Transfer fee for used car is $11?
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Centurion9990
Well-Known Member
Re: Transfer fee for used car is $11?
Which car you getting next??? Irrelevant
Which car you getting next??? Irrelevant
Re: Transfer fee for used car is $11?
At the Budget 2012, Minister of Finance has announced the removal of ‘Additional Transfer Fee’ for the transfer of vehicle registration, scheduled to take effect from 18 February this year.
The current system imposes two one-time fees during the transfer of vehicle ownership – a $10 basic Transfer Fee, and an Additional Transfer Fee which is computed based on the value of the vehicle at the time of transfer.
Come 18 February 2012, the Additional Transfer Fee segment will be removed. Any transfer taking place after the effected date will only incur a one-time basic Transfer Fee, which will be increased to a nominal $11.
At the Budget 2012, Minister of Finance has announced the removal of ‘Additional Transfer Fee’ for the transfer of vehicle registration, scheduled to take effect from 18 February this year.
The current system imposes two one-time fees during the transfer of vehicle ownership – a $10 basic Transfer Fee, and an Additional Transfer Fee which is computed based on the value of the vehicle at the time of transfer.
Come 18 February 2012, the Additional Transfer Fee segment will be removed. Any transfer taking place after the effected date will only incur a one-time basic Transfer Fee, which will be increased to a nominal $11.
Re: Transfer fee for used car is $11?
what the F is this??? buy big car is an offence ? as it mentioned "higher penalties....LOL
Carbon Emissions-based Vehicle Scheme (CEVS), which will replace the current Green Vehicle Rebate Scheme (GVR), is based on carbon efficiency and will be applicable to all new passenger cars. Owners of car models with low carbon emissions will enjoy rebates on their vehicles Additional Registration Fee (ARF) of up to $20,000. However, those with high carbon emissions will have to pay a registration surcharge of up to $20,000.
Big luxury cars or sports cars – such as the BMW 760Li, Mercedes-Benz S600L, Porsche 911, Ferrari 458 and Lamborghini Gallardo – are expected to attract higher penalties under the new scheme. And cars such as the Toyota Prius (a petrol-electric hatchback) and the Volkswagen Polo BlueMotion 1.2 (a turbodiesel hatchback) are likely to get the biggest incentives.
Deputy Prime Minister Tharman Shanmugaratnam, who is also Finance Minister, noted that the take-up of green vehicles has remained "modest" since the GVR was introduced in 2001. One drawback of the GVR is that it is based on the technology platform, rather than the actual impact on the environment, he said.
The new scheme is expected to cost the Government S$34 million per year, more than double the total annual incentives given under the GVR. For commercial vehicles and motorcycles, the GVR will be extended to end-2014.
The Ministry of Transport will be announcing more details on CEVS.
what the F is this??? buy big car is an offence ? as it mentioned "higher penalties....LOL
Carbon Emissions-based Vehicle Scheme (CEVS), which will replace the current Green Vehicle Rebate Scheme (GVR), is based on carbon efficiency and will be applicable to all new passenger cars. Owners of car models with low carbon emissions will enjoy rebates on their vehicles Additional Registration Fee (ARF) of up to $20,000. However, those with high carbon emissions will have to pay a registration surcharge of up to $20,000.
Big luxury cars or sports cars – such as the BMW 760Li, Mercedes-Benz S600L, Porsche 911, Ferrari 458 and Lamborghini Gallardo – are expected to attract higher penalties under the new scheme. And cars such as the Toyota Prius (a petrol-electric hatchback) and the Volkswagen Polo BlueMotion 1.2 (a turbodiesel hatchback) are likely to get the biggest incentives.
Deputy Prime Minister Tharman Shanmugaratnam, who is also Finance Minister, noted that the take-up of green vehicles has remained "modest" since the GVR was introduced in 2001. One drawback of the GVR is that it is based on the technology platform, rather than the actual impact on the environment, he said.
The new scheme is expected to cost the Government S$34 million per year, more than double the total annual incentives given under the GVR. For commercial vehicles and motorcycles, the GVR will be extended to end-2014.
The Ministry of Transport will be announcing more details on CEVS.
Re: Transfer fee for used car is $11?
The transfer fee is actually being raised by 10%, don't let them condition you to think it's a good deal.
So ok the Additional Transfer Fee is finally deemed meaningless and unjustifiable. How about the Additional Registration Fee on new cars? And why is GST applied on this tax?
The government has a long way to go before it's anywhere near fair on car taxes.
The transfer fee is actually being raised by 10%, don't let them condition you to think it's a good deal.
So ok the Additional Transfer Fee is finally deemed meaningless and unjustifiable. How about the Additional Registration Fee on new cars? And why is GST applied on this tax?
The government has a long way to go before it's anywhere near fair on car taxes.
