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.