[YummyKing]

Note here..

The Ministry of Finance said 93% of owner-occupied property will not be affected by the higher property tax. These properties include HDB flats, most condominium apartments and low-value landed property. However, the higher property tax would reduce the net rental yield for residential properties, Mak says. “As a result, investors would rely even more on capital appreciation when they invest in real estate.”


https://www.edgeprop.sg/property-news/si...-end-homes

[ysh02]

Starting with drop in property prices of new launches and new properties. Those genuine buyers looking for a home to stay now can Pang sim to get a property within their budget.

If they have the money to buy a few K increase nothing to them....they can earn back very soon type !

[ROFLMAO]

Should increase more

[sclim]

door open. more demand for rental. so just add increased to rental. tax man want more so collect from tenant to pay. every land lord do same same. tenants no choice but to pay.

[YummyKing]

If they have the money to buy a few K increase nothing to them....they can earn back very soon type !

What you mean they can earn back?when they are buying for own stay., value go up later is no matter to them. If they sell high, the next property they want to buy will also be high.
Many genuine home owner want to buy the best home for their own stay at affordable prices.prices they can afford without worrying about their living expenses, children expenses, medical bills, what if they lose their job etc?

But many good accessible places, or near parent houses, near good schools, have been priced out of their range. Because many rich young guys with rich parents and those China foreigners have been snatching up the properties and driving up the prices . This is the sorry state of the genuine homeowners seekers.

[Bluebull]

I read until blur.

Singapore got HDB value at lesser than $30k, meh?

This will impact top 7% or in fact, impact 93% of owner residential properties? 

This increase will impact the top 7 per cent of owner-occupied residential properties, Mr Wong said in his Budget speech.

Owner-occupied homes with an annual value of $30,000 or less, such as Housing Board flats or condominiums and landed property in suburban areas, will not be affected by the increase in property tax rates.

The final tax rates of up to 36 per cent for non-owner-occupied homes or 32 per cent for owner-occupied residential properties will take effect for tax payable from 2024.

When fully implemented, these changes will raise Singapore's property tax revenue by about $380 million a year.



https://www.youtube.com/watch?v=Xk_zz6_E9vY&t=13s

[Bigiron]

Not effect on the rich since they afford it

[Bigiron]

This increase will impact the top 7 per cent of owner-occupied residential properties, Mr Wong said in his Budget speech.

Owner-occupied homes with an annual value of $30,000 or less, such as Housing Board flats or condominiums and landed property in suburban areas, will not be affected by the increase in property tax rates.

The final tax rates of up to 36 per cent for non-owner-occupied homes or 32 per cent for owner-occupied residential properties will take effect for tax payable from 2024.

When fully implemented, these changes will raise Singapore's property tax revenue by about $380 million a year.



https://www.youtube.com/watch?v=Xk_zz6_E9vY&t=13s

For you think about

https://youtu.be/dupDyv_OskI

[Bluebull]

Not effect on the rich since they afford it

The more money they have, the more they are calculative, stingy, money face, careful with spending, 
The more they worship money
The more they guard their money

Same to us to a extent
When I was working the first few years
I happy go lucky
Go with Friends, see what buy what, like what eat what
Durians get the most expensive, chilli crabs get the good ones
When start business and bank accounts grow, start very careful with spending
Because when you start to have money, YOU WANT YOUR MONEY TO GROW MORE
Every one of us, inside is like that
The more money you have the more conscious you are of your money

[RiseofAsia]

Don’t think so, LW already said big headache for him, besides he also hinted he doesn’t know how to do it. And second besides is if he implements it , it will affect him and all his millionaires cabinet colleagues, especially pinky .

Estate duty removal is for LKY? He had already up lorry for so long. It will be back again anytime. Don’t believe, Let shall see.

Money not enough at the of the day, still got to go back to tax the rich.This is only the beginning. Aging population is no easy matter.

[Tangsen]

Exactly what I trying to tell all those friends and relatives kena brained washed by property agents. They said hedge against inflation. But if no money to service loans, and no good rentals to cover backside, what hedge ? You will be losing more like kenna paying higher interests rates, and more loans to pay interests rates, and dig from mother’s coffin funds to pay property tax. The properties for investment by now, they should know is for the super rich. If you earning enough to just pay for your own house and living expenses, don’t dream of it.

Because property salesperson is just like car salesperson …. uneducated. If you ask a CPA accountant they will ask you did you consider, mortgage loan, stamp duties, ABSD, lawyer fees, monthly maintenance, property agents commissions & etc …. all these will eat into your gains

[Instinct]

If the annual value rises, more people will be affected. Need to see how IRAS will be adjusting the AV of which they are able to push higher.

[Sticw]

上有政策下有对策

[Tangsen]

The white greedy thieves "lau how Sui" see peasants collect rental shiok shiok …. now put another hand into your pots

[kc172021]

Those ultra rich new citizens who live overseas dun rent out their luxe properties, how garbagemen know whether iz owner occupied or not. Any way think laolen did quite a good job adjusting the tax duties so that the rich need to contribute more  and not just the poor who are burdened with higher gst.

But i think he forgot to tax the politician on their million dollars pay check. They no need to pay tax so they can suka suka increase the income tax for the top layer earners. It would not affect them at all

[Levin]

I read until blur.

Singapore got HDB value at lesser than $30k, meh?

This will impact top 7% or in fact, impact 93% of owner residential properties? 

Annual value is the estimated gross annual rent that can be collected if the property is rented out. A lot of 3-rm or smaller flats will be less than 30k annual value.

[LongXia]

Estate duty removal is for LKY? He had already up lorry for so long. It will be back again anytime. Don’t believe, Let shall see.

Money not enough at the of the day, still got to go back to tax the rich.This is only the beginning. Aging population is no easy matter.

I say Pinky aka LHL, not LKY who happened to also benefitted from the removal of estate duty. This removal of estate duty was advocated by one rich MP OCC, who later become minister of state. And he managed to win the support of all his millionaires cabinet colleagues. Look, if these ministars are not paid million dollars, and then able to buy houses etc, you think they so kind to think of removal of estate duty? Having removed, they will not put it back. It is being mentioned because several activitists advocated estate duty as a form of taxing the super rich. Now LW openly admitted he doesn’t know how to do it. Read his speech.

[WhatDoYouThink?]

aiya if properties too expensive, garment cannot sell land, developers got nothing to do, agents bankers lawyers landlords no income, rich foreigners dun want to come, garment got no money to feed ministars and the poors, so who suffer?

[Tangsen]

aiya if properties too expensive, garment cannot sell land, developers got nothing to do, agents bankers lawyers landlords no income, rich foreigners dun want to come, garment got no money to feed ministars and the poors, so who suffer?

The property bait already makan by stupiak buyers liow …. bait is cheap loan. Everyone rush rush buy buy ….. now the start reeling in by increase ABSD and now property tax. Property tax is perpetual unless you sell …. so feeding those white greedy thieves mini-stirs …. no problem one. Best those create companies to invest and rent out property … increase GST comes into play …. the white country selling thieves play you borderline buyers backside pain pain liow

[singaporean1964]

iquadrant how
ask pple to buy 10 20 properties

marko and friends have 50 properties