Mr Chua Kheng Wee Louis asked the Deputy Prime Minister and Minister for Finance (a) what is the rationale for having only nationals or permanent residents of selected countries under the Singapore-European Free Trade Association Free Trade Agreement be exempted from Additional Buyer’s Stamp Duty (ABSD) imposed on these foreign buyers of residential properties; and (b)Continue reading “EXEMPTION FROM ADDITIONAL BUYER’S STAMP DUTY FOR PROPERTY PURCHASES BY NATIONALS OF SELECTED COUNTRIES UNDER SINGAPORE-EUROPEAN ASSOCIATION FREE TRADE AGREEMENT”
Category Archives: Ministry of Finance
IMPACT OF REVISED LAND ALLOCATION AND PRICING FRAMEWORK FOR PLACES OF WORSHIP ON PAST RESERVES
Assoc Prof Jamus Jerome Lim asked the Deputy Prime Minister and Minister for Finance (a) whether the revised land allocation and pricing framework for place of worship will have any impact on past reserves; (b) if so, what is the projected long-term impact; (c) whether the Government will consider implementing a similar pricing allocation framework forContinue reading “IMPACT OF REVISED LAND ALLOCATION AND PRICING FRAMEWORK FOR PLACES OF WORSHIP ON PAST RESERVES”
CONSULTATION PROCESS IN DECISION TO CLOSE SINGAPORE TURF CLUB IN 2024
Assoc Prof Jamus Jerome Lim asked the Deputy Prime Minister and Minister for Finance (a) whether there was any consultation process undertaken with relevant stakeholders in the decision to close down the Singapore Turf Club in 2024 and, if so, what was done in the process. Mr Lawrence Wong: These questions were addressed in the reply toContinue reading “CONSULTATION PROCESS IN DECISION TO CLOSE SINGAPORE TURF CLUB IN 2024”
CONDITIONS FOR CHANGING $1 MILLION THRESHOLD FOR BUSINESSES’ LIABILITY FOR GST REGISTRATION
Mr Pritam Singh asked the Deputy Prime Minister and Minister for Finance (a) whether the Government intends to change the limit of $1 million before businesses are liable for GST registration; and (b) what conditions will determine a change in this policy. Mr Lawrence Wong: The current Goods & Services Tax (GST) registration threshold of $1 millionContinue reading “CONDITIONS FOR CHANGING $1 MILLION THRESHOLD FOR BUSINESSES’ LIABILITY FOR GST REGISTRATION”
DISCLOSURE OF BUSINESS INFORMATION ON CARBON EMISSIONS, USE OF RENEWABLE ENERGY AND CLIMATE CHANGE MEASURES
Mr Dennis Tan Lip Fong asked the Deputy Prime Minister and Minister for Finance whether the Government will review how it can better regulate the provision or disclosure of companies’ business information on (i) the use of or investment in renewable energy alternatives and (ii) any impact arising from its business activities relating to emissions, biodiversity,Continue reading “DISCLOSURE OF BUSINESS INFORMATION ON CARBON EMISSIONS, USE OF RENEWABLE ENERGY AND CLIMATE CHANGE MEASURES”
BREAKDOWN OF REVENUES FROM INCOME TAX ON NET ANNUAL VALUE OF RESIDENTIAL PROPERTIES
Mr Chua Kheng Wee Louis asked the Deputy Prime Minister and Minister for Finance for the income tax on the Net Annual Value (NAV) of residential properties which tax has been removed with effect from Year of Assessment 2010 and based on Year of Assessment 2009, what is the respective breakdown for (i) the amount ofContinue reading “BREAKDOWN OF REVENUES FROM INCOME TAX ON NET ANNUAL VALUE OF RESIDENTIAL PROPERTIES”
ASSESSMENT OF WHETHER LEAKED CLASSIFIED US MILITARY AND INTELLIGENCE DOCUMENTS RELATE TO SINGAPORE
Mr Gerald Giam Yean Song asked the Minister for Defence (a) whether any of the apparently classified US military and intelligence documents that appeared online addresses Singapore; (b) how does the Government ensure that information and intelligence that it shares with other countries are not compromised by those countries; and (c) in the event of a leakContinue reading “ASSESSMENT OF WHETHER LEAKED CLASSIFIED US MILITARY AND INTELLIGENCE DOCUMENTS RELATE TO SINGAPORE”
POLICY STANCE ON “99-TO-1” ARRANGEMENTS FOR STAMP DUTY PAYMENT IN PROPERTY TRANSACTIONS AND MEASURES TO PREVENT RECURRENCE
Mr Chua Kheng Wee Louis asked the Deputy Prime Minister and Minister for Finance (a) what is the assessed number of cases in each year over the last five years where first-time buyers of private residential properties have signed fresh agreements to sell 1% of the same property shortly after exercising the purchase options; (b) how manyContinue reading “POLICY STANCE ON “99-TO-1” ARRANGEMENTS FOR STAMP DUTY PAYMENT IN PROPERTY TRANSACTIONS AND MEASURES TO PREVENT RECURRENCE”
DIFFERENCE IN INCOME TAX PAYABLE FOR WORKING MOTHERS FROM NEW WORKING MOTHER’S CHILD RELIEF
Mr Chua Kheng Wee Louis asked the Deputy Prime Minister and Minister for Finance based on the personal income tax data of working mothers for Year of Assessment 2022, what is the percentage of mothers who would (i) pay a higher amount of income tax, (ii) experience no change in income tax paid and (iii) payContinue reading “DIFFERENCE IN INCOME TAX PAYABLE FOR WORKING MOTHERS FROM NEW WORKING MOTHER’S CHILD RELIEF”
RATIONALE FOR ADJUSTING BUYER’S STAMP DUTY RATES FOR HIGHER-VALUE PROPERTIES
Assoc Prof Jamus Jerome Lim (Sengkang): Just a quick clarification. I understand the motivation just like the hon Member, but it strikes me that why do we not just give a little bit more buffer on the front end? Perhaps some individuals will game the system? But rather than go through the exhaustive appeal route whichContinue reading “RATIONALE FOR ADJUSTING BUYER’S STAMP DUTY RATES FOR HIGHER-VALUE PROPERTIES”
Office of the Leader of the Opposition 