IT IS not equitable to place any property tax burden on HDB flat owners who do not receive any rental income.
Property tax as a form of indirect taxation should be levied only if there is any realised gain on the sale of the HDB flat, or if it generates income via rent.
Also, the increase in property tax due to the increase in the market value of flats is nothing but lame. Most of us HDB flat owners do not gain any benefit from such increase in market value as it is considered ‘unrealised’ gain.
Taxation should be levied only on actual realised gain, whether it is capital or revenue in nature.
Martyn Lee
Source: Straits Times, 8 Dec 2009
No comments:
Post a Comment