HWZ Forums

Login Register FAQ Mark Forums Read

Tax suggestion: impose capital gains tax on HDB gains when PR sells HDB

Like Tree5Likes
Reply
 
LinkBack Thread Tools
Old 14-02-2018, 05:14 PM   #46
Supremacy Member
 
Join Date: Mar 2004
Posts: 9,008
This one will penalty Singaporean deep deep and let PR escape as they can withdrawn all CPF and go home.
But I concur with TS suggestion that PRs should pay capital gain tax. For sinkies, all sale proceeds should go into cpf.
henrylbh is offline   Reply With Quote
Old 14-02-2018, 05:29 PM   #47
Arch-Supremacy Member
 
windwaver's Avatar
 
Join Date: Apr 2000
Posts: 21,120
My ex Malaysian boss sold his 3rm flat (bought pretty early) and retire back home at the age of 40. I guess most of his retirement fund came from the flat.
windwaver is offline   Reply With Quote
Old 14-02-2018, 05:40 PM   #48
Supremacy Member
 
Join Date: Mar 2004
Posts: 9,008
Our ministars still sleeping.
henrylbh is offline   Reply With Quote
Old 14-02-2018, 05:49 PM   #49
Arch-Supremacy Member
 
yyhwin's Avatar
 
Join Date: Jul 2006
Posts: 18,371
3 room flat can retire in Malaysia? Are you kidding me?
Do you know how high is the living expenses in Malaysia right now?

My ex Malaysian boss sold his 3rm flat (bought pretty early) and retire back home at the age of 40. I guess most of his retirement fund came from the flat.
__________________
十余载苦功,终于日有所成,喜哉哀哉?
yyhwin is online now   Reply With Quote
Old 14-02-2018, 05:54 PM   #50
Master Member
 
Join Date: Jun 2010
Posts: 4,315
But I concur with TS suggestion that PRs should pay capital gain tax. For sinkies, all sale proceeds should go into cpf.
i agree...hdb should b meant for SC only.PR if wan buy should pay more than wad SC is paying.

if PR sell their flat, tax on capital gain

i m in for pro-rate sale proceeds to CPF
pcmdan is offline   Reply With Quote
Old 14-02-2018, 05:58 PM   #51
Arch-Supremacy Member
 
yyhwin's Avatar
 
Join Date: Jul 2006
Posts: 18,371
PR should be banned from buying HDB lor!

i agree...hdb should b meant for SC only.PR if wan buy should pay more than wad SC is paying.

if PR sell their flat, tax on capital gain

i m in for pro-rate sale proceeds to CPF
__________________
十余载苦功,终于日有所成,喜哉哀哉?
yyhwin is online now   Reply With Quote
Old 14-02-2018, 06:01 PM   #52
Master Member
 
Join Date: Jun 2010
Posts: 4,315
PR should be banned from buying HDB lor!
that would b ideal...but if ban. alot of empty hdb wor...

Is quite unfair for the PR to enjoy both countries benefits and earn big sum of $$ from our HDB....

HDB Caring
HDB understands the concerns and needs of Singaporeans.

HDB will always cater for the housing needs of Singaporeans and understand your concerns.

Dont know since when and why they allow PR to buy...really dont understand

Last edited by pcmdan; 14-02-2018 at 06:05 PM..
pcmdan is offline   Reply With Quote
Old 14-02-2018, 06:01 PM   #53
Arch-Supremacy Member
 
yyhwin's Avatar
 
Join Date: Jul 2006
Posts: 18,371
Short term pain, long term gain.

that would b ideal...but if ban. alot of empty hdb wor...
__________________
十余载苦功,终于日有所成,喜哉哀哉?
yyhwin is online now   Reply With Quote
Old 14-02-2018, 06:04 PM   #54
Master Member
 
Join Date: Jun 2010
Posts: 4,315
Short term pain, long term gain.
got wad thing pain and gain?

Anyway i mean if alot of empty,the building will be kinda spooky haha
pcmdan is offline   Reply With Quote
Old 14-02-2018, 06:17 PM   #55
Member
 
Join Date: Aug 2009
Posts: 174
PRs bought at re-sale (i.e. market, i.e. non-subsidized) prices and have to pay ABSD. How much more do you think these old HDBs can increase in price, to make a capital gains tax relevant?
di_andrei is offline   Reply With Quote
Old 14-02-2018, 06:23 PM   #56
Master Member
 
Join Date: Jun 2010
Posts: 4,315
PRs bought at re-sale (i.e. market, i.e. non-subsidized) prices and have to pay ABSD. How much more do you think these old HDBs can increase in price, to make a capital gains tax relevant?
ABSD is just 5%.

Anyway, based on ur logic, if these old HDBs cant increase in price, capital gain will not occur so dont have to fear already.

Just put in there, just in case there is an increase lo.
pcmdan is offline   Reply With Quote
Old 14-02-2018, 08:10 PM   #57
Senior Member
 
revhappy's Avatar
 
Join Date: Mar 2012
Posts: 1,632
This is like beating a dead horse really. PRs are not being given out in huge number these days. It is about 30k a year. Out of that most of them are like kids of PR parents, spouses of PRs and citizens etc. Also PRs are not being given to the well paid/ rich etc. It is being given based on certain adaptability criteria and mostly to youngsters. So PRs buying up HDB and making money and selling for profit is so 2008.

Sent from Xiaomi REDMI NOTE 4 using GAGT
revhappy is online now   Reply With Quote
Old 14-02-2018, 08:41 PM   #58
Senior Member
 
Join Date: Sep 2016
Posts: 534
Dont allow them to buy how to collect tax.
sg_investor is offline   Reply With Quote
Old 14-02-2018, 08:54 PM   #59
Master Member
 
Join Date: Jun 2010
Posts: 3,343
PRs are not being given out in huge number these days.
Exactly. And roughly 2/3rds of that PR trickle progresses to citizenship (and the privileges of citizenship), which is absolutely essential because there just aren't enough Singaporean babies. A 1.2 birth rate is national death otherwise, literally.

So what if PRs can buy HDB resale units, with ABSD (tax), and with almost zero ability to rent those units (unlike citizens). Every dollar PRs use to buy those resale units goes straight into the pockets of citizens, enriching citizens very nicely indeed. It's a great system...for citizens. Cut off those few PR buyers and it's citizens who suffer, not PRs.

This one will penalty Singaporean deep deep and let PR escape as they can withdrawn all CPF and go home.
No, they cannot. Both citizens and PRs must terminate their statuses in Singapore in order to be eligible to withdraw CPF funds. Both citizens and PRs have the ability to do that -- there's no difference here. Citizens terminate their Singaporean citizenships, and PRs terminate their Singaporean Permanent Residence. Both can "escape," if they wish.

Singaporeans can acquire other citizenships really quite easily if they wish. That's not a particular obstacle if a Singaporean wants to "escape."
BBCWatcher is offline   Reply With Quote
Old 14-02-2018, 09:02 PM   #60
Master Member
 
Join Date: Jun 2010
Posts: 4,315
Dont allow them to buy how to collect tax.
For those that alr owned one

Every $ PR spent goes straight to those that sell their flat...not everyone sells. And that is why hdb keep going up in prices.

1. Hdb shouldn't even be pegged to market
2. It should be affordable
3. Hdb should be only be able to sell between SC
4. Short term alot of pain for existing hdb owner and see their house value drop...but long term is good for their descendents

Last edited by pcmdan; 14-02-2018 at 09:06 PM..
pcmdan is offline   Reply With Quote
Reply
Important Forum Advisory Note
This forum is moderated by volunteer moderators who will react only to members' feedback on posts. Moderators are not employees or representatives of HWZ. Forum members and moderators are responsible for their own posts.

Please refer to our Terms of Service for more information.


Thread Tools

Posting Rules

Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are On