"I am a BLOGGER NOT an expert. This is a BLOG not a 'go-to' website for official information. I represent no one's view save my own. I have neither legal nor financial training, nor do I have anything to do with the real estate industry. My understanding of the Collective Sale Process is from a layman's position only. My calculations, computations and tables are homespun and may contain errors. Please note that nothing in this blog constitutes any legal or financial advice to anyone reading it. You should refer to your lawyer, CSC or financial adviser for expert advice before making any decision. This disclaimer is applicable to every post and comment on the blog. Read at your own risk."
Drop Down MenusCSS Drop Down MenuPure CSS Dropdown Menu
There is one thing worse than an Enbloc ----- and that is an Enbloc done badly. Since the majority have the necessary mandate to sell, then they owe it to all SPs to make a success of it. Minority SPs can only watch and wait, if they sell then lets pray it's at a price we can move on with, if they don't sell, then we are happy to stay for a few more years.

Flipper's Tax (and it's repeal)

The Government has come out with an anti-speculation measure (though they insist it is not) which could put a dampener on flipper activity in the en bloc sale market. I don't think it will have a huge effect, but there could be some short term selling to beat the deadline for it's implementation. Flippers with multiple units sold over the last 4 years (with profits undeclared to the taxman) could be saddled with a large tax bill if they put themselves on the IRAS radar after 01 Jan 2010. Better to sell their unsold units now at a loss and lie low. Tax dodging is a fine art...
Property Tax gains; up to IRAS to decide
Sunday Times - 12 July 2009
Property investors still jittery about tax policy
Sunday Times - 12 July 2009
ChannelNewsAsia - 10 July 2009
Draft Income Tax (Amendment) Bill 2009
Today- 10 July 2009
Government clears air over tax on property gains
Business Times - 10 July 2009
If you are interested, the Ministry must receive your feedback (using the template provided) by 14 JULY 2009
Click on the above link for details.
22 Aug 2009
The Government has decided to drop the implementation of the new property tax - with 64 feed back receieved , 60 were against the idea.
So, flippers can flip on.

No comments:

Post a Comment