You should be happy that I am assuming that GMS is honest in his tax returns, has some grey matter between his ears and has, as a matter of simple common sense, chosen this option.
What has it got to do with tax returns and being honest? You're trying to mislead.
I don't think you can dismiss this as common sense. In that case, nearly all self employed people in Singapore with HDB do not have common sense. You have to be the smartest.
How can it reduce your liquidity when instead of using the same money to pay cash upfront, you are instead contributing that money to CPF from which you use to pay off your mortgage??? Plus don't forget the tax reliefs you are eligible for if you do that.
Fair enough. But if someone plans to sell his flat one day and it makes sense to get back cash, then there's nothing wrong.
Most people do not lock up their cash for one simple reason. When doing business, there's no sure success forever. In the event of unfortunate, you'll end up like one of those CPF-rich starvers in the one room flats if you were to do that.
That is precisely the problem. While he did not say, he has been more than happy with the impression it has given to the gullible who are going ga-ga over his announcement through a third party that he is risking that few hundred thousand dollars (based on value of flat) for country and citizens when clearly, that is not the case.
I mean if he had come up and say, I am going to spend and may lose $30,000 of my personal savings in this coming election, would anyone have gone ga-ga? It doesn't quite have the same impact as "I am selling my flat" or create the same publicity, does it?
That no one knows. A lot of it is also your own words. But everyone knows that (returnable) election deposit is not a part of the expanded costs, yet is more expensive that the costs.