Budget 2005
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Found this in the Budget Highlights for Financial Year 2005/2006, any idea how this is going to affect car owners?
Motor-Vehicle Related Revenues
Motor-Vehicle Related Taxes (namely, the Additional Registration Fee or ARF), and receipts from Vehicle Quota Premiums (i.e. the Certificate of Entitlement or COE premiums) are expected to be $370 million (21%) and $680 million (31%) lower than Budget 2004 estimates respectively. This was due mainly to higher deregistration and correspondingly higher Preferential ARF (PARF) and COE rebates, which dampened the increase in motor-vehicle related revenues from new car registrations. -
Tis means govt expects to get less revenue vehicle taxes because so many pple scrap cars loh. no wonder there's no arf cut like wat was speculated leh...Originally posted by claymarble:Found this in the Budget Highlights for Financial Year 2005/2006, any idea how this is going to affect car owners?
Motor-Vehicle Related Revenues
Motor-Vehicle Related Taxes (namely, the Additional Registration Fee or ARF), and receipts from Vehicle Quota Premiums (i.e. the Certificate of Entitlement or COE premiums) are expected to be $370 million (21%) and $680 million (31%) lower than Budget 2004 estimates respectively. This was due mainly to higher deregistration and correspondingly higher Preferential ARF (PARF) and COE rebates, which dampened the increase in motor-vehicle related revenues from new car registrations.
cigarette duties up 20%
but income tax drop
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Ya loh!!! No drop in ARF!!!Originally posted by lao_chio:Tis means govt expects to get less revenue vehicle taxes because so many pple scrap cars loh. no wonder there's no arf cut like wat was speculated leh...
cigarette duties up 20%
but income tax drop 