PAP: Raising HDB Tax is to Help u...

[louisoh]

Nov 23, 2009
Hiked to avoid bigger rise

THE property tax of HDB flats is being raised next year partly to avoid having to introduce a bigger increase later should home prices continue to rise, said Acting Minister for Information, Communications and the Arts Lui Tuck Yew.

He gave the reason on Sunday, after being asked at a dialogue with Aljunied-Hougang residents whether the Government could delay it, as the recession has just started to ease.

Noting that the adjustment had been delayed once, Rear-Admiral (NS) Lui said: 'The problem is, the longer you defer it, the larger the increase will be...if HDB prices continue to go up.'

He also pointed out that the Government is taking steps to soften the impact of the tax rise early next year. It is giving HDB homeowners a one-off rebate, set at 50per cent of the property tax payable and capped at $120. This means low-income families with homes whose property tax is $50 and less will not have to pay any such tax next year.

The property tax rate is 10 per cent of a property's annual value, although homes that are owner-occupied enjoy a concessionary 4 per cent tax rate. The annual value has increased with rising property prices.

HDB resale prices have risen a hefty 31.2per cent in the past two years, and a further 3.8per cent in the first nine months of this year.



Can we say tks but no tks... we dun need ur help?

[exxondus]

haha, they always say like this de.

Last time bus fare hike also say in prep for next hike so that next hike wont be that high...soften the impact.

what they are saying is, it will go up no matter wat! so take it now or leave it.

but imagine this hor.

e.g
2009 increase 10 cents per mth
2010 increase 20 cents per mth

so for 2009, we lost like 10 cents per month and come 2010, we are losing 20 cents per month.

Means to soften the hike, they actually earn a total of 10 cents per month for 2009 as compared to only earning in 2010 when the hike is 20 cents.

Since either way its gg to hike, why they help us to lose 1 whole year of money in the first place?

[pet]

wow, not cheap leow leh.... if u stay 5 room, thn own 2 vehicles ( say a private car or even commercial vehicle for yr work use ), u got to pay at least 250+ leow....

if u stay private, with lotsa facilities.. car park free, u pay abt 300 nia

[Watcha]

To help companies, pay must also rise now.

This is to help to soften impact in future for companies or their annual report will have a sudden hike in expenses and will have to answer to shareholders.

This is also to further enhance the low impact strategy by widening coverage. As pay increments for the few selected elites proves to be insignificant which can be seen from the detachment to results.