TAP Housing Withdrawal
TAP Housing Withdrawal
Members who defer to join SPK and has never withdrawn TAP Housing Withdrawal for housing purpose can still do so. Members are allowed to withdraw ONCE only hence Member is encouraged to plan when is the best time to withdraw for your housing purpose.
When withdrawing for TAP Housing Withdrawal, Member must be informed on the following:
The withdrawal is solely for purchasing a house, building a house, or repaying a house loan or government loan.
The withdrawal for the housing work will be paid directly to the contractor, developer, bank or Government via direct transfer - no cash or cheque payment.
Complete documentations are submitted to ease withdrawal process.
Eligibility
Conditions
TAP member for a minimum period of 10 years with at least 5 years of active contributions OR has a minimum TAP savings of $40,000.00.
Amount
up to 45% of the TAP account balance during application.
Withdrawal Amount
Total amount of withdrawal is subject to the procedures and requirements of the arrangements set out in the TAP Act, Chapter 167 and TAP Rules.
Calculation Procedure for withdrawal:
1. Building or Purchase
1.1) 20% of the purchase price or the cost of building such house. (Land title under Applicant’s Name)
OR
1.2) 10% of the purchase price or the cost of building such house that cost $150,000.00 and ABOVE. (Land title NOT under Applicant’s Name)
OR
1.3) 15% of the purchase price or the cost of building such house that cost $149,999.00 and BELOW. (Land title NOT under Applicant’s Name)
OR
1.4) 45% from member's TAP savings.
2. Outstanding loan as at the date of application.
45% from member's TAP savings
The total calculation to be approved is whichever is the less.
Total amount of withdrawal is subject to the procedures and requirements set out in the Employee Trust Act, Chapter 167 and TAP Rules.
Payment Method
Paid in lump sum to the relevant party
Bank
for housing loan
Contractor
for building a house
Developer
for purchasing a house
Government
to Treasury Department or National Housing Scheme
Documents Required
Ensure the documents required are complete before proceed to submission.
Payment Balance (National Housing Scheme)
Copy of Member's Identity Card.
Copy of latest salary slip.
Copy of Confirmation Letter of House Ownership.
Copy of Repayment of Housing Loan from Ministry of Development.
Copy of Certificate of Balance.
Note: The house has to be under MEMBER'S NAME
Payment Balance (Housing Loan - Bank or Treasury Department)
Copy of Member's Identity Card.
Copy of Land Grant.
Copy of latest salary slip.
Copy of Construction Agreement or Sales and Purchases Agreement.
Copy of Housing Loan Agreement from Treasury Department or Bank.
Copy of latest Certificate of Balance.
Building / Buying a House (On Land)
Copy of Member's Identity Card .
Copy of Marriage certificate.
Copy of Construction Agreement or Sales and Purchases Agreement.
Copy of Power of Attorney (If land title is not under applicant's name).
Copy of Deposit receipts or ConfirmationLetter if no payment is made.
Housing Loan Breakdown.
Developer's License (16 & 17) or Vendor's Identity Card.
Copy of latest salary slip.
The copy of applicable supporting document only:
Copy of Land Title.
Copy of Letter for Process of Ownership (For Land Grant not under Applicant's Name).
Copy of Land Allocation Letter.
Copy of Land Acquisition Letter.
The applicable supporting document from ABCi only:
Permit to Carry Out Building Works ABCi - Form C.
Occupation Permit ABCi - Form E.
Additional documents required for Members who do not have any financial assistance from banks or with the Government are:
Copy of Member's source of income and/or bank statement must be provided.
To fill-in a TAP Confirmation letter that no loan has been made.
To fill-in a TAP Confirmation letter by builder or seller.
Buying a House (Kampong Ayer)
Copy of Member's Identity Card.
Copy of latest salary slip.
Copy of Change of House Ownership Confirmation letter.
Copy of House Plan layout of the the house from Brunei and Muara District Department.
Copy of Seller's Identity Card.
Copy of Sales and Purchases Agreement.
Copy of Advance payment receipt or Confirmation letter if no payment is made.
Online TAP Housing Withdrawal Application
Skip the queue at TAP Branch and do it from your home.
Application Form
Click to download
TAP Housing Withdrawal Form
No Housing Loan Confirmation Letter