HDB does not have the legal authority to impose any “special levy”?

[richwang]

http://160.96.186.106/search/topic.jsp?currentTopicID=00078383-WA&currentPubID=00078407-WA&topicKey=00078407-WA.00078383-WA_1%23hansardContent43a675dd-5000-42da-9fd5-40978d79310f%23

Levy for Private Home Owners who Rent Out Their HDB Flats

71 Mr Pritam Singh asked the Minister for National Development if HDB will consider introducing a 'special levy' on the HDB rental income of HDB owners who reside in private property, as a means to encourage such owners to sell their HDB flats with a view to increase the supply of HDB resale flats and to assist in the moderation of the HDB resale price index.

Mr Khaw Boon Wan: Singaporean HDB flat owners, including those who own private properties, are allowed to sublet their HDB flats after meeting the Minimum Occupation Period (MOP). Those who do have to pay a higher property tax at 10% of the Annual Value of the flat, as compared to owner-occupiers who pay between 0% and 6%. In addition, their rental income is subject to income tax.
The resale HDB market has to be moderated. The comprehensive package of cooling measures introduced last week will help achieve this objective. It includes a measure which disallows Permanent Residents from subletting their whole HDB flat, as the privilege to buy a HDB resale flat is to meet their living needs. Those who no longer need their HDB flat for owner-occupation should sell it. In any case, HDB does not have the legal authority to impose any “special levy” as proposed.

[electron]

As a private property owner who bought a resale flat and lived there through the MOP, I feel that the system is already fair. I bought the flat to be close to my kid's school (where he was already schooling), and I feel that that's a legitimate reason. I plan to retire there in future.

I pay investment rate (10% of AV) for property tax for both the HDB flat and the private property I currently reside in. On top of that, the conservancy charges I pay for my flat are higher than what others pay. And as Khaw BW mentioned, I pay income tax for the rental I receive.

I did not try to take advantage of the system, and already feel sufficiently 'penalized'.

[hyenergix]

It will just cause HDB rental to spike up, as owners try to cover costs.

[Arcachon]

http://160.96.186.106/search/topic.jsp?currentTopicID=00078383-WA&currentPubID=00078407-WA&topicKey=00078407-WA.00078383-WA_1%23hansardContent43a675dd-5000-42da-9fd5-40978d79310f%23

Levy for Private Home Owners who Rent Out Their HDB Flats

71 Mr Pritam Singh asked the Minister for National Development if HDB will consider introducing a 'special levy' on the HDB rental income of HDB owners who reside in private property, as a means to encourage such owners to sell their HDB flats with a view to increase the supply of HDB resale flats and to assist in the moderation of the HDB resale price index.

Recommend Singh to read this.

Avianus and Caxton tell different stories of a goose that lays a golden egg, where other versions have a hen,[1] as in Townsend: "A cottager and his wife had a Hen that laid a golden egg every day. They supposed that the Goose must contain a great lump of gold in its inside, and in order to get the gold they killed it. Having done so, they found to their surprise that the Goose differed in no respect from their other hens. The foolish pair, thus hoping to become rich all at once, deprived themselves of the gain of which they were assured day by day."[2]

http://en.wikipedia.org/wiki/The_Goose_That_Laid_the_Golden_Eggs

Killing The Goose That Laid the Golden Eggs