FT (Ferrari Talent) Ma Chi leaves behind estate of $8.1 million

blissquek said:

Yes...Taxman collected some $356 million, a record collection that year on Estate Duty and Inheritance Tax from Mr Khoo estate and some others.

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Unfortunately, Madam won't be able to reply u in that state for she got 'roasted'

blissquek said:

Yes...Taxman collected some $356 million, a record collection that year on Estate Duty and Inheritance Tax from Mr Khoo estate and some others.

However, Mrs Lee and Mr Ng Teng Fong need not pay a single cent as the Estate Duty and Inheritance Tax was timely removed.

So our kitty is poorer by some 3 hundred millions.

But they find it justifiable to deduct $3 per transaction fees from the CPF account of the elderly who suffered from chronic diseases and uses medisave to pay
for his medication citing it as a processing fees to do the transfer from CPF medisave account to pay the polyclinic. ( they have quietly removed it for fear of backlash)

See how their policy favouring the rich and taxing the poor is like...

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Figures on Tax collection....FY/2004-2005...Estate duties taxes collected..$356,612,000.00
Tax Collection
Inland Revenue Authority of Singapore's Collection by Tax Type

FY2002/03 FY2003/04 FY2004/05 FY2005/06 FY2006/07 FY2007/08 FY2008/09 FY2009/10 FY2010/11 FY2011/12 FY2012/13 FY2013/14
Tax Type S$'000 S$'000 S$'000 S$'000 S$'000 S$'000 S$'000 S$'000 S$'000 S$'000 S$'000 S$'000
Income Tax
- Corporate Income Tax 10,876,295 5,923,741 6,108,599 7,340,767 8,476,655 9,273,070 10,599,444 9,589,477 10,725,754 12,149,134 12,848,677 12,705,235
- Individual Income Tax 3,865,164 3,959,460 3,428,132 3,745,458 4,550,289 5,430,482 6,128,687 6,489,742 6,893,340 7,734,969 7,703,800
- Withholding Tax 898,432 963,982 1,150,270 1,175,956 1,137,220 957,394 1,258,048 1,337,325 1,152,449
Goods and Services Tax 2,166,493 2,958,598 3,471,884 3,816,618 3,978,553 6,166,601 6,488,202 6,914,786 8,199,540 8,689,164 9,040,201 9,515,522
Property Tax1 1,232,593 1,331,566 1,701,983 1,829,177 2,014,471 2,428,533 2,856,505 1,979,434 2,798,590 3,899,038 3,777,240 4,178,867
Stamp Duty 695,437 742,874 815,369 966,677 2,015,038 3,676,667 1,431,620 2,386,217 3,276,535 3,175,069 4,309,493 3,929,920
Betting Taxes2 1,549,545 1,524,135 1,534,031 1,500,586 1,571,149 1,713,491 1,771,028 1,727,049 2,278,659 2,373,396 2,304,850 2,378,764
Estate Duty3 75,607 181,791 356,612 80,687 98,031 153,682 47,438 8,196 5,170 2,922 8,156 3,087

Total 16,595,970 16,527,869 17,947,938 19,861,076 22,863,337 29,112,603 29,800,675 29,871,066 34,731,384 38,440,111 41,360,911 41,567,644

1 Property tax collection was higher in FY2011/12 due to the cessation of the Property Tax Deferral for Land Approved for Development on 21 January 2011 which resulted in the deferred property tax being collected in FY2011/12.
2 Betting Taxes include Betting Duty, Private Lotteries Duty and Casino Tax (with effect from March 2010).
3 Estate Duty has been removed for deaths occuring on or after 15 February 2008.

How come insurance compensated the family of the deceased driver when he was driving under the influence of alcohol, blatantly speeding and ignored the red light and one hand was rubbing the passengers thigh?

All that money but none of it is returned in taxes because there are no more Estate Duties............



Thanks lky, you showed everyone your true colors ........

If I recall correctly, the autopsy revealed no evidence of alcohol in the deceased driver's blood. The insurance company was trying to get out of paying the family but I don't know if they had succeeded.

syed putra said:

How come insurance compensated the family of the deceased driver when he was driving under the influence of alcohol, blatantly speeding and ignored the red light and one hand was rubbing the passengers thigh?

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Makcik leaves behind two melons !:o

HTOLAS said:

If I recall correctly, the autopsy revealed no evidence of alcohol in the deceased driver's blood. The insurance company was trying to get out of paying the family but I don't know if they had succeeded.

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I feel I have to be fair to the deceased family....

I heard from three sources that at the crash site, Ma chi pants was half down..
One rich China dandy crashed his Ferrari and his lady passenger was fully naked.
The driver is the scion of a high official.
This crash happened in one of China airport runway .

Perhaps the victims' families should cleared this and asked if the impact of the crash caused Ma Chi.s pants to be ripped off or otherwise...