Quote:
Originally Posted by hotdog View Post
Its time for Govt or HDB to increase the resale levy. This will
ensure that those holding on to subsidized HDB flats to consider
carefully before selling them. The resale levy has served HDB well
previously until it was relaxed recently. By doing so, the currrent
frenzy in the resale market may ease, because it is not worthwhile
to purchase another subsidized unit in the HDB walk-in selection
after making a big profit from the first unit. Future upgraders to
private properties may also reconsider the decision as if they are
unable to service their loans, going back to HDB subsidized may be
painful cos they need to pay for the re-sale levy for disposing
their first flat. This will dampen the private properties market as
they will be less upgraders going forward.
The profits from land acquisitions and land sales are
transferred to a consolidated fund. These profits are not reported
in the annual budget presented to parliament by PM Lee.
Is Mah Bow Tan willing to reveal these profits in the land
acquisitions? Or is he going to keep quiet about such deceptions or
deceiving of public when people have already posted many facts to
show that HDB is lying when it claims it is subsidizing HDB sale
flats as what HDB has done is merely to give a discount and not any
subsidy at all.
If these profits are taken into account, there would not be any
necessity to increase GST or keep talking about avoiding welfarism
as a slippery slope.
It is sheer NKF wrong doing that such profits are hidden from
people allowing ministers to do as they like with one-sided
creative accounting making it look like HDB is subsidizing the sale
of HDB flats when in fact it is making huge profits both during
land acquisitions and sales of flats.