Channel NewsAsia - 1 hour 29 minutes ago
SINGAPORE: Car owners will now have the option to exchange their Preferential Additional Registration Fee (PARF) and the Certificate of Entitlement (COE) rebates for cash.
The change follows a government review of the rebates to make it easier for motorists to give up their cars and switch to public transport.
From September 1, registered owners of unused and valid PARF/COE rebates can apply to the Land Transport Authority for encashment.
Once their applications are processed, they will receive a refund equivalent to the rebate amount.
To facilitate the implementation of this change, PARF/COE rebates with expiry dates between July 1 and September 29 will be extended to the end of September.
Those affected will be informed of the revised expiry dates within the next two weeks.
Motorists who wish to use their PARF/COE rebates to offset the upfront taxes for a new vehicle can continue to do so.
The LTA says it will continue to issue rebates to car owners upon de—registration of their vehicles.
The rebates will remain transferable and valid for 12 months to provide flexibility to vehicle owners.
Transport Minister Raymond Lim had announced in March this year that the government would be reviewing the PARF and COE rebates.
This was to tie in with the overall effort to make public transport a choice mode for all commuters, including car owners. — CNA/yb
good... how much they look into how we can encase our CPF to help us in our survival?
Latest comments
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It has taken more than 30 long years for the MIWs to wake up and make the U-turn on their jealously held belief.
The appeal for cash rebate was continuously given the outright rejection by the MIWs year after year. It must be due to the fear factor in the minds of the MIWs. What was that fear? The MIWs harboured the unfounded fear that it could be a run on the 'govt bank' if cash rebate was allowed. To stop that from happening, the MIWs flatly refused to refund in cash and preferred to make the motorists suffer when they sell that LTA rebate paper to car dealers at a cash discount. It was a policy riding on the attitude that the motorists who dumped in the money have to pay for the loss when they quit. The motorists suffered silently for 30 long years. In the MIWs' mind, the thousands of millions of PARF and COE, once paid into the govt's coffer should become govt's revenue and it would be unthinkable to allow cash refund. Cash refund would be massive cash bleeding on the govt's coffer. Once cash is in the coffer, that is it, no return, one way ticket. That was the sad intransigent stand by the MIWs for 30 long years due to that fear. It was an unfounded fear. It was a 'common banker's type of kiasu mentality fearing that cash rebate could lead to a run on the coffer'. Money is king. Money once in the govt's coffer stays in the coffer. But it was not an equitable policy if not why this U-turn after 30 long years? Has anything changed to push for the MIWs to make this U-turn? It is just that the fear factor has been removed. This U-turn shows that the MIWs still have many 'kiasu fear-factor mentality' to dump for them to improve in their art of governing and for them to close the gap between the governed and govern. 10 years to 2018. If the MIWs make more efforts to address the 'kiasu mentality in governing', they stand a good chance not to invite the freak election result, which is of concern to MM. The solution to prevent freak result is to make U-turns to remove the 'kiasu mentality and fear-factor of governing'. If this is not addressed, it will be RWYS. |
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Posted by: ErpErpErp at Wed Jul 02 10:07:45 SGT 2008
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