Singapore Budget: ciggies to cost more
- Thread starter Oilman
- Start date
Re: Singapore Budget: ciggies to cost more
This is a missed opportunity. They should've cut taxes on the low end, rather than raise taxes on the high end. All car prices will rise as a result of this ill-conceived policy.
Man with Shiny Pate should be fired.
This is a missed opportunity. They should've cut taxes on the low end, rather than raise taxes on the high end. All car prices will rise as a result of this ill-conceived policy.
Man with Shiny Pate should be fired.
cymon
Well-Known Member
Re: Singapore Budget: ciggies to cost more
The ARF not base on the amount and %, below picture will be easier to understand (courtesy by The Straits Times).
View attachment 47817
lim_ck;960085 said:
The ARF not base on the amount and %, below picture will be easier to understand (courtesy by The Straits Times).
View attachment 47817
Last edited by a moderator:
peckhs
Well-Known Member
Re: Singapore Budget: ciggies to cost more
Originally Posted by sammy
MAS Imposes Financing Restrictions on Motor Vehicle Loans
Singapore, 25 February 2013 … The Monetary Authority of Singapore (MAS) will re-introduce financing restrictions on motor vehicle loans granted by financial institutions.
The maximum motor vehicle loan amount will depend on the open market value (OMV) of the motor vehicle purchased:
(i) For a motor vehicle with OMV that does not exceed $20,000, the maximum loan-to-value (LTV) is 60% of the purchase price, including relevant taxes and the price of the Certificate of Entitlement, where applicable; and
(ii) For a motor vehicle with OMV of more than $20,000, the maximum LTV is 50%.
In addition, the tenure of a motor vehicle loan will be capped at 5 years.
The financing restrictions are necessary to encourage financial prudence among buyers of motor vehicles. In this prolonged environment of very low interest rates, there is greater risk of buyers over-extending themselves on motor vehicles.
The financing restrictions will not apply to loans for the purchase of commercial vehicles
They will also not apply to loans for the purchase of motorcycles.
The rules will take effect from 26 February 2013.
HUAT AH!!
Originally Posted by sammy
MAS Imposes Financing Restrictions on Motor Vehicle Loans
Singapore, 25 February 2013 … The Monetary Authority of Singapore (MAS) will re-introduce financing restrictions on motor vehicle loans granted by financial institutions.
The maximum motor vehicle loan amount will depend on the open market value (OMV) of the motor vehicle purchased:
(i) For a motor vehicle with OMV that does not exceed $20,000, the maximum loan-to-value (LTV) is 60% of the purchase price, including relevant taxes and the price of the Certificate of Entitlement, where applicable; and
(ii) For a motor vehicle with OMV of more than $20,000, the maximum LTV is 50%.
In addition, the tenure of a motor vehicle loan will be capped at 5 years.
The financing restrictions are necessary to encourage financial prudence among buyers of motor vehicles. In this prolonged environment of very low interest rates, there is greater risk of buyers over-extending themselves on motor vehicles.
The financing restrictions will not apply to loans for the purchase of commercial vehicles
They will also not apply to loans for the purchase of motorcycles.
The rules will take effect from 26 February 2013.
HUAT AH!!
My pea brain overloaded and I am now confused 
