x Balance proceeds|
Total required CPF refund of you and co-owner
Where Balance proceeds = Selling price for whole flat - Outstanding housing loan
The refund is capped at the required CPF refund.
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