Income Ceiling

Your average gross monthly income must not exceed $14,000.

Income/ allowance that will be considered for the income ceiling

Allowances (fixed/ variable) received on a regular basis (e.g. allowances for food, transport, laundry, uniform, etc.)
Pension
Stipend
Sustenance

Income/ allowance not considered for the income ceiling

Alimony allowance
Bonuses
Director fees
Income from overtime work income
Interest from deposit accounts
National Service Allowance
Rental income
Scholarship overseas allowance

Income documents to prepare

You and any other applicants and essential occupiers will need to prepare:

Latest 3 months’ payslips if employed full-time
12 months’ of income documents for other employment types
Proof of unemployment if not working

Specific documents are needed depending on your nature of employment. Also, please note that some forms of income/ allowance are not included when assessing your household income.

Aside from these documents, the developer may also request further documentation if needed.

NATURE OF EMPLOYMENT	DOCUMENTS TO SUBMIT	NOTES
Employed person	Latest 3 months’ payslips, i.e. month of application and preceding 2 months Letter from employer certifying salaries for the month of application and the preceding 2 months; the letter must contain the: Company stamp/ letterhead Certifying officer’s name, signature, and designation	Assessment is based on the average gross monthly income, which: Excludes bonuses and income earned from overtime work Includes allowances (fixed/ variable) received on a regular basis (e.g. allowances for food, transport, laundry, uniform, etc) Notice of Assessment(NOA) from the Inland Revenue Authority of Singapore (IRAS) is not accepted
Self-employed person	Latest NOA from IRAS or Statement of Annual Accounts certified by an audit firm Valid Accounting and Corporate Regulatory Authority (ACRA) Computer Information (Business Profile) or valid licence of trade	Assessment is based on the average gross monthly income for the past 12 months
Part-time worker	Latest 12 months’ payslips Letter from employer certifying salaries for the last 12 months; the letter must contain the: Company stamp/ letterhead Certifying officer’s name, signature, and designation	Assessment is based on the average gross monthly income for the past 12 months
Commission-based person	Latest 12 months’ commission statements/ payslips Letter from employer certifying salaries for the last 12 months; the letter must contain the: Company stamp/ letterhead Certifying officer’s name, signature, and designation	Assessment is based on the average gross monthly income for the past 12 months
Odd job worker	Latest NOA from IRAS Previous year’s NOA from IRAS	Assessment is based on the average gross monthly income for the past 12 months
Unemployed person (between 18 to 62 years old)	Statutory Declaration to declare the employment status or valid Student Pass if currently a full-time student If unemployed for less than 3 months, the following documents are required: Income proof for the preceding months from the previous employer stating their gross monthly income and last day of service Latest 15 months’ CPF contribution history	The Statutory Declaration can be executed at the HDB Hub Loans Counter or any HDB Branch. Declarants are required to bring along their Identity Cards If not in Singapore, the Statutory Declaration can be made in the presence of a Commissioner for Oaths or Notary Public for that country