Shawn Loh suggests inheritance tax for high value properties

Should inherited high-value properties be taxed? MP Shawn Loh proposed in parliament on Tuesday (Oct 6) an inheritance tax targeting the most expensive one per cent of properties to tackle Singapore’s growing wealth divide. He also suggested a deferred tax mechanism that would allow property owners who are asset-rich but cash-poor to defer tax payments until the value of their properties is realised, such as when they are sold. The issue was raised during a debate on proposed amendments to the Finance (Income Taxes) Bill. #sgnews #singapore Subscribe to our channel here: https://cna.asia/youtubesub Visit our website: https://cna.asia Download our app: https://cna.asia/app Get our editors' picks of stories via chat apps: Telegram: https://cna.asia/telegram WhatsApp: https://cna.asia/whatsapp Follow us on these platforms: https://www.facebook.com/channelnewsasia https://www.instagram.com/channelnewsasia https://www.tiktok.com/@channelnewsasia