What's the worst that could happen on Valentine’s Day? No doubt it’s Budget 2023. The front desk was a sea of flowers and goodies. Yet, nothing was for me. The streets were crowded with lovebirds. But I was ineligible for love. The defeated soul went home alone depressed and drained. Still, they broke the bad news about paying more to buy private properties. From tomorrow … [Read more...]
4 big questions of Singapore’s wealth taxes
Blackbox Research surveyed 764 people on Singapore’s Budget 2022. The results showed that two in five respondents “highly favored” tax hikes for top income earners and higher duties for luxury cars. The poll didn’t mention the type of home or personal income of the respondents. But those who “highly favored” raise in taxes are probably not targeted in the new round of … [Read more...]
Budget 2022 is another nightmare of landlords
Last Friday (Feb 18) the government announced a list of progressive tax raises in Budget 2022. They aim to generate revenues for the Inland Revenue of Singapore (IRAS) in the coming three years. When I told my friends and relatives overseas about Singapore's latest budget, they all reacted with disbelief. At present, their countrymen are complaining about runaway inflation. … [Read more...]
How the 4% Buyer’s Stamp Duty makes speculators look foolish again
Singapore Budget 2018 has only bad news for the property industry. The top marginal Buyer’s Stamp Duty (BSD) rate is raised from 3 to 4 percent for residential properties valued over $1 million. The revised rate is effective immediately on or after 20 February 2018. The Finance Minister explained this is done to enhance “progressivity” in our tax system. For industry … [Read more...]
A ‘single’ property owner’s wishlist for Singapore Budget
All taxpayers are not created equal. In every year's Singapore Budget or National Day Rally, the media will feature a low-income or middle-class family, highlighting "what he and his family will get" or "how she and her family will be benefited". But no one bothers to interview singles like us. Because we don't get anything anyway. Why do they have to penalize singles … [Read more...]