Day: January 30, 2012

So is stamp duty rebate legal..?

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This article appeared in The Straits Times forum page today.

Reference: “Is stamp duty reimbursement by property developer legal?” – The Straits Times Forum, 30 Jan 2012

While pondering over the questions raised by Samuel, the wife and I also wondered about “Free COE” offered by some car dealers and “GST Rebate” by retailers. Should these practices be deemed illegal as well?

And in all fairness, the stamp duty reimbursement by FEO (as we understand it) is offered not just to foreigners but for all buyers. However, we are unsure if foreigner gets a larger stamp duty rebate so maybe Sanuel knows something that we don’t. (* would anyone from/marketing for FEO care to comment? *)

Here’s our “2 cents” on the matter: Rebates that allow sellers (irrespective of product) to prop up their prices artifically should be prohibited. Any discount given should be straight off the selling price so that it is transparent to all parties concerned.

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