D3badge 6th Gear February 18, 2022 Share February 18, 2022 https://www.straitstimes.com/singapore/transport/budget-2022-buyers-of-luxury-cars-to-pay-even-higher-taxes so coming Wednesday COE up or down? 🤣🤣🤣 I think not much impact for above OMV $80,000 cars buyers 😠↡ Advertisement 4 3 Link to post Share on other sites More sharing options...
ToyotaShuttle 5th Gear February 18, 2022 Share February 18, 2022 this is great. eat the rich! 3 Link to post Share on other sites More sharing options...
Atonchia Supersonic February 18, 2022 Share February 18, 2022 37 minutes ago, D3badge said: https://www.straitstimes.com/singapore/transport/budget-2022-buyers-of-luxury-cars-to-pay-even-higher-taxes so coming Wednesday COE up or down? 🤣🤣🤣 I think not much impact for above OMV $80,000 cars buyers 😠From 180% to 220% Where got effect? That is like one KTV outing or one Flower Garland can cover liao.  2 10 Link to post Share on other sites More sharing options...
Ct3833 Supersonic February 18, 2022 Share February 18, 2022 10 minutes ago, Atonchia said: From 180% to 220% Where got effect? That is like one KTV outing or one Flower Garland can cover liao.  the consideration of the government is, while increase tax to collect more money , the increment must also not  drive away the interest of the ultra rich completely so that they will be willing to pay for it. win-win. Gov wont do silly things anyway, they must have calculated how much more revenue they could collect from this group of cars after increasing their taxes 11 Link to post Share on other sites More sharing options...
Atonchia Supersonic February 18, 2022 Share February 18, 2022 (edited) 9 minutes ago, Ct3833 said: the consideration of the government is, while increase tax to collect more money , the increment must also not  drive away the interest of the ultra rich completely so that they will be willing to pay for it. win-win. Gov wont do silly things anyway, they must have calculated how much more revenue they could collect from this group of cars after increasing their taxes Those newly immigrated rich that comes here. Doesn't even bat an eyelid on few $Ks for dining To come here their personal income tax rate is a lot lesser from many of the countries they came from. Local rich unlikely want to shift their assets overseas. Then our expensive items are mainly cars and property. But this is a status symbol. Price matters ....Not value🤣 Edited February 18, 2022 by Atonchia 5 Link to post Share on other sites More sharing options...
t0y0ta Supercharged February 18, 2022 Share February 18, 2022 Actually this and the teeny increase in income tax for the very high income are just wayang shows to distract peasants from the real deal - GST increase Smokescreen to let peasants think that G is focused on taxing the rich. 6 Link to post Share on other sites More sharing options...
neoki_29 1st Gear February 18, 2022 Share February 18, 2022 My next Ferrari will cost more 😂 5 Link to post Share on other sites More sharing options...
Atonchia Supersonic February 18, 2022 Share February 18, 2022 16 minutes ago, Ct3833 said: the consideration of the government is, while increase tax to collect more money , the increment must also not  drive away the interest of the ultra rich completely so that they will be willing to pay for it. win-win. Gov wont do silly things anyway, they must have calculated how much more revenue they could collect from this group of cars after increasing their taxes To my earlier reply on KTV and flower garland...... The highest flower garland I've heard (No. I wasn't there or like to be in such venues) in one of the high profile KTV was $100k. $2-10k was like everyday or every other day occurrences in such places. 2 4 Link to post Share on other sites More sharing options...
inlinesix Supersonic February 18, 2022 Share February 18, 2022 1 minute ago, Atonchia said: To my earlier reply on KTV and flower garland...... The highest flower garland I've heard (No. I wasn't there or like to be in such venues) in one of the high profile KTV was $100k. $2-10k was like everyday or every other day occurrences in such places. For Bentley Continental GT, the increase is about $90k. 3 1 Link to post Share on other sites More sharing options...
Atonchia Supersonic February 18, 2022 Share February 18, 2022 Just now, inlinesix said: For Bentley Continental GT, the increase is about $90k. Less than one Garland🤣 1 4 Link to post Share on other sites More sharing options...
yishunite Turbocharged February 18, 2022 Share February 18, 2022 This is OUTRAGEOUS!!! How dare they... oh wait is OMV... my entire car only then above $80k... 🤣 9 Link to post Share on other sites More sharing options...
Confusedboi Supercharged February 18, 2022 Share February 18, 2022 how many new cars are actually above 80K OMV level though. Not that many I think. other than S classes/ 7 series/ A8's/ Jaguar XJ's and their ( not so many) japanese equivalents, Lexus LS460/LS 500 Left with mainly with Porsches/ Maserati plus the range of Ferrari /Lamborghini/ Rolls Royce/Bentley/Aston martin 7 Link to post Share on other sites More sharing options...
Voodooman Supersonic February 18, 2022 Share February 18, 2022 26 minutes ago, t0y0ta said: Actually this and the teeny increase in income tax for the very high income are just wayang shows to distract peasants from the real deal - GST increase Smokescreen to let peasants think that G is focused on taxing the rich. I wonder how much more luxury and property taxes they will collect vs the increase in GST. That will be telling if this is all wayang kulit. Â 2 1 Link to post Share on other sites More sharing options...
Freeder Hypersonic February 18, 2022 Share February 18, 2022 All wayang kulit… Wu chee tax all the branded stuff lah.. This will be a game changer.. 2 5 Link to post Share on other sites More sharing options...
Carbon82 Moderator February 18, 2022 Share February 18, 2022 10 hours ago, Confusedboi said: how many new cars are actually above 80K OMV level though. Not that many I think. other than S classes/ 7 series/ A8's/ Jaguar XJ's and their ( not so many) japanese equivalents, Lexus LS460/LS 500 Left with mainly with Porsches/ Maserati plus the range of Ferrari /Lamborghini/ Rolls Royce/Bentley/Aston martin For the more common luxury car like 7 series and S Class, which average OMV is in the range of $100K - 110K, the extra 40% in ARF for >$80K OMV translate to $8K to $12K addition ARF, and after taking into consideration of the PARF rebate (@50% of ARF), it is really peanuts (no pun intended). For higher end luxury and sport car (each costing >$1mil), such as Bentley Continental GT, RR Cullinan, Ferrari F8, Roma, etc. where OMV range from $300K to $410K, the extra ARF will jack up the car price by merely 10% there about ($88K to $131K), but after considering the higher PARF, the net impact is again pretty insignificant. Yes, I agree with @t0y0ta that this is more of a distraction to draw attention away from the GST hike. 17 3 Link to post Share on other sites More sharing options...
Phluvcat 6th Gear February 18, 2022 Share February 18, 2022 7 minutes ago, Freeder said: All wayang kulit… Wu chee tax all the branded stuff lah.. This will be a game changer.. Be very specific what you want and wish for. They will say it's what you wanted. They sibeh tokong at doing that. Everything is branded leh, sony brand, akira brand, bedok zui kuay, blanco court kuay zhup, crocodile deh kor, panda canvas shoes, 666 stainless steel tih kong... allooooo.... 😬😒 GST cover everything liao. 6 Link to post Share on other sites More sharing options...
Freeder Hypersonic February 18, 2022 Share February 18, 2022 11 minutes ago, Phluvcat said: Be very specific what you want and wish for. They will say it's what you wanted. They sibeh tokong at doing that. Everything is branded leh, sony brand, akira brand, bedok zui kuay, blanco court kuay zhup, crocodile deh kor, panda canvas shoes, 666 stainless steel tih kong... allooooo.... 😬😒 GST cover everything liao. Should be more specific.. luxury branded goods.. like LV , Chanel, Balanciaga , Rolex and etc.. all these are @RadX fav.. Always see him at Ion n MBS SHOPPES.. 1 5 Link to post Share on other sites More sharing options...
Hamburger Hypersonic February 18, 2022 Share February 18, 2022 Jialat, need to spend more for the same amount of metal.    Wait..... I drive peanut car. Heng Ah!! ↡ Advertisement 5 Link to post Share on other sites More sharing options...
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