Quote:
Originally Posted by LEA69
Dont complain about Aussie prices people!!
My parents reside in Singapore. Dad bought a new Audi A4 for $185,000 Singapore Dollars... but mind you S$1 is AU$1.3 approx. So not much of an exchange rate.
It's all about the tax to keep the numbers of cars down in the tiny island country. A stock Hyundai Excel in Singapore will set you back $70,000 AUSTRALIAN DOLLARS!!!!!!
If you didnt know (a bit of a culture/ history lesson here), one has to 'bid' to own the 'title' to a car in Singapore. The car itself (take the Excel for example) is only worth $14,000. But, you have to bid against others who want that same car for the title to own it. This bidding can go up to the tens of thousands of $, and you end up paying $50,000-$60,000 for this 'title' and add the price of the car $14,000 on top of it. This 'title' is known as COE - Certificate of Entitlement'.
What I paid for my E90 is biscuits compared to my dad's stock Audi!
Plus, in Singapore, you pay road tax not like here in Melb (which is an annual fixed amount of $570) based on the cc's of your car. You want a massive 6litre V8 engine, you pay $2500 in tax... but a 1.5l excel, you pay $900 in tax per annum.
Makes sense though, charge those who can afford to buy bigger/ more expensive cars more tax than those who choose to buy a small get around car who pay less tex.
Comments?
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That sucks, just another way to get pounded by govt taxes. Although I don't agree with it making sense to charge people who can afford more expensive cars more tax. I personally think the tax system in this country needs a massive revamp, and the highest marginal tax bracket should be in line with countries like the US at around 32-35%.
What happens to the title when they sell the car second hand? Surely the used car market must be pretty good for resale value then?