Elysa Chen on Finance (Income Taxes) Bill
The government should study a progressive holding tax on multiple investment residential properties as part of its ongoing review of Singapore’s tax system and consider it for a future budget, said MP Elysa Chen. Speaking in parliament on Tuesday (Oct 6), she wanted to know how many individuals own three or more residential properties, and how this number has changed over the last decade. Ms Chen pointed out that Singaporeans find themselves playing a “game of Monopoly that is already stacked against them” because someone has already bought up all the properties, leaving them with no chance at all.
The government should study a progressive holding tax on multiple investment residential properties as part of its ongoing review of Singapore’s tax system and consider it for a future budget, said MP Elysa Chen. Speaking in parliament on Tuesday (Oct 6), she wanted to know how many individuals own three or more residential properties, and how this number has changed over the last decade. Ms Chen pointed out that Singaporeans find themselves playing a “game of Monopoly that is already stacked against them” because someone has already bought up all the properties, leaving them with no chance at all.
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