3/02/2007

more attractive estate duty laws needed

With the economy doing so well, with so many millionaires being made, with so many wealthy foreigners being lured to our shores, hopefully to become citizens, our estate duty laws are out of date. Currently the $9 million for one property and $600,000 cash that are exempted from estate duties are too low. A more reasonable and realistic number should be $20 million worth of properties, not limited to only one property, and $10 million worth of cash, would make citizenship or dying here more attractive.

1 comment:

Matilah_Singapura said...

All taxes are bad. To tax a person s to reduce the wealth of his family, and expands The State, which is a bad thing for FREEDOM and LIBERTY.

Families who prevail, manage to preserve their wealth for generations.

But estate duties can be circumvented by the use of TRUSTS and other vehicles, and happily, trusts are gaining popularity in S'pore