To minimise estate duty – invest in residential real estate given the exemption granted for value up to $9mio – was the advice given in last week’s article.
This is a heavy weightage on property as an asset class. Why? To encourage home ownership? To encourage you to stay in Singapore or to discourage you from leaving? To hold up property prices? Don’t think so.
Tan Peng Boon, in today’s Sunday Times, suggested a blanket exemption of up to $9.6mio in term of all assets instead of the current sublimits applied on residential properties and other assets.
Perhaps this is a convenient compromise for the government to hold on to this tax for a few more years.