The account below is pure fiction.
From all the easy money that I made from the crypto fiasco, I have chosen to stay put in my 5-rm HDB flat and have put a deposit down for my dream car instead - a Ferrari F8 Spyder. I was a little upset last year when the taxman in Singapore decided to revise the tiered ARF in Budget 2022. I took it in my stride as the increase was just a bit more. Then I took a hit in Crypto and because I was smart, I was able to cut my losses early and did not really suffer big losses. My budget for my spanking new Ferrari F8 Spyder is still there and is earning good interest in government bonds. My F8 Spyder finally got allocated and will arrive in March, with delivery in 2023 April. To play a little prank on myself, I was planning to register the car on 1st of April 2023 and I have successful secure the number plate SXX14X as well ! After I secure my hopeful $105k COE next round, I will be all SET !
My dear future DPM gave me the best Valentine's Day present today. When I heard his speech, the first thing I did was to check what was the average OMV of my spanking new F8 Spyder. LTA's website told me $321,631. I punched into my excel sheet and almost fainted. The increase in ARF is going to be $267,631 !!
And to make matters worse, he has also decided to limit PARF of my car at the end of 10 years to $60,000. It was previously 50% of ARF paid.
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