COE premium for mass-market cars hits record high at S$107,889 as EVs and uncertainty on incentives drives sales
Large car and open categories continue to set new peaks for 2025 as they near the S$130,000 mark Read more at The Business Times.
www.businesstimes.com.sg
it's ok, the money will go into improving our public transport. right?
The money will be used to pay people to tell us that the train breakdowns are disappointing
at this point does buying a cat a car even make sense?
Ngl for a brief moment I was confused why you would be even asking whether buying your cat (feline animal) a car makes sense
just increase quota a few months before the next general election, problem solved 👍
Just my own unsubstantiated belief: COE is largely a tax on the wealthy that helps to keep other taxes lower. Some rough math for perspective: Singapore median income for 2024: $56.4k annual The yearly income tax for that salary is less than $2k. (Edit: I think even less than $1k?) If taxed at USA income tax rates, you’d pay around $12k (!!) income tax yearly. (Based on this: https://smartasset.com/taxes/income-taxes#OON5ihBETN) In the US, they are basically being taxed the equivalent of a $120k COE, whether they have a car or not. At least in Singapore, you only pay it if you choose to buy a car.
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