Should be 30% tax on capital gains from property sales.

[hockbeng]

If the Gov is truely keen to weed out speculation in ppty; then they should be bold enough to impose a 30% capital gains tax on property sales regardless of whether it is HDB or private or it its held more than 1 year or less than 1 year.

Money made from such unproductive activity that is making the majority of singaporeans suffer should be taxed!

Once we destroy this acitivity of rampant speculation on condos/HDB etc.., those people who are property agents will be forced to be re-deployed into more productive jobs that "mine it, grow it or make it" (The true creators of wealth).
Homes will be cheaper for all and everyone can enjoy a higher disposable income which translates to a higher standard of living. Having more children will be more affordable.

It it a myth to say that lower home prices will result in lower incomes. Income levels are determined by the skills and productivity of the employee and has nothing to do with home prices.

What we need are brave people in Gov who dare to make bold but necessary moves for the future of sporeans.

Also, everyone in Gov should declare their properties owned or transacted so that there wouldn't be any conflict of interest. Anyway, that's what company directors of public listed companies have to do right?

 

[Watchman]

WTF is this ?

The Poor is asking the government to cap a discourage fee
on the Rich to prevent them from trading ?

 

[Cestbon]

30% tax no one will invest in property. Property price will drop 50% because no more speculator.

 

[Watchman]

30% tax no one will invest in property. Property price will drop 50% because no more speculator.

Wrong again . Since property is a sure win .

What is 30% , the upper strata will yet again benefit from the distinction from the being the upper survivalists .

This will herald a wider rich and poor divide !

Sometimes being poor is best to keep quiet .
One never know what one is stirring and alerting people who got the firepower and capital to initiate and motivate events when being poor one has none to move with .

 

[johnny333]

If the Gov is truely keen to weed out speculation in ppty; then they should be bold enough to impose a 30% capital gains tax on property sales ..........

Not likely to happen. The speculators are cash rich & who do you think are swimming in world class pay

 

[hockbeng]

Not likely to happen. The speculators are cash rich & who do you think are swimming in world class pay

That is why the policy makers should be transparent and declare property transactions made under their names or their family members.

Just like what public listed companies have to do to prevent insider trading.

 

[johnny333]

That is why the policy makers should be transparent and declare property transactions made under their names or their family members.

Just like what public listed companies have to do to prevent insider trading.

You expect LKY to be honest & transparent

This is the person whose whole family was involved in getting "discounts" for the HPL property affair.

Before LHL became PM, it was rumoured he sold off 20 to 30 properties before the laws to prevent speculation was enacted.

The only way the laws will change is when the famiLee is thrown out of power. Many are still waiting for that day.