22-10-2021, 10:37 AM
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Property stamp duties and inheritance – could wealth taxes in S'pore come from these?
22-10-2021, 11:10 AM
A few years ago PAP govt scrap inheritance tax ....
The justification is rich can circumvent it by creating trust and transferring the wealth before death
I find it very hard to stomach...because someone can circumvent a law the law is eliminated?
What kind of reasoning is that. I am sure there are rich people who are okay with getting taxed and having some of the assets go to state.
A better reform would be to explicitly collect inheritance taxes to fund state charities. The reason for this is some may not like the idea of these taxes going tk a common pool to fund defense, offset tax of corporations, give out tax rebate for the rich ...that is why many circumvent the inheritance tax.
The justification is rich can circumvent it by creating trust and transferring the wealth before death
I find it very hard to stomach...because someone can circumvent a law the law is eliminated?
What kind of reasoning is that. I am sure there are rich people who are okay with getting taxed and having some of the assets go to state.
A better reform would be to explicitly collect inheritance taxes to fund state charities. The reason for this is some may not like the idea of these taxes going tk a common pool to fund defense, offset tax of corporations, give out tax rebate for the rich ...that is why many circumvent the inheritance tax.
I, being poor, have only my dreams; I have spread my dreams under your feet; Tread softly because you tread on my dreams.
22-10-2021, 11:30 AM
(22-10-2021, 11:10 AM)sgbuffett Wrote: A few years ago PAP govt scrap inheritance tax ....
The justification is rich can circumvent it by creating trust and transferring the wealth before death
I find it very hard to stomach...because someone can circumvent a law the law is eliminated?
What kind of reasoning is that. I am sure there are rich people who are okay with getting taxed and having some of the assets go to state.
A better reform would be to explicitly collect inheritance taxes to fund state charities. The reason for this is some may not like the idea of these taxes going tk a common pool to fund defense, offset tax of corporations, give out tax rebate for the rich ...that is why many circumvent the inheritance tax.
I thought the main reason is that the money gained from inheritance tax is too small? I think the article mentioned that it was only 70mil.
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