Web Of Deceit?

[TracyTan866]

Possibly so. We do not know.

If you do not know, how could you say possible so?

 

[TracyTan866]

Let them pay the price for alledged deceit then. Whats the problem?

The problem is Singaporeans are paying the price for their deceit and they are laughing themselves to the bank

 

[TracyTan866]

In principle, the govt should not interfering with how the company price their fares too

Exactly. two wrongs do not make a right. also the pap shd allow true market forces to prevail and not allow monopolies.

Do you see the limitations of the pap?

 

[TracyTan866]

It has to start somewhere, it just so happens it was then.

You call it co-incidence. I call it deceit! Taxing others but when it comes to your turn to pay up and you change the rules is not co-incidence. It smells rotten when you are the PM. Cant blame Singaporeans who shout "legal corruption". A honourable govt must not just do the right thing. A honourable govt must be seen to be doing the right thing

 

[Kinana]

If you do not know, how could you say possible so?

if they are paying less, how could they be paying out more to us?

 

[Kinana]

You call it co-incidence. I call it deceit! Taxing others but when it comes to your turn to pay up and you change the rules is not co-incidence. It smells rotten when you are the PM. Cant blame Singaporeans who shout "legal corruption". A honourable govt must not just do the right thing. A honourable govt must be seen to be doing the right thing

There is not even a coincidence at all.
Inheritance tax would not kick in after KGC died because LKY is still around. you don't even understand our inheritance tax but want to make conspiracy theory.

 

[TracyTan866]

There is not even a coincidence at all.
Inheritance tax would not kick in after KGC died because LKY is still around. you don't even understand our inheritance tax but want to make conspiracy theory.

KGC died, LKY dies, what happens to their monies?

 

[Zombie]

KGC died, LKY dies, what happens to their monies?

under the abolished law:

when KGC dies, her estate is fully subjected to estate duty..

assuming she gives everything to LKY, forming 30% of his assets..

1) if LKY dies within 6 months (after KGC), then the 30% of his estate is entitled to 100% relief from estate duty, the 70% is still taxed in full..

2) if LKY dies after 2 years (after KGC), then 100% of his estate is to be taxed in full.. ie no relief

 

[TracyTan866]

under the abolished law:

when KGC dies, her estate is fully subjected to estate duty..

assuming she gives everything to LKY, forming 30% of his assets..

1) if LKY dies within 6 months (after KGC), then the 30% of his estate is entitled to 100% relief from estate duty, the 70% is still taxed in full..

2) if LKY dies after 2 years (after KGC), then 100% of his estate is to be taxed in full.. ie no relief

Thanks for the insights.

In your opinion, do you think the sudden abolition of estate duty benefits the LEE family?

 

[Zombie]

In your opinion, do you think the sudden abolition of estate duty benefits the LEE family?

sorry to say I dun know...
I think they certainly know that if they transfer all the assets to the children 5 years before they die, there is nothing much to tax..

 

[TracyTan866]

sorry to say I dun know...

ok..thanks

 

[Kinana]

KGC died, LKY dies, what happens to their monies?

Goes to whomever they will it.
When your parents die, you get to inherit it full, the govt doesn't steal from you. No good?

 

[freedalas]

Hi Tracy

There's really no point engaging with Kinana. It's plain to anyone here he's absolute PAP balls carrier with absolute no substance. So people will just ignore his postings thereby not needing any rebuttal. U have been doing a pretty good job exposing the lies and deceit of the PAP. Stay focus on that as it's very enlightening to us all.

 

[steffychun]

Consider the following:

1. GIC and TH use CPF for their investments. They boasted that they make annualised returns of abt 18% and pay themselves handsomely. But they pay CPF investors a paltry 2.5% return when inflation is at 5%. Malaysia's EPF pays 5.8% to their EPF depositors. How can Singaporeans have enough savings for their old age when their long term retirement deposits get less returns than the rate of inflation? Is there deceit?

2. TH gets its subsidiary DBS to buy its Danamon Bank at 57% premium of its market price. In the process, TH makes billions of dollars. Left pocket paying 57% premium to the right pocket, called it profits and pays right pocket huge salaries? DBS share price plummeted.. Is there deceit?

3. SG govt intends to give $1.1B to SBS to buy buses. This is tantamount to a handout of $1.1B of Singaporeans' money to TH and SBS. Because of this handout, SBS wld make more profits and TH and SBS management and shareholders will get fat salaries and high dividends. Why cant SBS, as a public listed company run its business according to corporate principles and governance and take commercial loans for its 800 buses? why shd the pap give $1.1B of tax payers money to a listed company and allow them to pocket the profits? the $1.1B could have been rightfully used to help the poor and the sick. Is there deceit?

4. Why was estate duties abolished when KGC was on her deathbed?

http://atans1.wordpress.com/2012/04/08/err-temasek-can-do-savvy-deals-too/

 

[TracyTan866]

Goes to whomever they will it.
When your parents die, you get to inherit it full, the govt doesn't steal from you. No good?

It took you so long to finally see my point that the abolition of estate duties when KGC was on her deathbed helps the LEE family to escape paying hefty taxes to the country.

When KGC died, her money may go to LKY..but LKY will also die one day and their monies cant escape being taxed unless the pap abolish estate duties..and that's what the pap did when KGC was on her deathbed.

The LEE family will have to pay hundreds of millions of dollars in estate duty if it was not abolished quite recently. But that's not the key issue. The key issue is that Singaporeans will finally know and be appalled at the wealth amassed by LKY. Questions will be asked, how did he amass so much wealth. Can the LEE family handle such queries and still try to appear clean?

With the abolition, the LEE family saves much money and LKY can keep the secret of his wealth to his grave. One abolition kills two birds.

But I blame the PAP Cabinet for being so b.ll-less.

 

[TracyTan866]

Hi Tracy

There's really no point engaging with Kinana. It's plain to anyone here he's absolute PAP balls carrier with absolute no substance. So people will just ignore his postings thereby not needing any rebuttal. U have been doing a pretty good job exposing the lies and deceit of the PAP. Stay focus on that as it's very enlightening to us all.

Thanks for your advice. I seldom come into this forum and dont know the forumners well. I agree with you abt KINANAand will heed your advice He does appear young and ignorant.

 

[Zombie]

When KGC died, her money may go to LKY..but LKY will also die one day and their monies cant escape being taxed unless the pap abolish estate duties..and that's what the pap did when KGC was on her deathbed..

I think there is some misunderstanding here...

under the abolished law, when kgc died, before her money goes anyway, this estate must be managed like a trust.. and estate duty is first taxed then all the balance can go to whoever at whatever portions she willed...

if she gives everything to LKY, it means LKY will only receive after-tax-money from KGC..

this after-tax-KGC-money will combine with LKY-money to form combined-LKY-estate when he dies..

if he dies after two years, the combined-LKY-estate will be fully taxed again, even if a portion of it comes from after-tax-KGC-money.. ie the kgc portion is taxed twice..

sorry for confusing the matter..

 

[TracyTan866]

I think there is some misunderstanding here...

under the abolished law, when kgc died, before her money goes anyway, this estate must be managed like a trust.. and estate duty is first taxed then all the balance can go to whoever at whatever portions she willed...

if she gives everything to LKY, it means LKY will only receive after-tax-money from KGC..

this after-tax-KGC-money will combine with LKY-money to form combined-LKY-estate when he dies..

if he dies after two years, the combined-LKY-estate will be fully taxed again, even if a portion of it comes from after-tax-KGC-money.. ie the kgc portion is taxed twice..

sorry for confusing the matter..

Thanks for the clarification.

The gist is that if the estate duty was not abolished, the LEE family wld have to play taxes and also Singaporeans will know the amount of wealth KGC and LKY have amassed over the last 50yrs. and it will surely attract questions on how such wealth could be accumulated based on his PM salary and her lawyer firm dealings

So, die die, LKY had to ensure that no one gets such information... the abolition of estate duty is the solution. But the saying that "you can bluff all the people some of the time and you can bluff some people all the time. But you cant bluff all the people all the time" still holds true. let's see when the complete truth abt LEE family's wealth will be revealed

 

[Kinana]

It took you so long to finally see my point that the abolition of estate duties when KGC was on her deathbed helps the LEE family to escape paying hefty taxes to the country.

It helps you and everybody else too, its very fair and good.

When KGC died, her money may go to LKY..but LKY will also die one day and their monies cant escape being taxed unless the pap abolish estate duties..and that's what the pap did when KGC was on her deathbed.

Which means its a coincidence la. The timing of the abolishment has nothing to do with KGC's death then. What are you talking about?

 

[dareme]

http://atans1.wordpress.com/2012/04/08/err-temasek-can-do-savvy-deals-too/

I'm sorry but this article is doesn't add much. Unless we know TH's and GIC's quarterly returns, we can't really judge their performance. Also, because TH and GIC got first dips on GLCs, the real benchmark is their ROI on non-GLCs. But due to their secretive nature, these figures are out of our hands and so we can only speculate on their performance.