COE is a very important tax for the government
February 6th, 2024 | 
Author: COE is a very important tax for our government. So easy to collect too.
I was surprised to learn that the balloting of COE is fortnightly. Maybe this may progress to weekly. Vehicle companies and petrol kiosks are also happy.
I think our government always take the easy way out. Collecting money from the population is the easiest. And it is extremely efficient in this.
Teo Soh Lung
Posted in yyy
The people must be radicalize to happily continue paying such prices. Right?
$121k for a car, only for 10 years. Don’t forget other countries, people can keep their cars for as long as they want.
Over 99 years, that will be $1.2 million, plus inflation. That is more exp that a hdb.
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It’s all demand and supply, easy as that. As long as people die die want to own cars they know they have to pay the COE/insurance/petrol costs that come with it. Yet they do not seem to mind, they only want the shiny new car just in time for Chinese New Year too.
If ever the day comes when people suddenly do not wish to buy new cars you can bet that PAP will “tweak” the system to make it look a lot cheaper. When it comes to $$$ we have seen for ourselves just how efficient PAP is be it your income tax or a company’s tax, GST, water, transport fare hikes etc.
So, what was that airy fairy nonsense about car lite again? HA HA HA!!
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My brother suggested I might like this blog He was totally right.
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One need to know where the reserves money coming from. Firstly, it is taxpayers money. It is money from the budget surplus. This means people money are suck by higher tax to make reserves possible. Money should be spend in the budget to boost people welfare and maybe essential spending are cut. It is well known that people call PAP, pay and pay. There are so many taxes from income tax, COE, GST and so on. Secondly, the reserve money invest in companies in Singapore destroy free market in Singapore and these companies act like monopoly make huge profit out of Singaporeans as an indirect tax. The reserve money is Singaporeans’ blood money. Poor Singaporeans suffer hard with little welfare and high cost living to enable reserve money possible. And this reserve money seem to be private fund, not public and not accessible to poor Singaporeans as they cannot access to the money when they need them most in life. The more reserve money a nation has, only show that how blood sucking is the nation. So reserve money disclosure and transparency is not encourage by many politicians.
Having a reserve is controversial because it is taxpayers’ money. People have many questions about having a reserve. People will want to know how much money is invested oversea which help foreign economies prosper instead of local economy. Why taxpayers’ money, reserve, is used to help foreign economies? People will want to know how these reserve money is used? Is it use like Rideout incident or not? Who benefited? Who are the employer and employees running and managing the reserve? Is it someone who approve to invest in cryptocurrency companies or a system which allow investing in cryptocurrency companies? Is it someones’ relative who manage reserve? How much salaries did these employee get? What investments did reserve money invested in? Is investment in FTX and other risky investment safe? IF not safe, why these risky investments are chosen? What is the motive behind these risky investments? As we know high return, high risk investment appear profitable in short term but long term losses could take away all profit and cause huge losses. I do not believe any words from someone who allow reserve to be invest in cryptocurrency companies.
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Simple Hainanese Chicken Rice at $5 approx per plate?All things priced much higher.
If it is supply chain being reason ,why profit$ higher?
The G of Lee Ah Long has turned Sg into $in City.
Inflation has been fueled more by GREED OF G than “supply issues”.
Looks like this is going to be a lethargic LNY for many chinese sg families.
Some things are out of whack here and very much so.
COE IS BASICALLY ANOTHER CRAPPY COLLECT MORE MONEY $cam.
What else?
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People should thank pap for enhancing the prestige and dignity of car ownership.
WoW! You own a car in Singapore? Unbelievable.
Many foreigners who own one or even two cars in their homeland cannot afford one in Singapore.
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Singaporeans voted for COE etc taxes and cost of living.
Suffer more, they all deserve it. I will still drive my sports car.
f-off. I did not vote for any of these.
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I used to ponder between Necessity and Luxiry
With the COE at the rate it goes。
Cars are no longer a Necessity as not many people could afford the COE.
With inflation just after the pandemic lockdown , wars and now diseases emerging. …
Either market not move , slow, struggling, or just waiting to close business.
With inflation… I was at neighbourhood coffeeshop. A cup of drink
Cost $2.40… maybe ice , sugar with water would be easy . Need to quickly sell 62,000 cups just to buy the COE.
Cars would be a Luxury , back to thr Hallmsrk of the 5 “C”d
Condo is better then HDB
For even second cars cannot even smell the COE
There should be a new rules for people who owns the first car paying their first COE and now kept paying for every 10 years down the road.I would humbly drive an old car as necessities to fetch my grandchildren to school and extra clsssrs. That’s doing my duty of giving birth to my children. The COE… Car Of Ease not Luxury or Necessity but to Ease the Burden of the family .
Already squeezing water out of the rock. Now squeezing blood out of the rock. There are no blood out of out hand but bruises of blood dripping out of our hands.
Bring me back to the question why young kids are not getting married. With the pay of $2,500
Will they be able to pay for all these . Or will they be struggling like me for another 50-60 years.
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Sinkies are a cocky but stupid bunch.
They like to “think” themselves very “rich” just to have an over-priced car to show off to family & friends, but really its a sign of stupidity when you look at the bigger picture – Sinkiepore is the ONLY tiny island in the whole world whereby this “P-A-P = Pay And Pay” COE SCHEME works great. LOL.
All my other Msian / Thai / China / US counterparts etc. all LAUGHING at silly Sinkieporeans behind our backs, when they learn that our Toyotas “long-term rentals” cost more than some of their continental cars overseas. LOL.
If you work out the financial numbers, car “ownership” in Sinkiepore is a total “waste” of money and economic resources in EVERY way. It costs more per dollar per year than purchasing say a luxury condo and yet it can NEVER make you a profit (unlike buying real estate or good shares).
Then, the constant “forced” replacement every 10 years of all the rubber tires / metal chassis / glass / plastics etc. is way more damaging to the environment than our silly gabrament’s half-hearted removal of plastic bags due to our “wayang green efforts”. LOL.
Please continue to pay MORE, hope it rises higher lah… since $100k is still “sup sup water” for Sinkies lah. Good to see those who cannot afford but die die want to show-off types, get squeezed until their bank account picheah lobang. LOL.
So Good lah, ironically, I encourage “Pay And Pay” to INCREASE COE higher & higher, until like maybe $350K for Cat A at least, and $500K for Cat B.
This is “nothing” for houlian-desperate SSS Sinkies lah, Yes?/No? LOL.
Happy CNY to all Sinkies! while “P-A-P” says “pay & pay” Huat ah! LOL.
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