ST opinion: Windfall gains from selling flats should be taxed

[Throttle2]

8 hours ago, Ct3833 said:

it is a supply and demand problem, as long as HDB does not build sufficient housing, HDB price will continue to go up. At the end of the day, the tax will be loaded into the selling price, meaning  to the buyers,  IRAS will be the sole beneficiary. Next is HDB price will move up by the tax value minimally.  HDB itself is also inducing the problem,  price of new flat continue to go up, how can the price of old flats stay flat ? 

dont believe  just look across the causeway, they have  many apartment in excess, see their property price go up  like HDB one or not. 

I believe there is enough supply.

the problem now is that people have already used HDB as a profiteering tool. 

and even worse, the agents are teaching people and psychoing honest people to do that.  
 

therefore last resort, the cane must be used on the child who doesnt listen, is not showing impriovement and furthermore led by bad company. 
 

 

 

Edited June 30, 2021 by Throttle2

[Wt_know]

10 minutes ago, Throttle2 said:

I believe there is enough supply.

the problem now is that people have already used HDB as a profiteering tool. 
 

yup .... right to the point

just like HK ... if each carpark lot in SG can flip ... it can reach $1M too 

Edited June 30, 2021 by Wt_know

[Kopites]

6 minutes ago, Wt_know said:

hdb lost $2.6B …  …. or is it  

https://www.straitstimes.com/singapore/housing/housing-programmes-see-hdbs-deficit-grow-to-266b-the-highest-so-far

sinkie should STOP buying BTO ... the more people buy BTO ... the larger the deficit ....

buy private condo ... huat ah!

The ST article got one glaring typo error.😄

"Every year, the HDB receives a grant from the Ministry of Finance to finance its deficit. This year, the grant is $2.69 billion, compared with $2.03 billion the previous year."

Ministry of finance gotten their fund from where huh??? land sales included or not..??...

(me pri 3 cracking head now  how to solve this mathematics sum)

[Beregond]

1 minute ago, Wt_know said:

hdb lost $2.6B …  …. or is it  

https://www.straitstimes.com/singapore/housing/housing-programmes-see-hdbs-deficit-grow-to-266b-the-highest-so-far

end of the day, from selling 1 flat does the gov make any money.

if the gov is making money and hdb not making money , wats the different, its within the same pool. ppl need to see this.

not saying  gov cannot make money from selling flat, if they want to change the direction, just say so, like take the chicken from u , and slowly cut off a small pcs of meat to feed u . i dun mind if they want do that tax high high and give benefit style of goving.

to put it bluntly hdb is making lost, is hypocrisy i feel.

[Throttle2]

Want to play, play private, open market.  No grants no subsidy. No one got any right to choak you.  Win or lose so be it. 
 

[Wt_know]

11 minutes ago, Throttle2 said:

Want to play, play private, open market.  No grants no subsidy. No one got any right to choak you.  Win or lose so be it. 
 

each time when you see a $1M hdb flipped ... how many dollars of your taxes paid is there with accrued interest ...  lol

Edited June 30, 2021 by Wt_know

[inlinesix]

19 minutes ago, Kopites said:

The ST article got one glaring typo error.😄

"Every year, the HDB receives a grant from the Ministry of Finance to finance its deficit. This year, the grant is $2.69 billion, compared with $2.03 billion the previous year."

Ministry of finance gotten their fund from where huh??? land sales included or not..??...

(me pri 3 cracking head now  how to solve this mathematics sum)

All land sales go straight into Reserves, unlike HK.

The grant is funded by tax dollars.

[Throttle2]

4 minutes ago, Beregond said:

end of the day, from selling 1 flat does the gov make any money.

if the gov is making money and hdb not making money , wats the different, its within the same pool. ppl need to see this.

not saying  gov cannot make money from selling flat, if they want to change the direction, just say so, like take the chicken from u , and slowly cut off a small pcs of meat to feed u . i dun mind if they want do that tax high high and give benefit style of goving.

to put it bluntly hdb is making lost, is hypocrisy i feel.

There is a huge difference.  
each one is a different entity for different purpose and should be maintained as such.

it is about Accountability.    If your brother ah sia kia go out and overspend letting nin laopei foot the bill, would you at least want some accountability so that things dont go out of hand?

the Loss which the HDB is making is real, only that it is buffered by the money from taxpayers from other things.  pointing to the bottomline which i have been making all this while.  People are directly profiteering by receiving huge grants on HDB and pocketing when they sell, at the expense of others. 
 

if you walk into a motorcar AD, and other people can buy the first few entry level cars with a huge discount, directly funded by your bonus.how would youlike it?these buyers then use the car for Grab and then sell it for high profit later at the expense of others who truly need the car to fetch their families.  While you are only allowed to buy premium model with no discount yet extra taxes just becos you breached the income ceiling.  
 

dont think like a poor man, brother, think like a fair man.

likewise dont think like a rich man brother, think like a fair man. 

 

[inlinesix]

30 minutes ago, Wt_know said:

hdb lost $2.6B …  …. or is it  

https://www.straitstimes.com/singapore/housing/housing-programmes-see-hdbs-deficit-grow-to-266b-the-highest-so-far

sinkie should STOP buying BTO ... the more people buy BTO ... the larger the deficit ....

buy private condo ... huat ah!

For land sale from SLA to HDB, how do they arrive at the value?

The so call loss is due to the difference in land value.

[Beregond]

1 minute ago, Throttle2 said:

the Loss which the HDB is making is real, only that it is buffered by the money from taxpayers from other things.  pointing to the bottomline which i have been making all this while.  People are directly profiteering by receiving huge grants on HDB and pocketing when they sell, at the expense of others. 

ya this is very true. 

but while hbd making loss, i dun believe gov not making money .its not that hard to count how much it will cost to make a flat or a block. if hdb is making a loss, then where did those money go. got to go somewhere.

[Weez911]

Covid mismanagement hence now need to tax you harder. GST next.

[DOBIEMKZ]

10 hours ago, Windwaver said:

If people stay in their first own flat for the rest of their lives, will they get interest out of it? 

 

Maybe got loyalty bonus or rebates, like 5 years of free from S&CC or 12 years of half S&CC.😁😁

[DOBIEMKZ]

Just now, DOBIEMKZ said:

Maybe got loyalty bonus or rebates, like 5 years of free from S&CC or 12 years of half S&CC.😁😁

Or maybe 10 years free of hdb season parking.😁😁

[Weez911]

Whether you like or don't like, it will come. Not just asset tax.. I think the GST increase, capital gain, inheritance tax, obesity tax, and whatever other tax u never hear before will come.

Edited June 30, 2021 by Weez911

[Throttle2]

10 minutes ago, Wt_know said:

each time when you see a $1M hdb flipped ... how many dollars of your taxes paid is there with accrued interest ...  lol

Impose a new tax.  
any hdb sold above a certain percentage of its original price will be taxed accordingly,  different tiers.  If sellers then want to raise their prices and stupid buyers are there to pay, then all good. Win win win. 
 

or grants need to be returned when hdb is sold.  Only fair since hdb is to house the public. Not for profiteering.  So if you receive a lot of grants when buying then when selling, you return the grants accordingly.  MOP raise to 10yrs.  If any hanky panky is detected, hdb to be confiscated.    Agents who try to be gurus, get their licence revoked.

Singapore will be so much better…..ah……..
 

[Throttle2]

13 minutes ago, Beregond said:

ya this is very true. 

but while hbd making loss, i dun believe gov not making money .its not that hard to count how much it will cost to make a flat or a block. if hdb is making a loss, then where did those money go. got to go somewhere.

As mentioned, its about accountability. 
If nin leo pei makes $10k per month and your ah sia kia brother takes $8k, leaving just $2k for nin lao pei, nin lao bu and yourself, you will zask nin lao pei to whack your ah sia kia brother by charging him an interest or at least making him pay, correct?.   Correct?  Correct or not?

therefore you also will want accountability.

would you say, nevermind lah, nin lao pei is making money, go to ah sia kia also family, no problem, no accountability required??

where did the money go? It goes into other parts of the public service lah.  Everything give to ah sia kia meh?

think like a fair man, bro.  Dont be blinded.  And it is not about who you vote.  Thank you

Edited June 30, 2021 by Throttle2

[Throttle2]

11 minutes ago, Weez911 said:

Whether you like or don't like, it will come. Not just asset tax.. I think the GST increase, capital gain, inheritance tax, obesity tax, and whatever other tax u never hear before will come.

Better buy watches.  Give each child, 20 - 30 Rolexes. Ok liao lah….  Inflation proof too. Muayhahaha

[inlinesix]

13 minutes ago, Throttle2 said:

Impose a new tax.  
any hdb sold above a certain percentage of its original price will be taxed accordingly,  different tiers.  If sellers then want to raise their prices and stupid buyers are there to pay, then all good. Win win win. 
 

or grants need to be returned when hdb is sold.  Only fair since hdb is to house the public. Not for profiteering.  So if you receive a lot of grants when buying then when selling, you return the grants accordingly.  MOP raise to 10yrs.  If any hanky panky is detected, hdb to be confiscated.    Agents who try to be gurus, get their licence revoked.

Singapore will be so much better…..ah……..
 

Just mandate that to be sold back to HDB.

That will remove all profiteering.