I read an article that China is taking steps to make sure that their people have jobs during the global slowdown.
My friend in Jakarta told me that Indonesia is also implementing similar measures. They create jobs to keep people employed.
What about Singapore? We have a govt that does nothing but just talk, and they talk theory and nonsense.
OK - what do I expect them to do? They can try some of my ideas here.
https://tklcloud.com/Feedback/feedback2.aspx?id=2403
Shortly after graduating, I joined the workforce and added my name to the ownership of my parents' Housing Board flat to help in the payment of the mortgage.
ReplyDeleteI have been married now for several years and still do not own a property because I would end up paying the additional buyer's stamp duty (ABSD).
I have appealed to the Inland Revenue Authority of Singapore (Iras) to waive the ABSD that I would incur, but Iras rejected it.
It stated that "this ABSD treatment has been consistently applied to all Singaporeans in circumstances similar to mine", adding that it was unable to make an exception for my case.
Such application of the ABSD policy without considering specific circumstances seems inequitable and works against those of lower income.
I understand that the objective of the ABSD is to reduce demand for residential properties so that housing remains affordable for Singaporeans. But how many Singaporeans are in the same situation as me?
Is the number big enough to drive up property demand in Singapore if we were to be exempted from the ABSD?
I feel that a good and fair policy should consider the unique circumstances of individual cases. Consistency may not always be the right thing to do.
Cynthia Lim Sin Shyan
From Straits Times Forum Page:- A filial daughter who just wants to own her own home but faces extortion from its policy!
From Straits Times Forum Page:- A filial daughter who just wants to own her own home but faces extortion from its policy!
ReplyDeleteShortly after graduating, I joined the workforce and added my name to the ownership of my parents' Housing Board flat to help in the payment of the mortgage.
I have been married now for several years and still do not own a property because I would end up paying the additional buyer's stamp duty (ABSD).
I have appealed to the Inland Revenue Authority of Singapore (Iras) to waive the ABSD that I would incur, but Iras rejected it.
It stated that "this ABSD treatment has been consistently applied to all Singaporeans in circumstances similar to mine", adding that it was unable to make an exception for my case.
Such application of the ABSD policy without considering specific circumstances seems inequitable and works against those of lower income.
I understand that the objective of the ABSD is to reduce demand for residential properties so that housing remains affordable for Singaporeans. But how many Singaporeans are in the same situation as me?
Is the number big enough to drive up property demand in Singapore if we were to be exempted from the ABSD?
I feel that a good and fair policy should consider the unique circumstances of individual cases. Consistency may not always be the right thing to do.
Cynthia Lim Sin Shyan
Dear fellow Singaporeans,
ReplyDeleteWe must not allow the PAP secure 69.9% of the votes. If we keep giving them such a score, they will just hire people there just to "scratch the surface" in making their cut-throat policies.
They deserve only 50.1 % of the votes in that way they will watch their 2% before they decide to make us feel that they can walk all over us.
My family and I will not be voting for them even if they bring down the ABSD to minus 12% as it was not a sincere offer. ABSD should not even be in the "cooling-property" in the first place. SSD should increased to 5 years starting from 20%. This will discourage "flipping" in the short-term. It should never make profits from buyers who qualified from loan criteria.
Thank You.
Which day and age do these high handed policy makers live in ?
ReplyDeleteForeigners must be make welcome to buy properties here. But they must not be able to rent it out so as their loan is being paid by bringing in money to Singapore and not paid with rentals? When we have Ministers who have no idea how to grow the economy, other than increasing GST, and taxing more on the people, what good can the country go? Besides when these people come and live in their holiday homes here, they spent their money here. Besides when the government knows how to earn extra income, it has less burden on its people?
ReplyDelete