Discussion : Singapore Property

[ahwoon]

oh, nothing much. just like what was being written in previous pages of this thread that lots of TOPs coming up and pockets of owners not able to cough up 20% of the price so may kena forced to sell. well, it's a mere speculation from what I heard this info from. prob just rumours.

many ppl told me to hold till TOP. But recently went to view the metropolitan, the asking price during TOP is actually highest, asking at 1.1-1.2K per sqf. I'm shall wait and see if this is purely speculation.

[louisoh]

Property tax to go up due to increase in home prices..

Whats next?



IMPACT ON OWNERS
In line with the rally in home prices, the taxman is revising upwards the value of Housing Board (HDB) homes. --ST PHOTO: DESMOND WEE

HOMEOWNERS: be prepared to pay higher property taxes next year.

In line with the rally in home prices, the taxman is revising upwards the value of Housing Board (HDB) homes.

The Inland Revenue Authority of Singapore (Iras) announced on Wednesday that the annual values (AV) of all types of HDB flats will be raised with effect from Jan 1.

This will mean a hike in property taxes for 2010.

The property tax rate in Singapore is currently set at 10 per cent of a property's AV, although owner- occupied residential properties enjoy a concessionary 4 per cent tax rate.

To soften the impact, a one-off rebate is being introduced to help HDB homeowners adjust to the increase.

[seiko.citizen]

dont worry, Oz has the same problem. stamp duty + capital gains all up

[wolfeyes1974]

think a consipracy lah...garmen heck care speculation so that they can collect higher taxes...

maybe garmen recouping the $$ for Jobs Credits given out?

[exxondus]

WTF!

I tht gahmen already releasing more land next year to reduce the hike in prices for property?

How come at the same time increase tax?

Maybe this is to recuperate the 2b loss that HDB reported? (and also the credits offset in a way bah)

sigh...when will my salary go up?

So what had risen thus far?

1) PUB (electricity and gas)
2) Property tax
3) ??

sigh....................

[feilong108]

true...everything that is taxable are going up....except for salary and bonus...

[toffeesthings]

How 'soft' is this one-off rebate when we need to pay property taxes every year.
It's like getting stabbed with a knife everyday but we're given only 1 plaster to stop the bleeding.

[dennistwc]

what next??

"GST" is coming to town...

[Frogmen]

dont worry, Oz has the same problem. stamp duty + capital gains all up

This are HDB and not private homes. Which are not subjected to speculations and profiteering. Which i felt it is unfair to penalise HDB home owners. It's fairer to tax the seller higher tax from the capital gains they had profited.

[toffeesthings]

Well, now that I have more details, the rationale seems to bank on the fact that rental and resale prices have increased, so why should the tax increase be imposed on folks who don't wish to rent or sell their flats?

It's like (...here I go again...) getting taxed for owning a Panerai or IWC because it's demand and prices have increased from two years ago, wtf, right?!

[exxondus]

Well, now that I have more details, the rationale seems to bank on the fact that rental and resale prices have increased, so why should the tax increase be imposed on folks who don't wish to rent or sell their flats?

It's like (...here I go again...) getting taxed for owning a Panerai or IWC because it's demand and prices have increased from two years ago, wtf, right?!

shhhh don give them more ideas!!!

[Muachee]

WTF!



sigh...when will my salary go up?


sigh....................

Your salary i donno, with all the news in these 2 weeks, one thing i can assure you is MP's salary going to go up ....

[Nooch]

Our salaries go up??? hahaha, many yrs maybe,,,ya MP's allowance confirm go up alot...sad

[seiko.citizen]

This are HDB and not private homes. Which are not subjected to speculations and profiteering. Which i felt it is unfair to penalise HDB home owners. It's fairer to tax the seller higher tax from the capital gains they had profited.

I understand the difference between HDB and private. HDB prices like it or not are in correlation with private houses . private house go up, HDB will put up their prices by a correlated amount.

Afterall, one must remember that, HDB or not, the market forces exist. You want to buy HDB (subsidised) sure, but it will always be a percentage of the the current market price in the given area.

[Watcha]

More tax = more excess = management good = economy good = bonus + pay increment.