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?
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