[Bigiron]

Wealth tax: How it could affect Singapore’s property market

Read more 📍 https://bit.ly/3GpYGyt

[sgbuffett]

I prefer a capital gains tax on residential property.
It will be unpopular by my thinking is as follows

1. Property is for living and not play a big role for investing.. We just look at misery resulting from property speculation and investing by looking at Hong Kong

2. In land scarce Singapore where land is limited, it is particularly risky...if things go out of hand investors feel is a sure win and can cause artificial scarcity by demand of property as an investment tool.

3. A capital gains tax on residential property of 20% inflation adjusted will dampen speculation and investment in property.

[Bigiron]

Capital Gains Tax

https://www.youtube.com/watch?v=sKB_FYHB9CE

wealth tax

https://www.youtube.com/watch?v=1YIhSf6oL20

https://www.youtube.com/watch?v=mnS8Ry0SPoE

[Ola]

It is difficult to track & trace capital gains.

Much easier to implement wealth tax.

Since PAP is so afraid of offending FTs, then set a time period on wealth tax.

Set a Law to tax all co- shared ( private & condo) who has one party non- Singaporean at 0.5%

Then do a Mix & Match with-

Between 8- 15 years PR status, 1%
Less than 5 years PR, 2%

[Bigiron]

https://www.youtube.com/watch?v=1YIhSf6oL20

[Bigiron]

https://www.youtube.com/watch?v=oUGpjpEGTfE

[way]

I prefer a capital gains tax on residential  property.
It will be unpopular by my thinking is as follows

1. Property is for living and not play a big role for investing.. We just look at misery resulting from property speculation and investing  by looking at Hong Kong

2. In land scarce Singapore  where land is limited, it is particularly risky...if things go out of hand investors  feel is a sure win and can cause artificial scarcity by demand of property as an investment tool.

3. A capital gains tax on residential property of 20% inflation adjusted will dampen speculation and investment in property.

Yes agreed, capital gains tax  on both property and shares ! These are the twin evil not just making the poor man life miserable with high cost of living but emptying these same ignorant people bank deposit and CPF ! 

[Oyk]

I prefer a capital gains tax on residential  property.
It will be unpopular by my thinking is as follows

1. Property is for living and not play a big role for investing.. We just look at misery resulting from property speculation and investing  by looking at Hong Kong

2. In land scarce Singapore  where land is limited, it is particularly risky...if things go out of hand investors  feel is a sure win and can cause artificial scarcity by demand of property as an investment tool.

3. A capital gains tax on residential property of 20% inflation adjusted will dampen speculation and investment in property.

Are you willing to pay CGT on the apartment you and your wife bought, if you sell it and make a profit?

[Clyde]

I prefer a capital gains tax on residential  property.
It will be unpopular by my thinking is as follows

1. Property is for living and not play a big role for investing.. We just look at misery resulting from property speculation and investing  by looking at Hong Kong

2. In land scarce Singapore  where land is limited, it is particularly risky...if things go out of hand investors  feel is a sure win and can cause artificial scarcity by demand of property as an investment tool.

3. A capital gains tax on residential property of 20% inflation adjusted will dampen speculation and investment in property.

This is not right to do it.

If a person has to resort to selling his residential property, most probably he/she might have already run into financial hardship. Every cent earn is very precious to this person. You still want the Government to tax them?

[starbugs]

Actually we can do both.

Have a higher/progressive property tax rate on luxury properties plus bring back estate duty.

Also capital gains on property esp for those using BTO HDB to churn up to private.

Small tax amounts on each of them, to diversify the tax base.

Only obstacle is that the rich folks are ones setting policy in this country. They find it "easier" to tax the poor.

[Blasterlord2]

PAP said wealth tax is difficult because the whole foundation for their survival is money. They need to work with the rich so that the rich will support them in their various projects. Then they use the projects to entice the poor to vote for them. But the poor did not realise that the projects seldom benefit them!

[Ola]

PAP said wealth tax is difficult because the whole foundation for their survival is money. They need to work with the rich so that the rich will support them in their various projects. Then they use the projects to entice the poor to vote for them. But the poor did not realise that the projects seldom benefit them!

Current Got under LHL is like Philippines under Estrada/ Arroyo 12 or 18 years ago

They also said they need support from the rich

Build a new airport

But most of their pinoys never get to use it

Then the airport became a famous White Elephant

We can only compare PAP to 3rd WORLD Country Govt.

[dynamite]

Do not dream la. There will not be wealth tax.

[Huliwang]

Do not dream la. There will not be wealth tax.

I have the same opinion. Why should PAP implement wealth tax when they themselves are they wealthy ones and most eligible for such tax? That would be like taking their own cocks to knock on their heads.......