Monday, November 23, 2009

Govt helps Singaporeans by increasing property tax!

It is not enough for you to understand that the property tax has been increased because your property value has gone up due to our govt's inability to cool the current property bubble. You have to understand that the increase is actually done for your own good and this increase is made to help you!

According to Minister Lui, the hike of property tax next year is to prevent a bigger hike later "should home prices continue to rise". How does he know that home prices will continue to rise? It will only keep rising if the HDB does not keep up with supply so is that the govt game plan?

So all of us should go to our boss to ask for a pay hike to help our company. Please hike our pay now to avoid a bigger hike next year should the economy get stronger.
Hiked to avoid bigger rise[Link]

THE property tax of HDB flats is being raised next year partly to avoid having to introduce a bigger increase later should home prices continue to rise, said Acting Minister for Information, Communications and the Arts Lui Tuck Yew.

He gave the reason on Sunday when he was asked, at a dialogue with Aljunied-Hougang residents, whether the Government could have delayed it since the recession has just started to ease


Anonymous said...

Err...what must property tax continue to increase?

You mean the govt has absolutely no power to say, "No tax increase?"

Looks like I was right after all. A vote for PAP is just a vote for higher taxes, higher cost of living, scholarships for FTs & bank loans for citizens, jobs for FTs & NS for citizens.

oldfart said...

Wow! What a brilliant mind.
Now PAP can also up ministers' pay using the same excuse!

This gahment really really lost touch with reality.

Up property tax to help us?

In the PAP ministers' eyes, singaporeans really look so silly?
They EXPECT us to believe that?

Wake up singaporeans!!!!!

Anonymous said...

Is it a capital gains tax for sale or tax for ownership?

The first discourages speculation but the second is pretty harmful.

Because you are taxed on a non existence income stream which is the 'appreciation' of your property.

You are not making actual money but you are taxed for it.

Anonymous said...

In the PAP ministers' eyes, singaporeans really look so silly?
They EXPECT us to believe that?

As long as u folks continue to indulge in intellectual snobbery(chit chat among urselves here) and make not attempt to educate the stupid (aka 66.6%), or actually make urselves available to stand for election then ...

They expect *us* to believe it. And most of *us* really will.

To Singaporean Gullible (the US guy who still buys SG insurance) ... capital gains affect their business. Tax for ownership is paid by *us*. So yes. Harmful to *us* BUT good for *them*. No brainer.

Anonymous said...

i hate to break this to you, but apparently it must have been successful the last time they tried "We raise GST to help the poor!"

that's why they did it again for property tax.

following the anticipated success this time, expect the same logic to be applied to:

1. we raise HDB flat prices to help singaporeans

2. we raise transport/erp to help singaporeans

3. we raise s&c .....

Alan Wong said...

I really don't understand our Govt wants to increase the property tax just because the property value has increased even when we are not renting out the property ?

If we rent out our property and if the annual value increases, we will already be taxed because of the increased rental income received that we will have to declare to IRAS ?

So on top of that they still want to collect additional tax, is this not amount to double taxation ?

So for those owner occupied properties where there is no rental to receive in the first place, why are they penalised to pay additional tax just because the value of the property has increased ?

So when our Ministers and MPs next tell us that say 85% of Singaporean do not pay income tax, then we can next tell them that they are worse liars than what CSJ has been made to be because when we pay other from of taxes which also come from our income !

You name it: GST, COE, ERP, property tax, stamp duties, TV licence, etc. So next time, better just tell us that NO SINGAPOREAN has not been affected ?

Alan Wong said...

Not to forget that now there is a SUBSIDY of up to 50% in property tax !

How generous is our PAP hypocrite Ministers & MPs !

Anonymous said...

ha ha ha ha ha... an increase in property tax to help us! Indeed!

The announcement of the tax rebate have not even been sunk in, and here they are, already implementing increases to get it back.

Last time, still can enjoy the rebate first, then the increases. Now, before the rebate even gets a chance to kick in, the tax increases liow!

ha ha ha ha ha... Left hand receive, cannot even keep in pocket, now right hand must give it up liow! Uniquely Singapore indeed!

Anonymous said...

I really can't stand it.

I try not to contribute to the pap by avoidng certain taxes. I don't buy car; I seldom eat at restaurants where there are 17% charges. I buy clothes and books when I visit Malaysia.

But this stupid property tax and TV license I can't avoid. WTF!

Anonymous said...

First they raise the property taxes
for all home owners. Next they
give subsidy of 50% to make them
sound so magnanimous.
Goodness, they are still treating like 5 year old idiots and morons.

Fievel said...

Wah, where did PAP find all these guys? Their collective cognitive intelligence is shockingly low!

For the money we pay, can't we get better guys? Singapore's got such a lousy talent pool?

Anonymous said...

so,does he mean that if property bubble burst, we are going to get lower property tax? pls keep his words in archive.

it is crazy to let property tax to correlate with the roller-coaster property cycle.

sgcynic said...

Recipe for boiling frogs: slow and steady increase in temperature!

Anonymous said...

You are confirm a trouble maker and mad man. We need ISA to lock up mad man like you so Singapore can continue to prosper.

We will turn into a pakistan if people like you are allowed to create trouble.

Thanks god those people were locked up for 30 years. If i were LKY i will put them in there until they die. Those people deserves all their jail term.

Anonymous said...

Wow! What a brilliant mind.
Now PAP can also up ministers' pay using the same excuse!
23/11/09 07:21

No lah. They actually have no choice. If the pay is not Million$$$, then there will be CORRUPTION and DECAY and all brilliant people will be at the private sectors earning X6 to X7 the amount paid. We must be GRATEFUL THEY TAKE THIS BLOOD SWEAT JOB and MEASLY PAY.

Anonymous said...

I have a even brillaint explanation:

The rise in property tax is to ensure only the very rich can afford the house Oooop.. I mean this is a measure they take pains to implement to curb the increase in property price speculations. More like capital taxes, levy if they property cannot cool THANK YOU I am looking for a re-sale flat now...

Xtrocious said...

I suspect property tax is also a tool for social engineering...

If you can't afford to pay the property taxes in the district you are in, move out and make way for those who can...

A case in point - those HDB owners along Farrer Road - their postal code is District 10 woah...

Sooner or later, the rising AV will push them out and allow the richer PRs to move in...

lim said...

@ Alan Wong

We already have double taxation - GST on top of water conservation tax, and GST on top of petrol tax...

Idici said...

1. Govt pays the ministers world's highest salary so that they won't become corrupt, while suppressing the wages of ordinary people who are the ones who are likely to become corrupt.

2. Govt indulges in social engineering that causes the great social divide and says that social divide is inevitable.

3. Govt contributes to the large income gap and makes people unhappy and says that Gini Coefficient is not important.

4. Govt increases GST to help the poor, who need not pay personal income tax but have to pay GST.

5. Govt deliberately welcomes an incessant influx of foreigners, to take away our jobs, in order to create more jobs.

6. Govt increases property tax, while jacking up property prices, during the economic downturn, in order to help Singaporeans tide over this economic downturn.

This is the result of having highly intelligent people who use their intelligence to outsmart the very people whom they are supposed to serve but lord over them instead!

Anonymous said...

Next in line for hefty rise in price due to taxation will be tobacco, i think.

Smoking is no sin, but in SIN smokers are damned. My Camel cost me SID0.90 when i started, now $11.70, later $11.70++++++++?

We, the smoking Sinners are penalised though no crime committed. Shit!


Anonymous said...

I can see what will happen next.

Property tax rate will go up permanently. Subsidies will stifle the complains and next year, the subsidies will be stop due to "improving economic condition".

They used the same method for GST,remember?

Anonymous said...

Puzzling comment. Although I also own a HDB flat, I'd rather prefer prices stay stable. What is needed is to put more HDB flats up for sale. We used to have 40 to 50k new flats up for sale. The gov needs to come up with better ideas to generate revenues.