Police and Fire departments should ignore requests for help by REIT (SGX listed) managers pertaining to the property burglary or fire.
This is because REITS, unlike other companies and SMEs, in general do NOT pay any income taxes on the profits they make.
E.g. (u can see the same paragraph on most REIT manager websites):
"Taxable income distributions made by Real Estate Investment Trusts ("REITs") listed on the Singapore Exchange to individuals, whether foreign or local, are tax exempt except where such distribution is derived by the individuals through a partnership in Singapore or from the carrying on of a trade, business or profession." https://www.keppelreit.com/investor-relations/tax-refund/
Thus, they do not deserve to be rendered any help by Fire or Police resources, because they essentially don't pay much (if any) corporate income taxes at all.
It is a big abnormality that whilst the government says that regressive taxes like GST need to be increased, SGX listed REITs do not pay any income taxes despite billions in market capitalisation and charging stratospheric rents.
Maybe PAP government has too many tycoon friends in the property sector, so in order to inflate all property prices, PAP government makes REITs income tax free for most cases.
Actually, those REITs, like other commercial properties are even paying totally peanut taxes, considering that the property tax for a residential property could well be up to 36% of the annual value but for commercial properties, it is only 10% of AV p.a..
No wonder PM Lee seemed to flip flop about GST according to internet chatter whereby he said in Sept 2015 that "Profligate spending and irresponsible unsustainable plans. That is what will hurt and require you to raise taxes including the GST", then 8 months later U turn and in May2016, say "from time to time the country will need to spend more... and if revenue are not enough, it will have no choice but to raise taxes":
So PAP should please stop artificially inflating the property price bubble, just to advantage the property tycoons. And please stop subsidizing rich people and REIT shareholders, at the expense of society at large with GSTBand other regressive taxes, which will surely destroy the social compact that Singapore has, as the rich are advantages much more than the poor now.
PS: other examples of bullying the poor are in the deceptive denial that public housing buyers are taxed by paying for HDB used land, because this tax was previously paid by farmer parents whose land was confiscated by PAP government and not compensated for it, yet market value is extorted from HDB flat buyers, for land defended for peanut salary during NS, and confiscated from citizens when PAP first came to power in 1959 etc onwards.
Meanwhile, companies like Far East holdings amongst others are holding freehold land titles of 99year leasehold condos like The Shore, https://www.todayonline.com/singapo...hold-land-face-extra-poser-seeking-collective totally tax free, so in this sense, PAP ministers are deeply in the pockets of the rich and being their sock puppets also.
Other evidence of loopholes in Singapore property tax laws include being unable to tax freehold land because it isn't tenantable etc (unable to determine annual value accurately), imho: https://coconuts.co/singapore/news/...pore-that-you-cant-actually-build-a-house-on/
This is because REITS, unlike other companies and SMEs, in general do NOT pay any income taxes on the profits they make.
E.g. (u can see the same paragraph on most REIT manager websites):
"Taxable income distributions made by Real Estate Investment Trusts ("REITs") listed on the Singapore Exchange to individuals, whether foreign or local, are tax exempt except where such distribution is derived by the individuals through a partnership in Singapore or from the carrying on of a trade, business or profession." https://www.keppelreit.com/investor-relations/tax-refund/
Thus, they do not deserve to be rendered any help by Fire or Police resources, because they essentially don't pay much (if any) corporate income taxes at all.
It is a big abnormality that whilst the government says that regressive taxes like GST need to be increased, SGX listed REITs do not pay any income taxes despite billions in market capitalisation and charging stratospheric rents.
Maybe PAP government has too many tycoon friends in the property sector, so in order to inflate all property prices, PAP government makes REITs income tax free for most cases.
Actually, those REITs, like other commercial properties are even paying totally peanut taxes, considering that the property tax for a residential property could well be up to 36% of the annual value but for commercial properties, it is only 10% of AV p.a..
No wonder PM Lee seemed to flip flop about GST according to internet chatter whereby he said in Sept 2015 that "Profligate spending and irresponsible unsustainable plans. That is what will hurt and require you to raise taxes including the GST", then 8 months later U turn and in May2016, say "from time to time the country will need to spend more... and if revenue are not enough, it will have no choice but to raise taxes":
So PAP should please stop artificially inflating the property price bubble, just to advantage the property tycoons. And please stop subsidizing rich people and REIT shareholders, at the expense of society at large with GSTBand other regressive taxes, which will surely destroy the social compact that Singapore has, as the rich are advantages much more than the poor now.
PS: other examples of bullying the poor are in the deceptive denial that public housing buyers are taxed by paying for HDB used land, because this tax was previously paid by farmer parents whose land was confiscated by PAP government and not compensated for it, yet market value is extorted from HDB flat buyers, for land defended for peanut salary during NS, and confiscated from citizens when PAP first came to power in 1959 etc onwards.
Meanwhile, companies like Far East holdings amongst others are holding freehold land titles of 99year leasehold condos like The Shore, https://www.todayonline.com/singapo...hold-land-face-extra-poser-seeking-collective totally tax free, so in this sense, PAP ministers are deeply in the pockets of the rich and being their sock puppets also.
Other evidence of loopholes in Singapore property tax laws include being unable to tax freehold land because it isn't tenantable etc (unable to determine annual value accurately), imho: https://coconuts.co/singapore/news/...pore-that-you-cant-actually-build-a-house-on/
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