Motorists can now exchange PARF and COE rebates for cash from 1st September 2008

[Windwaver]

Government will undertake a review of the Preferential Additional Registration Fee (PARF) and Certificate of Entitlement (COE) rebates , with a view to make it easier for car owners to give up their cars and switch to public transport.

 

In order to make it easier for car owners to give up their cars and switch to public transport, the Land Transport Authority will now allow cash exchanges of un-used and valid PARF/COE rebates. This is an additional option available to owners.

 

Owners who want to use their rebates to offset the upfront taxes payable for a new vehicle according to the practice today can continue to do so. The LTA will continue to issue rebates to vehicle owners upon de-registration of their vehicles. The rebates will continue to be transferable and be valid for 12 months. This serves to provide flexibility to vehicle owners.

 

PARF/COE rebate owners may submit their applications for encashment online through the ONE.MOTORING portal from 1 September 2008. Alternatively, they can mail the completed application form (Form FR02) for encashment (downloadable from www.onemotoring.com.sg) to the LTA from 1 September 2008.

 

Once the application is successfully processed by the LTA, the registered owners of the PARF/COE rebates will receive a refund equivalent to the rebate amount via cheque at their registered address or through GIRO credit into their designated refund bank account registered with the LTA.

 

The LTA will provide more details on the procedures for application for encashment nearer the implementation date of 1 September 2008.

 

Extension of Validity Period for PARF/COE Rebates Expiring between 1 July 2008 and 29 September 2008

 

To facilitate the implementation of this change for the benefit of rebate owners, PARF/COE rebates that are still valid and un-used with expiry dates between 1 July 2008 and 29 September 2008 (both dates inclusive) will be extended to 30 September 2008. Affected owners will receive a notification from the LTA on the revised expiry date of their PARF/COE rebates within the next 2 weeks.

[Ccssgm]

 

http://www.mycarforum.com/forum/General_C1..._Sept_P2435214/

[Windwaver]

, never see but it's for the good of all mah