What are the tax-eligible uses of funds from a home savings scheme?
Acceptable uses of home savings scheme funds:
- Construction or purchase of a personal residence.
- Renovation, maintenance, or repair of an existing home.
- Acquisition of land to build a personal residence.
- Installation of solar panels or thermal systems integrated into the home.
- Repayment of loans related to the above purposes.
Not eligible:
- Buying cars or personal items.
- Financing secondary residences, rental properties, or commercial buildings.
- Using the funds more than 12 months after maturity (except in specific cases).
Updated on: 19/08/2025
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