Aiyo... wrong also lar brother....
Spore tax in general is better!!
Take for example stamp duty.... each property I buy in Oz must
pay 20-40aud to Oz garment.
In Singapore each property I buy the stamp duty is negligible
lor. Downside is SG property more vulnerable to speculation lar...
i.e. property bubble.
Kind Regards
Genie
Edit:Sala is not 20-40 aud is 20,000 - 40,000 aud
A) Singapore also has stamp duty, for a S$500,000 property, you
are paying S$9,600 in stamp duties. For S$500,000, you can probably
get a 4-5 Room HDB in Singapore, but you can get a landed property
in Australia. The stamp duty for a A$500,000 (Landed Property) in
Australia ranges from A$8,750 to A$21,970.
B) Australia does not have Radio and TV licence, you still need
to pay S$110 every year to government.
C) There is no property tax for owner occupied housing in
Australia, but in Singapore you still have to pay a concessionary
rate of property tax to Singapore's PAP government. The advantage
of low property taxes in Singapore will be eroded in 10 years, due
to Singapore's property taxes. Also don't forget the higher cost of
living in Singapore compared to Australia. Electricity, ERP,
Medical Services, GST (Australia exempts medication,
books and basic food from GST, Singapore is non discretionary).
D) The wage level for Australia is higher than Singapore,
Singaporeans make $1,200, while similar job in Australia pays 3-4
times more. You get A$15 for stacking shelves in the supermarket in
Australia. How much do you get in Singapore for stacking shelves?
This also means that it's easier for Australians to pay for their
A$500,000 home compared to a Singaporean. When your salary is 3-4
times that of Singapore, it's justified to have
"private" housing that cost $500,000. How do you
justify "public" housing costing S$500,000 when
your salary is 1/3 to 1/4 that of Australia's?
Singapore's tax in general looks better, but when comparison is
taken to relative wage levels and price level, it's a stark
contrast compared to Australia.