28 Feb '13, 11pm

Budget with changes in the right direction.....several years late! #OpPopulation

I will end up paying more in property tax with the introduction of progressive property taxes. This is another move in the right direction to tax Singaporeans who are wealthier to fund social spending. Many Singaporeans, like myself, benefited from the rise in housing values seeing our wealth in the form of property double in the last few years. The problem with this measure is there are many retirees and older folks living with zero or low income in old private housing who will be affected - they have no intention of selling their property and have nothing to gain from the rise of their assets because they have not intention of monetizing it. Given their age, they may want to stay in their present homes for various reasons. For younger working people, the rise in property tax is probably manageable so long as they did not over leverage. The WIS (Wage Income Supplement) to...

Full article: http://singaporemind.blogspot.com/2013/03/budget-with-cha...

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