- Joined
- Dec 30, 2010
- Messages
- 12,730
- Points
- 113
What enrages you more? The fact that you can’t cash out your Central Provident Fund (CPF) account unless you renounce your citizenship, or that Singapore Permanent Residents (PRs) can withdraw all of their CPF funds AND Housing and Development Board (HDB) sales proceeds with them when they leave Singapore?
Understandably, you’re pissed off because it’s not fair that someone from another country can take part in your social security program (CPF), use it as a glorified saving account, and withdraw all of it when he/she moves back home.
Let’s not forget the property issue as well. A PR flipping his/her property before leaving Singapore can easily make several hundred thousand dollars – more than enough to buy a huge landed property in 75% of the world.
These are issues that beg the question, “Should PRs be allowed to cash out whenever it’s convenient, or should they pay their fair share?”
“Flipping” property boils down to this simple definition – purchasing real estate below market value and selling the property when the market rises, usually within a short period of time. For people who flip property, their intention isn’t to live there “permanently,” but to sell it for a profit.
In terms of citizens and PRs, who do you think is more likely to buy a property and live in it on a “permanent” basis?
The answer is a no-brainer, and that’s what angers Singaporeans – the fact that PRs jumping ship to go home can just “flip” their property and leave Singapore like a bandit walking out of a bank.
More here to raise your blood pressure....https://sg.finance.yahoo.com/news/prs-leaving-singapore-allowed-keep-160000226.html
Understandably, you’re pissed off because it’s not fair that someone from another country can take part in your social security program (CPF), use it as a glorified saving account, and withdraw all of it when he/she moves back home.
Let’s not forget the property issue as well. A PR flipping his/her property before leaving Singapore can easily make several hundred thousand dollars – more than enough to buy a huge landed property in 75% of the world.
These are issues that beg the question, “Should PRs be allowed to cash out whenever it’s convenient, or should they pay their fair share?”
“Flipping” property boils down to this simple definition – purchasing real estate below market value and selling the property when the market rises, usually within a short period of time. For people who flip property, their intention isn’t to live there “permanently,” but to sell it for a profit.
In terms of citizens and PRs, who do you think is more likely to buy a property and live in it on a “permanent” basis?
The answer is a no-brainer, and that’s what angers Singaporeans – the fact that PRs jumping ship to go home can just “flip” their property and leave Singapore like a bandit walking out of a bank.
More here to raise your blood pressure....https://sg.finance.yahoo.com/news/prs-leaving-singapore-allowed-keep-160000226.html
