Property curbs to tame market add $1b to tax revenue

[BuiKia]

why the government does not seem to put in much thought when increasing public transport fare, decreasing COE number or curb HDB supply? These are thing that effect the average Singapore. But they are very careful when implementing policy that seems to effect rich people such as stamp duty for private house, etc.

This is what makes people angry because we can see where they are coming from....we are no longer the draft Singaporeans like the generation before.

SINGAPORE - The surge in revenue was bolstered following the additional buyer's stamp duty (ABSD) of up to 15 per cent that was rolled out in January. - See more at: http://business.asiaone.com/news/property-curbs-tame-market-add-1b-tax-revenue#sthash.aCXle7hE.dpuf

 

[wendychan]

that's why the rich get richer and richer...

 

[greenies]

A simple solution to curb is raising price.

> To curb property price, increase tax and levy.
> To curb car ownership, increase COE price.
> To curb traffic jam along expressways, increase ERP rates.
> To curb import of foreign workers (recently), increase worker levies.
> To curb tom and dick to become elected MP, increase registration fee (though refundable after getting minimum 5% votes).

List goes on endlessly.

 

[BuiKia]

Talking about COE and ERP, some companies subsidy their director's car purchase and their ERP is fully covered. The government can consider reducing the number for big capacity COE.

A simple solution to curb is raising price.

> To curb property price, increase tax and levy.
> To curb car ownership, increase COE price.
> To curb traffic jam along expressways, increase ERP rates.
> To curb import of foreign workers (recently), increase worker levies.
> To curb tom and dick to become elected MP, increase registration fee (though refundable after getting minimum 5% votes).

List goes on endlessly.

 

[The_Hypocrite]

Such benefits should be taxed as fringe benefit tax..this will increase the cost for rich car owners. Also introduce a luxury car category COE for the farlali and lamboghini etc...to maximise the tax on the rich. the poor will have minimal impact as this is the category the working class does not look at. The objective is to prevent the ultra rich from competing in the COE with the working class.

Talking about COE and ERP, some companies subsidy their director's car purchase and their ERP is fully covered. The government can consider reducing the number for big capacity COE.

 

[kopikia]

if you guys think that coe can be used to help middle lower class people own cars, you will be very disappointed. the coe is created so that cars ownership can be artificially limited and distributed by an open bidding system. any "scarce" resource that is up for bidding will ensure that the resource will be distributed to people that have the money. so the system will mostly benefit those that are richer. it is not a fair system. open bidding systems are not meant to be fair.

nothing can stop the rich from bidding in a lower class category if the bigger class category gets too expensive for a 3rd or 4th car for their son, daughter, mistress etc.

 

[bryanlim1972]

Such benefits should be taxed as fringe benefit tax..this will increase the cost for rich car owners. Also introduce a luxury car category COE for the farlali and lamboghini etc...to maximise the tax on the rich. the poor will have minimal impact as this is the category the working class does not look at. The objective is to prevent the ultra rich from competing in the COE with the working class.

so cars should be an entitlement and not a privilege?

 

[The_Hypocrite]

Good public tpt is an entitlement,,for the COE,,what i am just saying is family cars and luxury cars should have a separate COE category to prevent canibalism by the rich,,,just trying to prevent the rich from dominating everything. If the rich wants a luxury car...they can pay more taxes etc for it to finance public tpt since they jolly well can afford it.

If the rich dont want to pay for luxury car COE. They can buy the standard COE.

Also for me,,in Singapore I no car,,i very contented to take taxi and public tpt. Trains are packed etc and roads soo congestion etc. No point I drive a luxury car etc and still get stuck in traffic,,go everywhere also ERP, parking fees etc. Works out taking Taxi is less of a hassle than driving and cheaper tooo...

so cars should be an entitlement and not a privilege?

 

[I_Hate_Pappies]

The measures did not worked. Infact, it has artificially inflated the prices thus pushing up inflation.
Gabernment has benefited immensely with all those money collected from SD. Ho Jinx is very happy.