HDB rentals up 10%, but property tax up 118%? « Opinion « TR EMERITUS

I refer to the report “Property tax rebate for most HDB flat owners” (Channel NewsAsia, Nov 27).One-off rebate?

It states that “For a majority of other HDB flat types, the property tax bill for 2013 will increase by between S$40 and $50, after taking into account a new S$40 rebate.”

Why increase taxes?

Why do governments increase taxes?

Well, most governments increase taxes to balance the Budget, or because there is a need to spend more which may result in a deficit.

According to the article “Singapore tax revenue up despite economic slowdown” (Straits Times, Oct 31), “It has been a difficult period for the economy, but tax revenue continues to rise.

The Government’s operating revenue rose to $26.7 billion for the first six months of the year, beating the $25.5 billion collected in the same period last year.”

So, why is there a need to raise property taxes when overall tax revenue is up?

Since the Budget surplus was $2.3 billion last year and the net Budget surplus over the last six years was about $8.2 billion, why is there a need to increase property taxes now?

See on www.tremeritus.com

Mortgage Supermart Singapore, Loans Brokerage Solutions to bring you Savings and Smiles. about Mortgages, about Loans, about Financing.


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