No ABSD for big corporations

I can’t believe the heinous act committed by the incumbent pap to its feeble voters. abuse its citizens with absd, sd etcs, but for the rich and loaded, they are untouchable. the culprits that actually cook up property prices are given special preference treatment – reduced tax rate, but the innocent general public are abused to the maximum by the powers of their authority.

What a shame PAP!

[ LINK ]

 

Boon Koon

 

 

Sponsored Content

11 Responses to “No ABSD for big corporations”

  • Not the Full Picture:

    Many individual day traders buy and sell shares on stock exchange, make gains that are theoretically taxable. How many day traders do you know who pay tax on such gains?

    If companies do such things, do you know most companies would not be able to avoid paying taxes?

    So quick to point out the benefits others have, did we look in our own backyard to find benefits individuals have that corporations don’t?

    Don’t throw stones at others’ homes if you live in a glass house.

    GD Star Rating
    loading...
  • Spurm:

    You guys Top in Maths and Science.
    But i not sure if you all manage to notice that
    Everything in SG in the last 50 years, everyday for everything is regarded as Boh Bian by the sunkies.

    So, of course this situation is not surprising.

    GD Star Rating
    loading...
  • Dont trust PAP, Lawrence Wong:

    There are 2 sets of laws, one for ordinary people and one for the rich and companies.
    The ABSD, QC, etc are for show only.
    Property companies are still bidding high prices for land. If they are unable to sell by the QC period, do bulk sales and purchases among themselves, at a “market discount”.
    The ordinary people pay the high market price if they can afford to get bank loan.
    PAP is happy as resale HDB prices stay high, and HDB can price its new flats high – a new 5 room flat in Clementi costs over $500,000!
    The rich like Wee Cho Yaw, CityDev hog land and completed units and wait for the next price run up.
    The government helps them by reducing land sale now. HDB is building fewer flats despite strong demand and huge immigration and conversion to Singaporeans and PRs.
    Resale private property price has been going up for several months.
    Is Lawrence Wong trying to encourage property investors and speculators to buy and 3 years later to sell without incurring the SSD, to help the property developers like CityDev, Capitaland, Keppeland sell, and to make the market more vibrant and price rise – The former MND Minister Lim Hng Kiang, Mah’s predecessor, ever said something like some speculation is good for the market when the property prices were running up like crazy before the Asian financial crises, and then came Mah Bow Tan, Khaw Boon Wan with his deputy Tan Chuan Jin (who alluded $900,000 for a new 5 room flat is “fair”), and Lawrence Wong who would “shake up” the market and pre-empt any price drop in the pretext or event of Fed rate hikes. If price drops, he will stop land sale like Mah, if price ups, he would warn that interest rate is going up, be careful of increasing mortgage payment, not unlike Mah who in 2009 -2011 said there are hell lot of condo in the pipeline – 30,000 units – what happened next is the rich like LHL, GCT are laughing to the bank, and of course the banks are laughing with them as people take huge loan to buy a house.

    GD Star Rating
    loading...
  • l'ingenieur:

    Why should the peasantry be allowed to partake in speculation?

    GD Star Rating
    loading...
  • What a daft says...:

    Not the Full Picture:
    Many individual day traders buy and sell shares on stock exchange, make gains that are theoretically taxable. How many day traders do you know who pay tax on such gains?

    If companies do such things, do you know most companies would not be able to avoid paying taxes?

    So quick to point out the benefits…..

    A company produces good and services, invest with capital, uses labour inputs and takes advantages of favourable business environment of the host country to procure profits by selling their products in the host country. A day trader doesn’t produce any material goods. His profits are his just as the losses. If he doesn’t trade in SG he can trade in anywhere in the world.

    By all means, try and tax all the retail and small time investors in SGX…haha!

    GD Star Rating
    loading...
  • oxygen:

    @ l’ingenieur,

    I STRONGLY AGREE WITH YOU that peasantry SHOULD NOT be allowed to partake in speculation because it is gambling with money they can’t afford to lose.

    The downside risk to your proposition of restricting speculation to the rich is this – WHO DARES DIE BIG – and we saw the biggest losses at the top end of the property market, notably in Sentosa Cove and district 9 Orchard Road apartments.

    l'ingenieur: Why should the peasantry be allowed to partake in speculation?

    No banquet lasts forever of speculation. When that suddenly comes, nobody could bet on certainty. Who comes to clean the dishes when the party is over? It is the owners of HUGE PRIME PROPERTY underwater mortgages!

    GD Star Rating
    loading...
  • KNN:

    Silly Sinkies… hey fuckers, don’t you know that you can also setup $2 company and do the same thing??? But this is only for private properties — condos, landed properties, commercial properties horrr (HDB & new Exec Condos cannot). Same laws as for the rich PAPpy fuckers — they also cannot use this stunt for HDB or new Exec Condos.

    And how many times must I tell you fuckers haarr, Singapore doesn’t have capital gains taxes — you don’t need to pay any taxes for profits on stocks, bonds, forex or even properties (the seller’s stamp duty is not a capital gains tax).

    Not the Full Picture:
    March 14, 2017 at 11:34 pm

    Many individual day traders buy and sell shares on stock exchange, make gains that are theoretically taxable. How many day traders do you know who pay tax on such gains?

    BTW, capital gains taxes isn’t always a bad thing. If you have capital gains tax, there will also be something called tax loss harvesting & tax loss carry forward. Basically losses can be used to reduce taxes on profits for previous year as well as future years. But this will make paying income tax much more complicated & accountants very happy. That’s why all along PAPies don’t want to have capital gains tax in Singapore (and also becoz PAPies have lots of stocks & properties too).

    GD Star Rating
    loading...
  • gave up:

    oppositiion parties who keep screaming for prices to come down only benefits the rich even more .. they can buy more and be richer and richer… who suffer? the really poor people dont care about property prices they only one a roof over their heads .. cause so poor even if u tell them hdb is at $100k or $200k also cannot afford .. the people who keep screaming that property prices are too high are those waiting to buy or missed buying or sold and cannot buy back cheaper …

    GD Star Rating
    loading...
  • LIONS:

    To “NOT THE FULL PICTURE”

    Hey,trouble with folks like you is that you,yourselves,DO NOT HAVE THE FULL POCTURE instead!

    How MANY DAY TRADERS are forced to eke out a meagre living orecisely becos THEY HAVE BEEN MADE JOBLESS in their DECENT JOBS THAT PAID DECENT INCOMES PLUS BENEFITS like MEDICAL INSURANCE?

    So,IF DAY TRADERS MUST BE “taxed” IF THEY MAKE SOME SMALLISH PROFITS,WOULD YOU SUGGEST ALSO THAT THEY GET A TAX “CREDIT” / REFUND from the PAST TAXES THEY HAVE BEEN PAYING WHEN THEY WERE GAINFULLY EMPLOYED much like how companies are enjoying?

    Most day-traders/scalpers LOSE MONEY ANYWAY?!
    The ones who make money are usually THE SUPER-RICH themselves as they have privileged ibfirmation(even insider info) n who are able to withstand BUG ERRATIC SWINGS?

    Sir,if you must criticise,PLS BE FAIR N CONSTRUCTIVE,ok?

    GD Star Rating
    loading...
  • oxygen:

    @ Gave up

    FLAWED ASSERTION THERE in self-contradiction. Except for business tycoons and natural (or unnatural) aristo-RATS from the corruption infested political jungle, only a very small proportion of even high income earners outside this excluded class can think of two mortgages. Most are already hard pressed with just financing one expensive mortgage in their life-time even if they bought at the bottom of the price cycle.

    So it is FANTASY DREAMING that if prices come down, it benefits the rich even more (presumably they buy another property). If property price comes down and they bought at the top or near the top, they are struggling to keep and paying down their existing mortgage, WHERE GOT MONEY TO BUY ANOTHER PROPERTY UNLESS THEY GOT SIDELINED BUSINESS IN GEYLANG working over-time!! Ha ha ha.

    If they do, I did say GOOD LUCK to them, they might trap with another mortgage underwater. They might have to get their underaged daughters (if any) to work alongside them in Geylang too!!

    Where got such things of utopia of buyiong “cheap” property and win every round at the bottom end of every market cycle? They must be clairvoyant or selected for blessing from DIVINE in Heaven!!

    gave up: oppositiion parties who keep screaming for prices to come down only benefits the rich even more .. they can buy more and be richer and richer… who suffer? the really poor people dont care about property prices they only one a roof over their heads .. cause so poor even if u tell them hdb is at $100k or $200k also cannot afford .. the people who keep screaming that property prices are too high are those waiting to buy or missed buying or sold and cannot buy back cheaper …

    It is a fallacy to think that those screaming property prices too high are waiting to buy or missed buying or sold and cannot buy back cheaper. How many of those who lost their underwear and something else too dare jump into the property market blind again?

    The reality is that those who lost heavily in property speculation MADE THEIR MONEY ESLEWHERE, otherwise where got money to lose so massively in Sentosa Cove or other waterfront properties WITHOUT GONG BANKRUPT. Otherwise, they would be bankrupt or living hand to mouth now.

    And if there are exception to the majority and reality, and some lucky one made it good with second property after prices got “cheaper”, WHY ENVY THEM?? I don’t comprehend!!

    The reality is this – CHEAPER PROPERTY PRICES MAKES LIVE BEARABLE FOR THE OVERWHELMING MAJORITY OF PEASANTS who just needs one roof over the head. Too much to ask to empathize with this lot??

    GD Star Rating
    loading...
  • oxygen:

    MORE BAD NEWS on the property front – the Fed is behind the curve. Yellen continue to warn of more interest rate hike ahead. And in the meantime, US mortgage rate has picked up almost immediately. The expectation now is that mortgage rate in US is trending up for the rest of this year undercutting consumption spending and the US recovery this year.

    And MORTGAGE RATE in US is ALREADY TRACKING HIGHER. The expectation is that mortgage rate in US will trend higher for the rest of this year.

    http://www.marketwatch.com/story/mortgage-rates-jump-as-economy-revs-up-2017-03-16

    Bond market king, Jeffrey Gundlach’s warning of 9 November 2016 of falling bond prices ( higher interest rate) is correct – the date which Trump won the election. The Fed is CLEARLY BEHIND THE CURVE of upward adjustment of interest rate.

    Both HK and China have raised their borrowing rates today.

    MORE BAD SIGNS AHEAD after the Fed interest rate hike – both HK & China raised their interest rate.
    People’s Bank of China Raises Borrowing Costs in Step With Fed

    https://www.bloomberg.com/news/articles/2017-03-16/pboc-hikes-reverse-repo-interest-rates-for-second-time-this-year

    Hong Kong too.

    http://www.kitco.com/news/2017-03-15/UPDATE-2-Hong-Kong-c-bank-raises-interest-rates-after-Fed-move-shares-jump.html

    Sinkieland won’t be immune to interest rate hikes forward.

    GD Star Rating
    loading...

Leave a Reply

 characters available


SPONSORED CONTENT


Member Services
Members LoginSelf-ClassifiedsSelf-Support
Sponsored Advertisement

Search On TR Emeritus
Sponsored Advertisement











Most Recent Comments
  • PAP has the mandate: It is well known the pedophiles are heading to Stinkapore and south east asian, only gong gong,...
  • Bitter Gourd: 70% still believe PAP is a good govt. By next GE,perhaps could pshyco another 15% to 20% to join in to...
  • pakuqaz: guys just ignore those basted ACLS and lawyers. ballless MF.
  • 苏珊: No Means .能成为人民解放军一员,为党效力,尽忠职守,非常光荣。臭小子 不识趣。他的损失。 Cynical Investor: Hehehe. At this rate serving NS would...
  • wownoob: Singapore is included in the list of countries la…2nd page first entry…
  • 苏珊: 你很有空 ? 三叔: 突然间变得好喜欢你!
  • Limbo Rock: Nothing further from the truth. Could be TRump telling LHL to buy their F-35 or they send AY back....
  • RDB: Many a Singaporean adult focused mostly or even only on Amos Yee’s expletive “F…” they...
  • Very free lawyer associations: If Reason is on ur side, be Forgiving. If Justice is on ur side, be Humble. The...
Announcement
Support TR Emeritus
Support TR Emeritus:
Other Amount:
Advertisement
Advertisement
Free Classifieds
  • Sample of a Premium 4 Ad

    . This ia a sample of how a Premium 4 Ad (can upl...
    [Read more]

  • Enjoy stunning views at half the rental rates

    Now Starting at just $3.60 psf per month, we have ...
    [Read more]

Readers Statistic
Latest Statistic