Landlord add no value to society?

[blackjack21trader]

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]

one ring to rule them all

[catsick]

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]

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.

[Sandiwara]

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.

[Sandiwara]

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.

[sherlock]

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?

[Sandiwara]

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.

[radha08]

ask yourself does a pimp add value to society if the answer is yes same goes for landlord

[earthling]

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]

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

tell that to those si-gin-na

[Ringo33]

Some technology company just got sold for whopping $19b.

How many tenant do you need to find to make this kind of money?

[Ringo33]

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.

[lionhill]

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.

[gemstone]

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!