Rich Singaporean property owners could be one target in the 2014 budget statement which will be announced on February 21.
Media reports yesterday suggested that car and property owners could well be forced to pay more, and a higher level of personal income tax could be introduced.
Speaking to CNBC, Selina Ling, head of treasury research and strategy at OCBC said: “In the last budget, thegovernment indicated that wealth taxes could start to play a bigger role in terms of financing and more help for those on lower incomes.
"The government has already started tweaking property taxes and taxes on cars, so we could see more tweaks along these lines. That could be more palatable for now."
Many property industry observers feel the government should be looking to relax existing property cooling measures as both transactions and prices begin to fall.
Andrew Batt, International Group Editor of PropertyGuru Group, wrote this story. To contact him about this or other stories email andrew@propertyguru.com.sg
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