View Full Version : Landlord add no value to society?
Tax rule on property traders lacks clarity
I have been investing my savings in residential properties, earning rental income and making capital gains, thanks to a buoyant property market. Last year, I was shocked to find that the Inland Revenue Authority of Singapore (Iras) had taxed my capital gains from my property investments as far back as 2006. I was under the impression that capital gains from real estate investments in Singapore are tax-exempt.
http://www.straitstimes.com/premium/forum-letters/story/tax-rule-property-traders-lacks-clarity-20140218
What do u feel about comment that "Landlords like Mr Yeo has a very comfortable existence while contributing almost no value to society. A sweeper sweeps the floor, a mechanic fixes equipments, an accountant make sure our financial system is sound. While a landlord basically taxes another person work, value adding ZERO."?
Tax rule on property traders lacks clarity
I have been investing my savings in residential properties, earning rental income and making capital gains, thanks to a buoyant property market. Last year, I was shocked to find that the Inland Revenue Authority of Singapore (Iras) had taxed my capital gains from my property investments as far back as 2006. I was under the impression that capital gains from real estate investments in Singapore are tax-exempt.
http://www.straitstimes.com/premium/forum-letters/story/tax-rule-property-traders-lacks-clarity-20140218
What do u feel about comment that "Landlords like Mr Yeo has a very comfortable existence while contributing almost no value to society. A sweeper sweeps the floor, a mechanic fixes equipments, an accountant make sure our financial system is sound. While a landlord basically taxes another person work, value adding ZERO."?
Landlord definitely have value. If we ever ask who is the BIGEST Landlord in Singapore
Add no value to economy.
services generated from residential dwellings form part of GDP. How can that not be considered as value?
Think about GDP = C + I + G + X - M. Housing investment comes under I.
In order for you to be a landlord, you need to spend less than you make. With the saving over the years you pay the deposit and loan the rest from the Bank.
Job created by you - Banker, teller, security guards, construction,.... Loan from the Bank are created from the air (just key into the computer system and the money is created) than you need to carry on spend less than you make a month to pay the loan.
Job created by staying in your property - Cleaner, maintenance worker, service provider......... Years later, due to the creation of money, the property you buy appreciated and you are able to cash out and buy another property and you became a Landlord. Along the way you help create lot of job but there are those who spend all their money and did not buy property start to become jealous and say " Landlord add no value to society ".:beats-me-man:
In 1988 I spend less than I earn and buy a 4 room HDB.
In 1995 I sold my 4 room HDB and buy a 5 room HDB and HDB give me a cheque of SGD 180,000.
In 2006 I bought a 2 Bedroom @ Southbank for SGD 535,000 and the rest are history........
Over the years I have created lot of job but nobody thank me.:beats-me-man:
blackjack21trader
20-02-14, 06:51
All those people that shout landlords add no value to society will kena big big later.
A landlord pays taxes and where does the tax goes to ?
A landlord spends money in the economy supporting economic activities and who are the workers of these companies generating the activities?
I tell you, will kena big big these cannot make it educated cow peh cow bu middle class.
blackjack21trader
20-02-14, 06:53
All those people that shout landlords add no value to society will kena big big later.
A landlord pays taxes and where does the tax goes to ?
A landlord spends money in the economy supporting economic activities and who are the workers of these companies generating the activities?
I tell you, will kena big big these cannot make it educated cow peh cow bu middle class.
Just look at those Cow Peh Cow Bu about high property prices a few years ago, what is happening to their own property prices now?
Good Luck, that is all uncle can help.
blackjack21trader
20-02-14, 06:58
Just look at those Cow Peh Cow Bu about high property prices a few years ago, what is happening to their own property prices now?
Good Luck, that is all uncle can help.
The rich will always be richer. This is a fact.
Property market provides a gateway for the middle class to enter into this class of society.
But you know what? The cow peh cow bu guys just blew it for all of you.
You will remain outside the gate long long while eyes open big big and watch the rich continue to get richer via their businesses and investments. At the same time, the gate is NO LONGER there.
Next time see people earn money, just SHUT THE BIG MOUTH and learn to follow. But I think no more next time liao.
blackjack21trader
20-02-14, 07:00
The rich will always be richer. This is a fact.
Property market provides a gateway for the middle class to enter into this class of society.
But you know what? The cow peh cow bu guys just blew it for all of you.
You will remain outside the gate long long while eyes open big big and watch the rich continue to get richer via their businesses and investments. At the same time, the gate is NO LONGER there.
Next time see people earn money, just SHUT THE BIG MOUTH and learn to follow. But I think no more next time liao.
WOAAHAHAHHEHEHHEH
blackjack21trader
20-02-14, 07:07
All those people that shout landlords add no value to society will kena big big later.
A landlord pays taxes and where does the tax goes to ?
A landlord spends money in the economy supporting economic activities and who are the workers of these companies generating the activities?
I tell you, will kena big big these cannot make it educated cow peh cow bu middle class.
You know the Cow Peh Cow Bu will sabotage who this time?
I tell you, many law firms WILL close down starting this year.
Good Luck, continue to cow peh cow bu to sabotage your own economy.
Tax rule on property traders lacks clarity
I have been investing my savings in residential properties, earning rental income and making capital gains, thanks to a buoyant property market. Last year, I was shocked to find that the Inland Revenue Authority of Singapore (Iras) had taxed my capital gains from my property investments as far back as 2006. I was under the impression that capital gains from real estate investments in Singapore are tax-exempt.
http://www.straitstimes.com/premium/forum-letters/story/tax-rule-property-traders-lacks-clarity-20140218
What do u feel about comment that "Landlords like Mr Yeo has a very comfortable existence while contributing almost no value to society. A sweeper sweeps the floor, a mechanic fixes equipments, an accountant make sure our financial system is sound. While a landlord basically taxes another person work, value adding ZERO."?
I kind of agree that being a landlord there is very little contribution to the society as compare what the landlord will gain. And I think what the governments are doing right now with all the cooling measures is to make sure the making easy money from property will become a thing of a past so that Singaporeans will have to focus their attention on their real job and careers instead of always thinking about becoming a landlord.
blackjack21trader
20-02-14, 07:12
I tell you, if no more property market, uncle still got many shares and investments and businesses to sell for cash.
But you leh ? How are u going to encash your only asset : property ?
TALK SOMEMORE ?
NEXT TIME JUST SHUT THE BIG MOUTH UP.
blackjack21trader
20-02-14, 07:16
Look at this equation, idiots:
NO LANDLORDS= NO SURVEYORS=NO LAW FIRMS=NO PROPERTY AGENTS= NO DEVELOPERS= NO CAR COMPANIES= NO SECONDHAND CAR DEALERS= NO SMALL FINANCE COMPANIES=NO CREDIT CARD COMPANIES= NO EXPENSIVE HAIR SALOONS=NO EXPENSIVE BRANDED GOODS SALOON=AFFECTING THE BIG BUSINESSES=AFFECTING YOUR OWN JOB=BURNING YOUR OWN BACKSIDE.
blackjack21trader
20-02-14, 07:21
YOU THINK PEOPLE WILL SPEND MONEY ON BIG ITEMS USING THEIR WORK SALARY ?
FAT HOPES.
ONLY PEOPLE WHO EARN FROM INVESTMENT GAINS WILL SPEND MONEY ON LUXURY GOODS IN THE ECONOMY.
IT WILL GO BACK TO BEFORE 1997.
YOU THINK YOU CAN RESTART THE ENGINE TO CATCH UP CHINA AFTER YOU STALLED IT ?
FAT HOPES.
Couldn't agree more bj sifu!
The rich will always be richer. This is a fact.
Property market provides a gateway for the middle class to enter into this class of society.
But you know what? The cow peh cow bu guys just blew it for all of you.
You will remain outside the gate long long while eyes open big big and watch the rich continue to get richer via their businesses and investments. At the same time, the gate is NO LONGER there.
Next time see people earn money, just SHUT THE BIG MOUTH and learn to follow. But I think no more next time liao.
blackjack21trader
20-02-14, 07:27
Couldn't agree more bj sifu!
Thanks for ur support, you r the best, good brother ;)
The world cannot function if everyone is rich.
Then, people could also ask, Engineers contribute greatly to society, but their pay is like 10% of the golden peanuts a year only!
Do Fund Managers contribute to society? What if all fund managers disappear from earth, will we die?
Similarly if all private wealth managers (like casey anton) disappear from earth, will life on earth stop function as normal?
Compare that to if all engineers disappear from earth, can the trains, buses, airplanes, ships, cars, vans still run and the world still go on without big hicup and life on earth still function like normal?
What if all farmers disappear from earth?
What if the President of a democratic country disappear, will the country still run as normal?
Tax rule on property traders lacks clarity
I have been investing my savings in residential properties, earning rental income and making capital gains, thanks to a buoyant property market. Last year, I was shocked to find that the Inland Revenue Authority of Singapore (Iras) had taxed my capital gains from my property investments as far back as 2006. I was under the impression that capital gains from real estate investments in Singapore are tax-exempt.
http://www.straitstimes.com/premium/forum-letters/story/tax-rule-property-traders-lacks-clarity-20140218
What do u feel about comment that "Landlords like Mr Yeo has a very comfortable existence while contributing almost no value to society. A sweeper sweeps the floor, a mechanic fixes equipments, an accountant make sure our financial system is sound. While a landlord basically taxes another person work, value adding ZERO."?
Thanks for ur support, you r the best, good brother ;)
I also support you. :cool:
YOU THINK PEOPLE WILL SPEND MONEY ON BIG ITEMS USING THEIR WORK SALARY ?
FAT HOPES.
ONLY PEOPLE WHO EARN FROM INVESTMENT GAINS WILL SPEND MONEY ON LUXURY GOODS IN THE ECONOMY.
IT WILL GO BACK TO BEFORE 1997.
YOU THINK YOU CAN RESTART THE ENGINE TO CATCH UP CHINA AFTER YOU STALLED IT ?
FAT HOPES.
+1 ultimately only foreigners and landlords will drive the economy.
+1 ultimately only foreigners and landlords will drive the economy.
That's very dumb statement.
Without domestic and export industry there will be no foreigners in this country and there won't be many landlord either.
Just ask yourself how many tenants in this country depends on real estate for a living.
YOU THINK PEOPLE WILL SPEND MONEY ON BIG ITEMS USING THEIR WORK SALARY ?
FAT HOPES.
ONLY PEOPLE WHO EARN FROM INVESTMENT GAINS WILL SPEND MONEY ON LUXURY GOODS IN THE ECONOMY.
IT WILL GO BACK TO BEFORE 1997.
YOU THINK YOU CAN RESTART THE ENGINE TO CATCH UP CHINA AFTER YOU STALLED IT ?
FAT HOPES.
Luxury items is only a small fraction of the overall economy. While celebrity chef restaurants Re closing down food court business are thriving
Landlord sure got contributions too. Landlands create jobs and income for contruction sectors, banks, law firms, condo sweepers, condo security guards, condo gardeners, electric & gas sectors and landlords pay income tax, property tax, stamp duty too
Landlord sure got contributions too. Landlands create jobs and income for contruction sectors, banks, law firms, condo sweepers, condo security guards, condo gardeners, electric & gas sectors and landlords pay income tax, property tax, stamp duty too
Landlord doesn't.pay.those stuffs it is the tenants who are paying them actually. And it's the industry which the tenants work for that is contributing to landlords income
blackjack21trader
20-02-14, 09:01
Luxury items is only a small fraction of the overall economy. While celebrity chef restaurants Re closing down food court business are thriving
GO ahead, try to save using ur work salary and become a rich man.
property and stock markets are the only 2 gates that provided the pathway to enter the rich class.
even if u r a businessman, u will still NEED to use the money u made in business to invest in property or stocks in order to grow ur wealth.
with one of this gates removed, i see how long u have to continue to work.
blackjack21trader
20-02-14, 09:04
Landlord doesn't.pay.those stuffs it is the tenants who are paying them actually. And it's the industry which the tenants work for that is contributing to landlords income
what talking u ?
before they become landlords, they already work and saved to buy the property. They already paid the capital and taken the risk of investment.
You are a big SABO by saying that.
blackjack21trader
20-02-14, 09:07
Landlord doesn't.pay.those stuffs it is the tenants who are paying them actually. And it's the industry which the tenants work for that is contributing to landlords income
very obviously, ur hidden agenda is to block everyone to become rich.
GO ahead, try to save using ur work salary and become a rich man.
property and stock markets are the only 2 gates that provided the pathway to enter the rich class.
even if u r a businessman, u will still NEED to use the money u made in business to invest in property or stocks in order to grow ur wealth.
with one of this gates removed, i see how long u have to continue to work.
Most rich man make their money from businesses which is unrelated to property and property income that made you rich in the past is just not sustainable. So hero will turn to zero.
blackjack21trader
20-02-14, 09:10
Most rich man make their money from businesses which is unrelated to property and property income that made you rich in the past is just not sustainable. So hero will turn to zero.
obviously the rich u know are not the rich.
who is the largest landlord and richest on Earth ?
answer: Brunei Sultan.
blackjack21trader
20-02-14, 09:13
Most rich man make their money from businesses which is unrelated to property and property income that made you rich in the past is just not sustainable. So hero will turn to zero.
I bet u also do not know many properties and hotels on planet Earth are owned by Brunei Sultan - The RICHEST on EARTH.
and u thought is Bill Gates or Warren Buffett that u read on Forbes ranking ?
blackjack21trader
20-02-14, 09:18
GO ahead, try to save using ur work salary WITHOUT investing and become a rich man.
Even if ur salary is $200,000 a year, 10 years later I will come here and see how well u did without investing and capital gains.
phantom_opera
20-02-14, 09:26
one ring to rule them all
http://www.oftwominds.com/photos2013/income-top10a.jpg
Its fairly clear to me that if you own one property as an investment you are unlikely to be charged capital gains tax , if you buy and sell lots of properties IRAS will say that you are in the business of property speculation and you need to pay 20% or so tax on the profits of this business just like any other business does. If you are the accountant mentioned and your accountancy business makes a million dollars , you will get a tax bill for around 200k , if you are in the business of buying and selling properties even if you are not incorporated and you make a million dollars you should get the same tax bill ! The question is for a small time guy is will IRAS view you as trading properties or not ....
blackjack21trader
20-02-14, 09:33
Its fairly clear to me that if you own one property as an investment you are unlikely to be charged capital gains tax , if you buy and sell lots of properties IRAS will say that you are in the business of property speculation and you need to pay 20% or so tax on the profits of this business just like any other business does. If you are the accountant mentioned and your accountancy business makes a million dollars , you will get a tax bill for around 200k , if you are in the business of buying and selling properties even if you are not incorporated and you make a million dollars you should get the same tax bill ! The question is for a small time guy is will IRAS view you as trading properties or not ....
very well said. Finally there are one sane guy here.
The world cannot function if everyone is rich.
Do not worry. This will never happen. Even the children is one (rich or poor) family will have different economy power when the grow up.
Landlord doesn't.pay.those stuffs it is the tenants who are paying them actually. And it's the industry which the tenants work for that is contributing to landlords income
It's about supply and demand. No demand no supply. No Tenants no Landlord. As simple as that.
If all people in Singapore have choice to buy on the first day the work in Singapore of course they will buy. But in reality that is not possible.
Its fairly clear to me that if you own one property as an investment you are unlikely to be charged capital gains tax , if you buy and sell lots of properties IRAS will say that you are in the business of property speculation and you need to pay 20% or so tax on the profits of this business just like any other business does. If you are the accountant mentioned and your accountancy business makes a million dollars , you will get a tax bill for around 200k , if you are in the business of buying and selling properties even if you are not incorporated and you make a million dollars you should get the same tax bill ! The question is for a small time guy is will IRAS view you as trading properties or not ....
This is an interesting response... but having said that, arent we been taxed in other forms i.e SSD, ABSD etc when we buy and sell properties?
This is an interesting response... but having said that, arent we been taxed in other forms i.e SSD, ABSD etc when we buy and sell properties?
This will be become grey area already (no right no wrong). All the government in the world will take and give. How much the give and how much they can take is decided by General Election.
ask yourself does a pimp add value to society if the answer is yes same goes for landlord:cool:
Only those with green eyes will say landlords add no value to society.
If no landlords, where do the FTs stay when they come here to work?
If no landlords, where do overseas students stay when they come here to pursue hugher education?
If no landlords, where do the food centre/ food court hawkers and restaurants sell their food?
If no landlords, where do the market stall holders and supermarkets open their stalls/ shops?
If no landlords, where do the retail shops sell their goods and provide their services?
If no landlords, where do childcare and education centres provide their services?
If no landlords, where do SMEs operate their businesses?
If no landlords, who to lease you land to open your clubs or golf courses?
Landlords don't pay taxes and contribute to nation building?
Yes, only the green-eyed think that landlords don't add value to the society.
Whether you like it or not, in capitalism, landlords exist.
blackjack21trader
20-02-14, 12:50
Only those with green eyes will say landlords add no value to society.
If no landlords, where do the FTs stay when they come here to work?
If no landlords, where do overseas students stay when they come here to pursue hugher education?
If no landlords, where do the food centre/ food court hawkers and restaurants sell their food?
If no landlords, where do the market stall holders and supermarkets open their stalls/ shops?
If no landlords, where do the retail shops sell their goods and provide their services?
If no landlords, where do childcare and education centres provide their services?
If no landlords, where do SMEs operate their businesses?
If no landlords, who to lease you land to open your clubs or golf courses?
Landlords don't pay taxes and contribute to nation building?
Yes, only the green-eyed think that landlords don't add value to the society.
Whether you like it or not, in capitalism, landlords exist.
very well said, I must say :):cheers5::cheers5::cheers5:
tell that to those si-gin-na :(
Some technology company just got sold for whopping $19b.
How many tenant do you need to find to make this kind of money? :D
Landlord is a service provider, it only exist if there are demand from tenant, and tenant exist because industries and companies in Singapore are thriving
And I bet majority of the "landlord" in this forum wont not have buy investment property if not because there are demand for rental that offer positive yield.
So its really foolish to say that landlord is driving the economy because as landlord, you dont drive, you just follow.
should this, in the first place, be an argument?
You work hard and the society repay you by giving you salary or business profit. You invest the money in properties and make more money. That's all.
If this should be argued, then we should also ask
(1). does saving the money in bank contribute to the society?
(2). does investing in the stock or bond market contribute to the society?
Coming back to the bottom of the issue, there are many people green eyeing those speculators who have made easy money from the property market in recent years. That's why CMs are necessary to encourage people put more effort in their work instead of gamling in the property market.
You know the Cow Peh Cow Bu will sabotage who this time?
I tell you, many law firms WILL close down starting this year.
Good Luck, continue to cow peh cow bu to sabotage your own economy.
Saving the social fabric is of top priority now. Economy is already doing very well, too well!
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