12/13/2007
Longer COEs
Forum writer Frederick Tan Huay Teong pleaded to the LTA to allow extension of COEs for another 5 years and owners can have the option of renewing it year by year. This is good for those who are cash strapped. There is no issue on the condition of the cars as most of them will be like new. Scrapping them at 10 years is a waste.
The current system allows renewal on another 10 year basis. Hmmm, it may be a good idea. But too complicate a system to manage. But what is the advantage from the revenue point of view?
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> too complicate a system to manage. <
Not at all. Simply alter code in the computer program.
> what is the advantage from the revenue point of view? <
Dun worry. The govt will never "give up" a revenue stream unless there was revenue coming in from some other scheme.
I know people who give up their cars after COE expires, and take public transport instead. You will find if you do this, you'll have more money in your pocket. If you really need a car, just hire one and pay-as-you-go.
By making it easier for people to keep their cars, the govt will get BIG BUCKS from ERP, Fuel tax, road tax, stamp duty from insurance, plus the COE renewals themselves.
This is a very smart move. Govt gets richer! The sheeple are happier!
Win-win
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