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

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Old 13-02-2018, 05:51 PM   #16
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Why not? That S Pass holder is extremely unlikely to recover his/her PR status in the future, but that person (and his/her employer) is going to pay some taxes, mostly to benefit Singaporean citizens. That's a great deal for Singapore, actually. It's not the smartest move for the ex-PR.

There really aren't very many PRs who are not living in Singaporean citizen households and who have at least 3 years of residence in Singapore. PRs just aren't buying many HDB units, and 100% of the few units they buy were first owned by Singaporean citizens who were paid market rates. That's a great deal for Singaporeans, truly.
Ban the SPass from working again in Singapore
Job can go to a singaporean
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Old 13-02-2018, 05:59 PM   #17
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Making money from HDB is a right for Singaporean, especially those who have done NS. PRs did not do NS. If they don't want to make Singapore their home, then the money they make from subsidised HDB should be taxed.

HDB should not be used for making profit in the first place regardless of whether u are SG citizen or PR. Making money from hDB is a 'right' for Singaporean?? Really cannot agree on this point. Being citizen only gives u voting rights. However, taxing capital gains when PR who sells flats and subsequently returns home is a good way to prevent HDB prices from going up further. That would also mean Singaporeans cannot make money from selling their btos because no one would be buying from them.
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Old 13-02-2018, 06:00 PM   #18
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Ban the SPass from working again in Singapore
Job can go to a singaporean
The job has to go to a Singaporean first, already. That's what Jobs Bank, quotas, and the foreign worker levies are for.

If those hurdles are cleared, why not? Singapore collects more tax, and those taxes go straight to Singaporeans (almost entirely). This ex-PR will never be able to enjoy the bulk of government services. He/she must retire (and consume the government services that the elderly consume) elsewhere. It's pure profit for Singapore, to the benefit of Singaporean citizens.

Great deal! The idiot voluntarily demoted himself, and then he wants to pay Singapore for the "privilege" of working on an S Pass? Sure, why not?
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Old 13-02-2018, 06:04 PM   #19
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However, taxing capital gains when PR who sells flats and subsequently returns home is a good way to prevent HDB prices from going up further. That would also mean Singaporeans cannot make money from selling their btos because no one would be buying from them.
Yes, exactly. If you want to harm Singaporean citizens, then that's easy: reduce the already limited market sale opportunities for their 5+ year old BTOs. PRs won't really be harmed much, but Singaporeans will be.

(Not smart.)
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Old 13-02-2018, 06:36 PM   #20
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Ban the SPass from working again in Singapore
Job can go to a singaporean
He was a PR. Renounced PR and gotten a S Pass.

I would say ban this foreigner.
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Old 13-02-2018, 06:43 PM   #21
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The job has to go to a Singaporean first, already. That's what Jobs Bank, quotas, and the foreign worker levies are for.

If those hurdles are cleared, why not? Singapore collects more tax, and those taxes go straight to Singaporeans (almost entirely). This ex-PR will never be able to enjoy the bulk of government services. He/she must retire (and consume the government services that the elderly consume) elsewhere. It's pure profit for Singapore, to the benefit of Singaporean citizens.

Great deal! The idiot voluntarily demoted himself, and then he wants to pay Singapore for the "privilege" of working on an S Pass? Sure, why not?
You can give the pass to some other potential foreigners. Why must give to an ex PR who had sold and withdrew all his assets here.

The number is still the same. But why an ex PR?
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Old 13-02-2018, 06:54 PM   #22
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You can give the pass to some other potential foreigners. Why must give to an ex PR who had sold and withdrew all his assets here.
There's no obligation to do so, of course, but he/she is a known entity, already familiar with Singapore, likely adapted and acclimated to a reasonable degree, well behaved (hasn't been tossed in prison), well vetted (the government doesn't have to spend much effort on that again, which saves some public money), and thus that much more likely to contribute into the government's coffers...and to support Singaporean citizens that much more reliably.

It's a great deal for Singapore, assuming he/she clears the standard hurdles anybody else would need to clear. Which is not a given.

One really ought to be unemotional about this. If this idiot can be taxed, great, collect his/her tax money (and the foreign worker levies)...and then kick him/her out on schedule to retire elsewhere and potentially burden some other government.
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Old 13-02-2018, 06:55 PM   #23
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You can give the pass to some other potential foreigners. Why must give to an ex PR who had sold and withdrew all his assets here.

The number is still the same. But why an ex PR?
Ex PR might not have renounced on his accord. Could be due to other reasons like went overseas for further studies and decided to stay there for a couple of years before returning. Why cannot come back and apply again?
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Old 13-02-2018, 07:02 PM   #24
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Ex PR might not have renounced on his accord.
Well, renunciation (or PR abandonment) is voluntary, but there might have been extenuating circumstances. Another example: maybe he/she felt compelled to care for an elderly parent outside Singapore.

Regardless, if one is cold and calculating about this (as the government should be), it's perfectly fine if this ex-PR wants to try to clear standard hurdles to get an S Pass, be a significant net contributor to Singapore and to its citizens' well being (which S Pass holders and their employers must be), and then get kicked out. It's almost certainly a "dumb" move for the ex-PR, and I imagine the government is quite pleased to tax the "dumb."
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Old 13-02-2018, 07:05 PM   #25
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Ex PR might not have renounced on his accord. Could be due to other reasons like went overseas for further studies and decided to stay there for a couple of years before returning. Why cannot come back and apply again?
lol There is only 1 reason why PR renounced their PR.
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Old 13-02-2018, 07:11 PM   #26
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I have personally seen a friend who sold HDB and renounced PR, went back to home country. And still managed to apply for S Pass 1 year later.
Did he/she also pull out of CPF? That's great for the government, too: no more above market interest to pay to that ex-PR. Any SRS contributions? Good news for the government again: foreigners typically don't do as well with SRS....

....And this ex-PR opened up another spot for a new PR who is much more likely to become a citizen of Singapore, and that much sooner. Good news for the government again.

Citizens ought to be hugging and kissing this idiot.
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Old 13-02-2018, 07:12 PM   #27
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lol There is only 1 reason why PR renounced their PR.
Something involving a Y chromosome donation, perhaps?
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Old 13-02-2018, 07:35 PM   #28
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Did he/she also pull out of CPF? That's great for the government, too: no more above market interest to pay to that ex-PR. Any SRS contributions? Good news for the government again: foreigners typically don't do as well with SRS....

....And this ex-PR opened up another spot for a new PR who is much more likely to become a citizen of Singapore, and that much sooner. Good news for the government again.

Citizens ought to be hugging and kissing this idiot.
Not everyone views CPF as so positive like you.

If you view CPF as positive, then withdrawal is a negative view.

If you view CPF as negative, then withdrawal is a positive view.

There are always 2 sides to a coin.

If a PR withdrew, yes it's an empty spot for another foreigner who could potentially settle down in Singapore on a permanent basis.
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Old 13-02-2018, 07:54 PM   #29
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Not everyone views CPF as so positive like you.
There's no value assessment required here. It's just simple math. If this ex-PR withdrew his/her funds from CPF, then the government isn't paying that ex-PR any above market interest. That's good news for the government, unambiguously.

I really have no idea why you're beating up on this friend or acquaintance. He or she is now financially supporting you, most directly. What's not to like?

Now, as a separate matter, if general rules for S Pass (and other pass and permit) applicants ought to be changed, OK, fine. But if this idiot managed to qualify for an S Pass under the same rules as every other foreign applicant, great, uncork the champagne! ("Uh, you want to pay citizens more than if you had just kept your PR status? Well, OK, then! Sign here!") Let's be happy with the tax and foreign worker levy revenues from this guy/gal. He/she will be a net contributor and will financially support citizens -- with extremely high probability, because that's what S Pass holders must do, by design. And that's lovely.
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Old 14-02-2018, 07:06 AM   #30
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He was a PR. Renounced PR and gotten a S Pass.

I would say ban this foreigner.
There are S pass holders who bully singaporeans in the workplace. Can ban them too?
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