Attached please find my article published in TODAY newspaper about property tax. Just for your info.
Mr Tan - feel free to publish this in your blog if you think this is useful. There were a few comments attached to this article. see link below.
T C Thian
My comment
I agree with the views expressed by the writer. We should not expose owner occupiers from the vagaries of the rental market.
i did a quick google on HK.
ReplyDelete"In Hong Kong , there is a kind of tax named a property tax, but it is not an ad valorem tax; it is actually classified as an income tax. According to HK Inland Revenue Ordinance IRO s5B, all property owners shall not be subject to this tax; unless the HK property owner has received a consideration, the example is rental income for the year of assessment."
so once again ordinary Sporeans are being squeezed by the pap garment.
Exactly ! Some will be fooled by the "reduction in Property Tax " but just wait. The new formula is fair for private property owners, but the vast majority of Singaporeans who can only afford ONE 99-yesr-Lease HDB, somewhere along the line became an valuable Enhancable Asset owner, just wait for the accessment from your firendly Taxman in one to two years.
ReplyDeleteThis move smack of "high arrogance" & is akin to day-light robbery. Extra Bonus for the PS who came up with this !