[8/10/2026 8:36 pm] My comments[08/10, 1:24 pm] :
https://vt.tiktok.com/ZSbgujxF7/
PAP MPs suggest inheritance tax for high value properties.
[08/10, 1:26 pm] My comments):
https://vt.tiktok.com/ZSb43onan/
PAP MPs call for tax on owners that own multiple properties.
[08/10, 1:42 pm] My comments):
Top 1% of landed properties" in Singapore essentially refers to Good Class Bungalows (GCBs), though the actual inventory of GCBs is even smaller — accounting for roughly 0.6% to 3.5% of all landed and private residential assets in the country.
[08/10, 1:45 pm] My comments):
Multiple properties ownership refer to 3 or more properties.
This PAP MP say 1st property for staying should be exempt.
2nd property for rental income to finance retirement.
3rd properties and more should be taxed.
[08/10, 4:14 pm] My comments):
Source:- Google Gemini AI
AI Overview
The top 1% of properties in Singapore primarily refer to Good Class Bungalows (GCBs) and ultra-luxury detached landed homes or prime-district luxury penthouses.
EdgeProp Singapore +2
Key Characteristics of the Top 1% Properties
Good Class Bungalows (GCBs): These are the most prestigious and exclusive landed homes in Singapore.
They require a minimum plot size of 1,400 square meters (approx. 15,070 sq ft) and are strictly located within 39 gazetted GCB areas (such as Nassim Road, Bukit Timah, and District 10).
Detached and Large Bungalows: Standalone landed properties that do not share any common walls with neighbors, featuring substantial land sizes (400 sqm to under 1,400 sqm) and high privacy. Property Giant +1
Core Central Region (CCR) Penthouses / Luxury Condos: Ultra-high-end non-landed properties located in prime areas like Orchard, Marina Bay, or Ardmore Park (such as Sculptura Ardmore), fetching tens of millions of dollars per unit. Tatler Asia +1
Why They Represent the Top 1%
Scarcity: Landed properties make up only about 5% of Singapore’s total residential housing stock, and GCBs represent a tiny, tightly regulated fraction of that pool. www.landedproperty.sg +1Ownership
Restrictions: Landed properties (especially GCBs) face strict government rules, and foreign ownership is largely restricted unless special approval is granted (except for specific locations like Sentosa Cove).
Valuation: These properties routinely command multi-million to tens-of-millions or even $100M+ price tags, reserved for ultra-high-net-worth individuals (HNWIs) and family offices.
[08/10, 4:54 pm] My close friend comments:
What is the purpose of taxing merely top 1% . How much contribution to tax? Or to deter gcb ownership?
[08/10, 4:55 pm] My comments):
That's why in the comments column, alot of people raise the question, are they going to chase rich people away.
[08/10, 4:57 pm] My close friend comments:
How many gcb can a person own? Can he own enough to give one gcb or even 1 landed to each child? If not, the children will fight and in the end the way to resolve is to sell the properties and divide the sales proceeds.
[08/10, 4:58 pm] My comments):
I think tax collected quite limited.
But will annoy the ultra rich.
[08/10, 5:00 pm] My close friend comments:
Then what is the difference between leaving behind properties or other types of assets like company shares? Why specifically properties. Then old man buy commercial properties but just leave them to rot. Then children sell and benefit, can or not?
[08/10, 5:02 pm] My comments):
I don't like the ideas of inheritance tax.
But they only raise by MPs.
Ministers didn't say anything.
I look see look see first.
But many netizens already expressing reservation.
So let see how.
[08/10, 5:04 pm] My close friend comments:
Current additional buyer stamp duties make more sense, tackle at purchase point. Discourage endless buying, tax vacant properties may be a better move to further discourage hoarding of precious land use will be a better argument
[08/10, 5:05 pm] My comments):
Yes.
Like GST is ok.
Wealth tax and inheritance tax I don't like.
Tax too many time.
[8/10/2026 8:36 pm] My comments
Buy - tax 1 time, inheritance tax want to tax another time?
[08/10, 5:09 pm] My close friend comments:
Then also have to consider foreign talent whom sg is attracting. They are being taxed additional 60% if they were to purchase properties in sg. No choice, they have to rent. Then gov going to provide accomodation for them? Sg need Singaporeans to own 2nd properties to rent them out to these talents. They need several years to assimilate to Singapore culture, decide to settle down in sg tog with their families and hopefully, they are granted PR ship to purchase homes. Long road. Gov want to resolve their accommodation problems?
[08/10, 5:10 pm] My comments):
I think these MP suggest that 2nd house to rent out no tax.
3rd and more houses got tax.
[08/10, 5:13 pm] My comments):
But I feel that the tax revenue from these few people - not worth the hassle because tax collected will not be alot.
It will cause these rich people to leave.
End up middle and lower income people pay more taxes to compensate.
[08/10, 5:13 pm] My comments):
因小失大。
[08/10, 5:13 pm] My close friend comments:
This is an emotive issue. Majority cannot accept other people having a windfall through inheritance, esp when sg economy has been steadily climbing for 6 decades pushing landed and gcb prices in land scarce sg to record prices. Look at our neighbours. Buy easy sell hard. Where got such problems?
[08/10, 5:16 pm] My comments):
I think let Minister respond to these MPs and see how.
Usually tax ultra rich people, Ministers are very careful as they are fearful of driving out the ultra rich.
[08/10, 5:16 pm] My close friend comments:
f they can rent out 3rd, 4th units, why tax? Means got demand. But if too rich and just buy and park money in properties, that's hoarding and gov have to look into it. It means ineffective demand on land use. Developers keep building, Singaporeans keep buying and leave properties vacant is wrong.
[08/10, 5:18 pm] My comments):
For example, recently the approval of onboarding of fund placement in financial institutions suddenly improve tremendously.
No more hassle and no need onerous submission.
Because rich people complain and some divert funds to foreign countries.
[08/10, 5:18 pm] My close friend comments:
Sometimes, they just want the bottom mp to raise the issue, let social media response, then they check ground emotions and arguments
[08/10, 5:19 pm] My close friend comments:
Make mps look stupid
[08/10, 5:20 pm] My comments): Yes.
I guess so.
That's why I didn't post immediately, because ground sentiment by rich people posting in the TikTok suddenly surge.
Many voice disapproval.
That's why I not jumping in to comment.
I want to see how Ministers respond in Parliament.
[08/10, 5:43 pm] My comments):
"Say no to hoarding homes: PAP MPs call for inheritance tax, multiple residential property tax.
"Wealth packed in housing is not flowing and building anything else," said Chen."
https://mothership.sg/2026/10/no-to-hoarding-homes/#:~:text=Say%20no%20to,else%2C%22%20said%20Chen.
[08/10, 5:58 pm] My comments):
Transport Minister Jeffrey Siow said that such topics "actually go beyond the scope of this bill", and encouraged members to file parliamentary questions at a later sitting.
Minister not responding to these MPs suggestions.
Maybe next sitting.
[08/10, 6:20 pm] My comments):
@Babe:
1. When this rich buy GCB or premium houses, they pay BSD and ABSD - tax 1 time.
2. And every year, they pay property tax. Tax 2nd time.
3. Now suggest to pay inheritance tax - tax 3 times.
As worldwide trends show, countries levying inheritance tax and wealth tax are the sure way to drive away these ultra rich people.
And the tax collection from inheritance tax are not alot in comparison.
When the ultra rich leave, usually the family office that we fought so hard to attract, our middle and lower class will have to pick up the slacks by paying more GST and income tax to compensate.
[8/10/2026 8:36 pm] My comments [08/10, 6:20 pm]:
I finally decided to comment in this MP comment section.
[08/10, 6:33 pm] My comments): @Babe:16/10, 10:58 am]:
The country’s top income tax rate stands at 45 per cent, while inheritances above 3 billion won are taxed at 50 per cent.
“That’s one reason why wealthy individuals are looking abroad,” says Lee Yoonsoo, a professor of economics at Sogang University. “When they get older, they want to pass their assets to their children.”
Their choice of destinations reflects their priorities. “Dubai is probably for asset protection,” he cites, highlighting its safe banking system and zero income tax.
Other popular destinations include Australia, New Zealand and Singapore. “Compared to Seoul, they provide better quality of life in some cases,” he adds. “The most important things are the stable tax environment and global networks.”
Indeed, following an investor backlash against plans to hike corporate tax and expand capital gains taxation, the Lee administration has rolled back on the latter proposal. Last month, the president also ordered that additional inheritance tax relief should be given.
Yet, the complexity of South Korea’s inheritance tax rules is partly why it “lags far behind its peers in attracting wealthy individuals”, says Lee Yoonsoo. “And the … visa system isn’t suitable for rich people to reside in the longer term.”
In the region, Malaysia, Thailand and Japan have introduced golden visa and long-term residency schemes, he highlights. “And Singapore leads the race with low taxes.”
“If I go back, … (with) all the wealth I’ve accumulated in Singapore, I’d have to pay half in Korea when I pass my wealth to my daughters,” he says. “I just regularly visit Korea. … I don’t think I’ll go back.”
[16/10, 11:00 am] My comments:
Inheritance tax and capital tax are the main drivers that chase away millionaires from the country.
"Singapore Inc hopes AI access will stop finance high-flyers moving to Hong Kong - as Hong Kong is introducing sweeping tax cuts.
https://www.ft.com/content/7d2969fd-85aa-43fb-ae04-97d1d0ee2463?syn-25a6b1a6=1#:~:text=Singapore%20Inc%20hopes%2
[08/10, 6:36 pm] My comments):
@Babe:"Google cofounder Sergey Brin has spent $102 million to fight California’s proposed billionaire tax—he could owe $13 billion if he loses".
https://fortune.com/article/how-much-has-google-cofounder-sergey-brin-spent-to-oppose-california-billionaire-tax-102-million-owe-13-billion-if-loses/#:~:text=WEALTH-,Google%20cofounder%20Sergey%20Brin%20has%20spent%20%24102%20million%20to%20fight%20California%E2%80%99s%20proposed%20billionaire%20tax%E2%80%94he%20could%20owe%20%2413%20billion%20if%20he%20loses,-By%20Sasha%20Rogelberg
"India should tax income, not wealth or inheritance: Economist Daniel Waldenstrom".
Many countries have abolished wealth tax and inheritance tax.
https://m.economictimes.com/news/economy/policy/india-should-tax-capital-income-not-wealth-or-inheritance-economist-daniel-waldenstrom/articleshow/134655613.cms#:~:text=India%20should%20tax%20capital%20income%2C%20not%20wealth%20or%20inheritance%3A%20Economist%20Daniel%20Waldenstrom
[16/10, 11:06 am] My comments:
If millionaires migrated, they will stop creating business and jobs. And many Singaporeans will lose their jobs. Economic growth will be dampened.
In addition when that happens, the tax burden fully falls on the middle income and the lower income groups.
This means an even higher GST tax will need to be levied for the loss of tax income - and no GST vouchers will be issue to these 2 groups as the GST tax collection can barely cover other government expenditures with lesser leftover for GST vouchers and CDC vouchers.
----
[13/11, 11:15 am] My comments: "Singapore ranked third top destination for world’s wealthy: Savills" because Singapore not levying inheritance tax, wealth tax and estate duty.
[08/10, 6:50 pm] My comments):
@Babe:因小失大。
Collect based on social justice, based on fairness - can result in dire consequences.
[08/10, 7:05 pm] My comments):
@Babe:Singapore is experiencing a K-shaped Economy.
That's 6% GDP fuel by the few ultra rich through AI growth.
If your inheritance tax chase away the top stroke of the K, the ultra rich will leave - and the rest of the bottom K stroke will plummet - and our economy will plunge straight down.
[08/10, 8:33 pm] My comments):
@Babe:Tax collection must be done skilfully, that is the ultra rich must be willing to pay.
Eg. COE, BSD, ABSD, stamp duty, GST etc - they will willingly pay because they enjoy the luxury, goods and services and won't mind paying extra tax.
The moment you levy inheritance tax, wealth tax or estate duty on them - it will make them furious and leave Singapore.
Because they think that you want to deplete their wealth, prevent them from handing over their hard earned assets to their children.
And the rest of Singaporeans will in turn have to pick up the tab and pay higher taxes that are usually pay by the ultra rich - with no excess for tax transfer by the rich.
If we want to levy tax, we cannot come in from the angle of "social justice".
We have to do it skilfully through "behavioral science", understand "human nature".
Economics are "consumer behavior" that drive "market behavior".
The moment you come in from social justice angle, you will be fried without knowing why.
[8/10/2026 8:59 pm] My comments
@Babe:If the ultra rich pull out because of the inheritance tax or wealth tax, Singapore "K-shaped" Economy become "n-shaped Economy".
Grow a bit and then plummet all the way down.
Singaporeans all suffer.
[8/10/2026 10:04 pm] My comments:-
@Babe:[08/10, 9:20 pm] My close friend comments:
Apparent exodus of super-rich suggests UK is no longer billionaires’ playground | The super-rich | The Guardian https://share.google/8rEvIA9ejHTj5DCEW
[08/10, 9:21 pm] My close friend comments:
Ultra rich leaving UK. Good or bad if that happens to Singapore?
[08/10, 9:21 pm] My comments:
Yes.
That's why I don't agree with WP Jamus Lim inheritance tax and wealth tax.
These 2 Pap MPs I also don't agree.
[08/10, 9:23 pm] My close friend comments:
Sometimes they just want to say it to make the average people happy. Can win many votes mah.
[08/10, 9:25 pm] My comments:
That's why when minister say not responding to their suggestions in Parliament until next sitting - means Nov, I then decide to put in my comments.
Don't want to let oppies latch onto their suggestions and let it fester.
Better stop it at its bud.
@Babe:1. Singapore collected an average of about S$75 million per year from estate duty before it was abolished.
2. Financial Year 2025 (IRAS / Budget): Total GST collection reached S$20.0 billion to S$21.3 billion (driven by the GST rate increase to 9% and resilient private consumption).
3. $75 million estate duty vs $21.3 billions from GST largely contributed by the ultra rich (without the benefits of tax transfer).
So if the ultra rich leave Singapore, does remaining Singaporeans willing to finance $21.3 billion GST without tax transfer versus the meagre amount of $75 million inheritance tax that can be collected from the ultra rich?
Does GST need to increase to 20%, 30% and personal income tax increase to 50%, 60%?
@Babe:1. Levying inheritance tax from social justice angle, we get $75 million.
2. Levying GST tax from a consumer behavior that drive market behavior, we get $21.3 billions.
3. The answer is as clear as a day, inheritance tax is better or GST is better?
====
[08/10, 5:18 pm] My close friend comments:
Sometimes, they just want the bottom mp to raise the issue, let social media response, then they check ground emotions and arguments
[08/10, 5:19 pm] My close friend comments:
Make mps look stupid.
[09/10, 2:14 pm] My comments:
I think Ministers deliberately don't want to respond in this Parliament sittings - because most Ministers belong to this precise targeted category that will attract inheritance tax.
Even if the Ministers explanation is logical and right to the dot, oppies will seize on it like the minister salaries hike - that ministers want to further enrich themselves.
This is politically damaging to PAP even though its policy is appropriate.
Hence the moment I see Minister not responding to these MPs suggestions on inheritance tax - you are right, Minister wants ground sentiment to respond directly to these MPs and WPs suggestions on inheritance tax and wealth tax.
是我出手的时候了。
I cannot anyhow 出手 without understanding what strategic moves PAP are doing - in case I mess everything up.
Now, the situation is clear, I hence comments.
You are right, these 2 MPs could be PAP pawns to draw out ground sentiment.
Then my biting comments will actually fall within their game plan.
====
@Babe:Malaysia to introduce multi-family office model in Forest City
https://share.google/g2wCoFWno8OQpCvbR
@Babe:Forest City’s SFO scheme currently allows one family to manage its funds in Malaysia with zero tax on qualifying income for up to 20 years.
@Babe:Singapore is facing intense competition from many countries trying to attract ultra rich family offices into their countries.
Introducing inheritance tax is a sure way to drive these family offices out of Singapore.
====
@Babe:1. The irony is these top 1% ultra rich don't compete and crowd out the vast majority of the Singaporeans in :-
a. Properties - they buy the most atas premium houses, top class condo, Sentosa Coves - in which most Singaporeans won't buy or are unable to buy.
b. They buy the most expensive atas cars eg. Ferrari, Rolls Royce, Lamborghini, Maserati, premium Mercedes, BMWs etc - in which most Singaporeans won't buy or are unable to buy.
c. They fine dine in the most expensive restaurant and Michelin f&b - in which most Singaporeans won't buy or are unable to buy.
d. They buy the most expensive watches, jeweleries, paintings, bags, clothings, yatch, private jets etc - in which most Singaporeans won't buy or are unable to buy.
And they contribute to a large part of our GST, BSD, ABSD, corporate tax, personal income tax, stamp duty, property tax etc.
@Babe:1. Do we want to levy inheritance tax (in the name of "social justice") and reap a miserable $75 million - but lose a large part of the following contributed by the top 1%:-
GST $21.3 billion
Personal income tax $20.9 billion
Corporate tax $34.4 billion
COE $8.66 billion
BSD & ABSD $6.4 billion
Property tax $6.9 billion
2. Are Singaporeans willing to pay and pick up the tab if the top 1% leave because of the touted inheritance tax in the name of social justice - but lose a big part of all the above tax revenue?
3. Do we know accounting, do we know how to calculate, do we know how to count our loss - by going after inheritance tax?
@Babe:1. Are Singaporeans willing to pay a GST increase by 20%, 30%, 50% or more ?
2. Are Singaporeans willing to pay a personal income tax increase to 50%, 60%, 90% or more?
3. Are Singaporeans willing to pay a property tax increase to 100%?
4. Are Singaporeans willing to pay more taxes of other forms?
In order to compensate for the loss by the top 1% that leave Singapore for the miserable inheritance tax in the name of social justice?
[11/10, 11:50 am] My close friend comments: Don't think your argument resonate. Need to elevate to higher the macro view to make the argument look narrow.
[11/10, 11:54 am] My close friend comments: Eg. Wealthy foreigners buying Singapore properties have to pay 60% absd. For every $1M, they have to fork out $1.6M. revenue to gov. It's a win!
[11/10, 11:55 am] My close friend comments: 2. Majority of properties are 99 leasehold. They will face lease decay at some point in time. Lease tops, land going back to gov and resell. It's a win!
[11/10, 12:00 pm] My close friend comments: 3. Not happy because a small minority enjoy windfall from property price hikes? Come on, it's better for them to buy Singapore property, majority of the value still remain in Singapore given high absd for foreigner ownership. If they cannot buy local property, they buy foreign properties. Money immediately flowed out of Singapore. Other countries impose capital controls, then? Money cannot come back. If not, they spend. On what? Luxury items, again foreign goods, money outflow for good. So if our own rich invest in local properties is a lesser evil than having them spend on foreign made luxuries and properties
[11/10, 12:05 pm] My close friend comments: 4. Sg TFR is at historical low. How? Let foreign talents in, then sg can cherry pick those we need and want to stay eg give them PRship or eventually citizenship to retain them. But in the interim? They need a home. Where do these homes come from? Gov build and rent to them? No lah, let the richer Singaporeans take risks to invest and rent out. In return, they pay absd, higher property tax, plus income tax on rental income.
[11/10, 12:11 pm] My close friend comments: Singaporeans have choices. They have good hdb schemes to fall back on. So why is gov releasing GLS (gov land sale). Merely because there is demand? If owning private properties were such an evil in land scarce Singapore, then stop releasing land sale for private housing. Let private developers chase old lease decay condos and enbloc them. These owners can cash out and downgrade to smaller hdb.
[11/10, 12:14 pm] My close friend comments: It is not a simple arithmetic problem. Tax small number of private property owners and price will come down and everybody happy. It's a very complex balance ... above is just a few parameters.
====
@Babe:https://vt.tiktok.com/ZSbc6kvXP/
Family offices in Singapore - China nationals.
The theme they value is passing wealth and assets to their descendants.
@Babe:Inheritance tax is a sure way to drive all family offices out of Singapore.
@Babe:1. So at the end of the day, what is your purpose of levying inheritance tax?
a. To raise tax revenue?
We will fare worst off because historical lessons show us we collected a meagre sum of $75 million per annum as oppose to multi billions in GST, BSD, ABSD, personal income tax, corporate tax etc if these ultra rich are not chase away by your inheritance tax etc.
2. If raising inheritance tax come from the "social justice" angle.
Then economic reality that shape consumer behavior and market behavior will bring adverse economic consequences to everyone - because human nature from behaviorial science will dictate how the ultra rich react that will make us worst off.
@Babe:Actually the 2 PAP MPs should make themselves clear what issues they are unhappy about and what they are trying to solve.
Not out of the blue declare they want inheritance tax.
WP MPs are very clear, they want inheritance tax and wealth tax to replace GST.
Calculation show that we will be worst off if they do that.
@Babe:AI Overview
Source:- Google Gemini AI
Singapore abolished estate duty for deaths occurring on or after 15 February 2008 (via the Estate Duty (Abolition) Act 2008) to encourage wealth accumulation, attract high-net-worth individuals and families, and position the nation as a leading regional and global wealth management hub.
The Singapore Law Gazette
+2
Key reasons behind the policy shift include:
Boosting Wealth Management: Removing the tax aimed to encourage wealthy individuals and families across Asia to bring and anchor their assets in Singapore rather than competing offshore jurisdictions.
The Singapore Law Gazette
Administrative and Compliance Costs: Processing estate duties involved freezing the deceased's assets, valuations, and lengthy administrative procedures that often created friction and delays for grieving families.
Ministry of Finance (MOF)
Shifting Economic Strategy: Officials weighed the relatively small tax yield against the broader strategic benefit of cultivating a pro-business, capital-friendly environment without traditional death or capital gains taxes.
@Babe:Rich people have so many instruments and tools to get around it.
And we reap very little but offended the cash cow that feed us.
We become worst off as we slaughter the goose that lay the golden eggs.
====
After note:-
@wisdomcharsiew:inheritance tax is straight up stealing
@user803668:why punish people for working hard or smart?
@Ignatius:Sg has already implemented higher ABSDs and tiered property tax though to so called tax the rich. If inheritance tax is implemented, HNW individuals will move elsewhere and not settle down in singapore > leading to lower growth etc.
@averysimplenickname:Inheritance tax is a joke. There are so many ways to work around it. If the issue is for example residential housing, increased tax on holding the asset (property tax etc.) should be imposed instead.
@WildLion168:Why tax my children when I have worked (still working) hard to provide for them. I pays my taxes while working hard. I don’t see the logic. Please explain in detail and seek public opinion before proposing. And also has the MP considered the negative impact of such proposals?
@CalicoCatM:Taxed when alive already and then another tax after death? So absurd.
@Terry Ho172:enough with all this tax la, anyway I not rich enough, but if this goes through, there will be a exodus of rich people
@sun:Hmm..don't see the logic, what's the point of parents working hard for their children? End up children have to pay inheritance tax, when we have already paid the taxes upon purchase and property taxes
@kath:Forcing the property rich ppl to sell turning it to cash before they die . 😱
@CD otd:you want people to have kids. then want to tax people for pasaing down assets. 😅
@Rrrr:It won’t work. The rich will just funnel their wealth to another country.
@Agape Baobei:many properties would be put up for sale soon, so that cash be inherited instead!
@SnackTok SG 🐥:If the property already paid ABSD to gov before, no reason to tax again when passed to next generation
@Ben:Lets reward the lazy and punish the hardworking.
@D Heart:Don't too enthusiastic in taxing the rich more. The western countries have done just that and set up welfare state. Have their society become richer? In fact UK and EU are now in big trouble economically to sustain their welfare states.
@ah weng:Our founder Lee Kuan yew abolished estate inheritance taxes in year 2008 and now want to reversed it.
@Sg HardTruths:Rich ppl can just pretend to transfer property to corporate and back to their children. Skipping inheritance tax.
@Edward Lim:didn't we abolish inheritance tax shortly before lky was expected to kick the bucket? inheritance tax will not happen because all your assets will need to be declared. many wealthy and influential families will not want that and would move to other jurisdictions in order to save tax and protect their asset privacy.
@marsinspace:won’t this just push away rich people and foreign investment ? since rich people can always relocate , this will js make our economy worse which in turn makes everyone poorer .
@Mae Kim417:rich people put the property in a trust. there will not be any inheritance tax.. this only punishes middle class.
@ah weng:Is Shawn loh saying our late lee Kuan yew is wrong in abolishing estate inheritance tax
@D'linquent 👀:so how does inheritance tax on property stop them. it just increase the govt pool for tax collected. think logically, if there is a inheritance tax, people will use trust and in most cases they use trusts, isn't it?
@KAi Gwee:want us tk have children, but want to take part of my wealth for my assets for my child. wth?
@Trendybing17:If all this implement, property market will crash 💥
@lookbook:nobody wants to live here if there is inheritance tax. all the value here created will plunge.
@D💎MySassyFox:DAYLIGHT robbery ….. already do to us for the coe now they do to us on asset.
@Hobechai Blanc Jr.:Won’t happen one. So many complications. People will buy oversea and money drain out.
@bananachacha1122:laugh. All go into trust or family office
@MochiOreo:The top % income earners in Singapore are already paying a big fraction of the taxes, now want to introduce inheritance property taxes, this sounds more and more like communist, 人人平等😂
@fir_OPTCG:im pretty sure the wealthy will find loopholes...like forming a trust and planting all ownership there....a trust never dies, so no inheritance tax... who cannot afford forming a trust...the middle class...
@.:Those who support this will eventually bear the brunt of their folly. Once you open an evil door, it'll eventually let through every demon behind it. Sure, the pilot initiative would affect the original intent, but rest assure, overtime, it would trickle down to everyone.
@TroyLinYew:Are we socialist? Communist? What happened to meritocracy?!
@Trololol:I will just not invest in property then [Tears of joy]. Good luck. My money is only for me, my family and their descendants. Not gonna play with this commie bullshit.
@sohmh2020:Government already give out so much grants especially to the less privilege yet he suggest taking the value from other people's property to distribute further - he still taking others buttock to be his face. don't buy his arguments.
@Righteous:pls be fair to the rich. They don't steal but earn through hardship. Govt with all talents should learn how to make money for the country instead of taxes
@A simple life:Ironically, this is a crowd pleasing suggestion . We will end up like the European countries : Taxing wealth is not the way to increase productivity, it does not create true economic wealth by enterprising ppl. It will penalise those who have done well, paid taxes and wish to buy Singapore properties as an investment.These people have options to leave, start businesses elsewhere . For the sake of completeness, then look at curtailing the lottery effect of selling HDB homes which are subsidised by taxes.
@SJ:Many parents work tirelessly throughout their lives, making countless sacrifices to build a better future for their children and future generations. These sacrifices often go unseen and unrecognised.
Just because some are not fortunate enough to inherit the fruits of their parents’ hard work does not mean others should be penalised for it.
@Silkduck:Does this government realise that in countries like the UK where inheritance tax exist, it is quite by far the most hated of ALL taxes, primarily because it is justifiably viewed to be the most unfair and disingenuous attempt of the government to tax what has already been taxed several times before. It is also a huge disincentive to invest in the country after all who wants to work their butt off in order to fill the coffers of a government and a country that increasingly takes far more than it gives. The UK has lost more millionaires in the last year under the current tax grabbing Labour government than in any previous year since the century began.
@UncGamingDaily:UK removing inheritance tax SG doing it the other way 😑
@Low:hello, the parents already paid whatever shit tax already at their time. Now handing over to their children need tax again. How many times u want to tax for the same item?????
@Ronald Tay825:bullshit citizens most rich wealthy have trust fund handling inheritance where government cannot touch
@Papi:Idiot communist ideology. If LKY were still around he would slap this MP so hard.
====
[11/10/2026 7:25 pm] My close friend comments: Better to restrict them in buying spree than to tax them after. At least they are taking an upfront calculated risks vs they feel cheated at a later stage
[11/10, 4:28 pm] My comments: Yes.
That's why the 2 PAP MPs and WP MPs fail to see the big picture.
[11/10, 4:29 pm] My close friend comments: Eg for foreigner absd is better than inheritance tax. Absd for multiple properties will be better than subsequent wealth accumulation/appreciation tax.
[11/10, 4:30 pm] My close friend comments: We don't know. Sometimes, people meet mp session, they are caught to raise such questions...
[11/10, 4:31 pm] My comments: Could be.
They are just reacting and didn't think deep enough the implications.
[11/10, 4:31 pm] My close friend comments: It could be planted questions, could be individual initiative. We don't know
[11/10, 4:32 pm] My comments: Yes.
That's why I couldn't see the whole game plan.
Hence I react carefully before I put my comments.
Don't want to mess up their game plan.
[11/10, 4:33 pm] My close friend comments: Vacant properties attract higher property taxes can be considered. Cos it means hoarding scarce resource.. and inevitably driving up home prices
[11/10, 4:33 pm] My close friend comments: So owners should lower rent to keep them occupied or sell away
[11/10, 4:34 pm] My comments: Yes.
There are more other better ways to raise tax that ultra rich are willing to pay.
That's why I mainly post in this PAP MP video and not on the other lady PAP MP.
[11/10, 4:44 pm] My close friend comments: If it were about citizens complaining about high home costs, gov simply reduce GLS and allocate the land for more BTOs. Make MOP longer to discourage flipping and lottery effects
[11/10, 4:45 pm] My comments: Yes.
There are many ways to curb high housing prices.
Inheritance tax is a poor tool to do that.
[11/10, 4:46 pm] My close friend comments: Why were there landed properties in the past? Isn't it because gov deny "rich" to buy hdb? Now landed prices shot up, then tax them?
[11/10, 4:48 pm] My comments: That's why there are many contradictions in the policies.
The MPs must have a big overview what these policies are for - so that they don't tax many times one a single problem.
[11/10, 4:50 pm] My close friend comments: When close to 90% citizens stay in hdb, everybody felt equal. Now the gap widen, was it because gov denied them of hdb or gov helping Singaporeans to fulfill more expensive dreams. Stop GLS. Let the existing private apartments age and take back the land. 90% under control
[11/10, 4:51 pm] My comments: Yah Lor.
Actually I don't know out of the blue, what problem these 2 MPs trying to solve.
[11/10, 4:51 pm] My close friend comments: Got money no assets to buy? Money flowed out of sg? Is this good?
[11/10, 4:53 pm] My comments: Yah Lor.
Actually the 2 of them should make themselves clear what issues they are unhappy about and what they are trying to solve.
Not out of the blue declare they want inheritance tax.
WP MPs are very clear, they want inheritance tax and wealth tax to replace GST.
Calculation show that we will be worst off if they do that.
[11/10, 4:54 pm] My close friend comments: Got to dig out what makes gov remove inheritance tax?
[11/10, 4:55 pm] My comments: It is the meagre $75 million collected and many rich just skirt it using other means.
[11/10, 4:58 pm] My close friend comments: But with current absd in place, rich cannot buy multiple properties for their children. They have to pay absd. Outside properties, they can set up trusts, bequeath much earlier eg a person diagnosed stage 4 cancer can still live quite long. Enough time to divide his assets... So makes iras job very difficult
[11/10, 4:59 pm] My comments: Yah Lor.
That's why I don't understand what these 2 PAP MPs trying to solve.
[11/10, 5:00 pm] My close friend comments: I think key problem was it is too difficult to fight rich thinking, how and when he give away his assets to get around estate duties
[11/10, 5:01 pm] My comments: Yes.
[11/10/2026 7:25 pm] My comments:Rich people have so many instruments and tools to get around it.
And we reap very little but offended the cash cow that feed us.
We become worst off as we slaughter the goose that lay the golden eggs.
[11/10, 5:02 pm] My close friend comments: So it means, MP cannot even understand rich people thinking
[11/10, 5:07 pm] My close friend comments: People already early early buy properties for their children under trust. Many years later, iras than tighten the loop hole. See, rich got rich thinking
[11/10, 5:07 pm] My comments: Yah Lor.
In trust how to reap inheritance tax?
[11/10, 5:10 pm] My close friend comments: Cannot use rising property prices as reason for inheritance tax.
[11/10, 5:11 pm] My comments: Understand.
That's why I still don't understand their reason why they say levy inheritance tax.
What are they trying to solve?
They didn't articulate.
We are just guessing their intent.
Hence very difficult to nail them.
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[11/10, 9:01 pm] : https://www.tiktok.com/@shawnloh.sg?_r=1&_t=ZS-9ASzDs45bDs
[11/10, 9:02 pm] :
He didn't put his controversial topics - inheritance tax in his blog.
It could be a strategic play by PAP - to draw out ground sentiment to attack inheritance tax.
So in the next Parliament sitting, Ministers can conclude that ground sentiment don't support inheritance tax.
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