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Straits Times
18 hours ago
- Business
- Straits Times
Seller's stamp duty rate for private residential properties raised
Sign up now: Get ST's newsletters delivered to your inbox The latest changes will apply to all residential property purchased on and after 12am on July 4. SINGAPORE - Sellers of private homes will have to pay higher seller's stamp duty (SSD) rates of between 4 and 16 per cent if they sell a residential property less than four years after the date of purchase. The SSD is currently payable by those who sell a residential property within three years of purchase, at rates of between 4 and 12 per cent. The Ministry of National Development , Ministry of Finance and Monetary Authority of Singapore announced the longer holding period and higher rates, which will kick in on July 4, in a statement late at night on July 3. The authorities said that in recent years, the number of private residential property transactions with short holding periods has increased sharply. 'In particular, there has been a significant increase in the sub-sale of units that have not been completed,' they said. A sub-sale refers to the sale of a unit to another buyer before the unit is completed. The SSD was introduced in 2010 as a deterrent against flipping property for profit. It was relaxed in 2017, when sellers no longer had to pay SSD if they sell a residential property after a holding period of three years. Before that, SSD was payable if they sold a property after owning it for fewer than four years. Top stories Swipe. Select. Stay informed. Singapore 193ha of land off Changi to be reclaimed for aviation park; area reduced to save seagrass meadow Business More Singapore residents met CPF Required Retirement Sum when they turned 55 in 2024 Singapore PAP questions Pritam's interview with Malaysian podcast, WP says PAP opposing for the sake of opposing Singapore 1 in 4 appeals to waive HDB wait-out period for private home owners approved since Sept 2022 Sport A true fans' player – Liverpool supporters in Singapore pay tribute to late Diogo Jota Singapore Healthcare facility planned for site of Ang Mo Kio Public Library after it moves to AMK Hub Singapore $500 in Child LifeSG credits, Edusave, Post-Sec Education Account top-ups to be disbursed in July The latest changes on July 4 will apply to all residential property purchased on and after 12am on July 4.
Straits Times
18 hours ago
- Politics
- Straits Times
‘Japanese First': PM Ishiba must address anti-foreigner sentiment ahead of Upper House poll
Sign up now: Get ST's newsletters delivered to your inbox – The last thing a country's leader is expected to do is to publicly slag off the proud traditions of their nation. But Japan's Prime Minister Shigeru Ishiba has caused a stir by seeming to have done just that on July 2, when he described the Japanese language and customs as 'very tedious'. The remark was made in the context of helping foreigners better assimilate into society and recognising the need to ease immigration policies to plug Japan's growing labour shortfall, given its falling birthrates and an ageing population . 'We want foreigners to properly learn the 'very tedious' Japanese language and customs – even at the expense of the Japanese government – and only allow in those who follow Japan's laws,' he said, stressing that there is a place for foreigners who respect Japan's traditions. He was speaking at a debate of the leaders of contesting political parties, held on the eve of Nomination Day for the July 20 Upper House election. Perhaps it was a backhanded attempt to seem relatable, but it has led to the piling of even more heat on a beleaguered leader who is already facing pressure from all sides. Veteran lawmaker Ichiro Ozawa of the main opposition Constitutional Democratic Party of Japan (CDP) criticised Mr Ishiba, saying: 'I cannot sense any reverence for the Japanese language, traditions, or culture. These remarks will offend many citizens and are completely unbecoming of a prime minister.' Top stories Swipe. Select. Stay informed. Singapore 193ha of land off Changi to be reclaimed for aviation park; area reduced to save seagrass meadow Business More Singapore residents met CPF Required Retirement Sum when they turned 55 in 2024 Singapore PAP questions Pritam's interview with Malaysian podcast, WP says PAP opposing for the sake of opposing Singapore 1 in 4 appeals to waive HDB wait-out period for private home owners approved since Sept 2022 Sport A true fans' player – Liverpool fans in Singapore pay tribute to the late Diogo Jota Singapore Healthcare facility planned for site of Ang Mo Kio Public Library after it moves to AMK Hub Singapore $500 in Child LifeSG credits, Edusave, Post-Sec Education Account top-ups to be disbursed in July Business 60 S'pore firms to get AI boost from Tata Consultancy as it launches new innovation centre here But worse, Mr Ishiba's gaffe plays directly into the hands of the young upstart party Sanseito, which has made 'Japanese First' its campaign slogan and struck a chord with the Japanese public in directly taking a leaf from the playbook of United States President Donald Trump's Make America Great Again movement. Its 47-year-old leader Sohei Kamiya, who has a juris doctor degree in law, is known for a history of anti-vaccine propaganda but is now fast gaining attention for his anti-foreigner rhetoric. His party wants to curb foreigner numbers – both immigrants and tourists – and levy heavy taxes on foreign purchases of Japanese land and real estate to prevent Japan from 'becoming an economic colony'. It has also accused foreigners of fostering crime in Japan. The party's nationalistic stance has won it backers including former Air Self-Defence Force chief of staff Toshio Tamogami. 'The Trump administration is defending the national interests of Americans, and this wave is spreading to Europe and other places,' Mr Kamiya said at the debate on July 2. 'The Prime Minister does not believe this applies to Japan. People say this as 'far-right' but we do not think so. And since the global trend is changing, Japan should keep up with the times,' he added. The problem with such rhetoric, even as Mr Kamiya insists the party is 'not xenophobic but just anti-globalism', is that it easily plays to the gallery in Japan, a generally inward-looking nation where just 17.5 per cent of its citizens have passports. The unfortunate reality is that many Japanese are taught from a young age that their country is 'homogenous' and an 'island nation'. And Mr Kamiya's statements feed into an us-versus-them mentality, at a time when many are suffering from rising costs of living. Juxtapose that against the ills associated with overtourism and foreigners swooping in to snap up land and real estate assets that have driven up prices . This is as only 60 per cent of Japanese possess their own homes. Sanseito has enjoyed a meteoric rise since its establishment in 2020, leveraging the power of social media and controversy. On YouTube, it has the distinction of being the most-followed political party in Japan, with 353,000 subscribers, where it spews allegations of foreigners getting 'preferential treatment'. Sanseito leader Sohei Kamiya is now fast gaining attention for his anti-foreigner rhetoric. PHOTO: REUTERS According to media surveys, Sanseito now ranks as the third- or fourth-most popular political party in Japan, behind the ruling Liberal Democratic Party (LDP), CDP and, sometimes, the Democratic Party for the People. Mr Kamiya has cited the examples of Singapore and Dubai in saying how his party will prioritise foreign talent as well as transient workers in areas where there is a manpower shortage. 'We want to rebuild Japan so that we can make this country great again,' he said. Sanseito may still be a small party – it has five lawmakers across the lower and upper houses of Japan's bicameral legislature – but more established parties like the LDP are sitting up and taking note. Rather than ignoring its statements as inconsequential hot air, the LDP wrote into its campaign manifesto a pledge for 'zero illegal foreigners'. Under Mr Ishiba, the LDP has vowed to clamp down on foreigners who fail to pay medical bills, taxes and social insurance premiums. The party's more hawkish camp wants to abolish duty-free shopping for tourists altogether, among other things. Under Japanese Prime Minister Shigeru Ishiba, the Liberal Democratic Party has vowed to clamp down on foreigners who fail to pay medical bills, taxes and social insurance premiums. PHOTO: REUTERS While the battle for votes on July 20 is largely centred on the cost of living, with the LDP promising cash handouts and opposition parties pledging temporary cuts to the sales tax , immigration remains an emotive flashpoint that has drawn supporters and protesters alike to rallies. Much is at stake, and the ruling coalition of LDP and Komeito is trying to defend its majority in the 248-seat chamber. A total of 522 candidates are vying for the 125 seats up for grabs. Lawmakers serve a fixed six-year term in the chamber which, unlike the Lower House, cannot be dissolved. A poll is held every three years, for half the chamber's members whose tenures are expiring. There is an additional seat up for election in this cycle to fill a vacancy. The ruling coalition has 75 uncontested seats, and Mr Ishiba has said his goal is for the bloc to secure a majority by winning at least 50 seats. If it fails to do so, Japan will face the spectre of a political stalemate – or worse, upheaval – given that Mr Ishiba leads a minority government after the coalition lost its majority in the Lower House in an October 2024 snap election . Mr Ishiba has shown remarkable staying power despite his limp Cabinet support ratings, but he has struggled to tame inflation at home. Mr Trump's recent broadsides of Japan as 'very spoiled' in tariff negotiations cannot come at a worse time for him. Sanseito is fielding 55 candidates and aims to secure a total of six seats in the Upper House. While this election will not unseat the incumbent government, the risk is that the seeds of anti-globalisation are being planted, to be sown in future elections. That is something Mr Ishiba can combat by better conveying how Japan should be a vanguard for globalisation and an accepting place for all, and demonstrate to its voters how that would be a far better option than isolationism. Japan had gone down that route during the feudal era, which stunted its technological, economic and social progress.
Straits Times
19 hours ago
- Straits Times
Finnish police say several people stabbed near shopping centre in Tampere
Sign up now: Get ST's newsletters delivered to your inbox STOCKHOLM - Several people were stabbed near a shopping centre in the Finnish city of Tampere on Thursday, police said. Police said in a statement they had arrested one person and that the situation no longer posed a danger to others. The injured are being given first aid, the police said. They did not give details on the extent of the injuries nor on the perpetrator. Police said they were interviewing witnesses and had cordoned off the scene. Public broadcaster YLE reported that traffic in the centre of Tampere - located some 180 kilometres (112 miles) north of Helsinki and the country's third-largest city - is at a standstill. Local paper Aamulehti reported that the person arrested was a man. REUTERS Top stories Swipe. Select. Stay informed. Singapore 193ha of land off Changi to be reclaimed for aviation park; area reduced to save seagrass meadow Business More Singapore residents met CPF Required Retirement Sum when they turned 55 in 2024 Singapore PAP questions Pritam's interview with Malaysian podcast, WP says PAP opposing for the sake of opposing Singapore 1 in 4 appeals to waive HDB wait-out period for private home owners approved since Sept 2022 Sport A true fans' player – Liverpool fans in Singapore pay tribute to the late Diogo Jota Singapore Healthcare facility planned for site of Ang Mo Kio Public Library after it moves to AMK Hub Singapore $500 in Child LifeSG credits, Edusave, Post-Sec Education Account top-ups to be disbursed in July Business 60 S'pore firms to get AI boost from Tata Consultancy as it launches new innovation centre here
Straits Times
a day ago
- Politics
- Straits Times
China denies military base ambitions in Pacific Islands, focus instead on improved livelihoods
Sign up now: Get ST's newsletters delivered to your inbox China's embassy spokesman said the claims about China setting up a military base in the Pacific are false narratives. – China's embassy in Fiji on July 3 denied that Beijing wanted a military base or sphere of influence in the Pacific Islands after Fiji's Prime Minister Sitiveni Rabuka said islands were trying to cope with a powerful China seeking to spread its influence. 'The claims about China setting up a military base in the Pacific are false narratives,' China's embassy spokesman said in a statement. 'China's presence in the Pacific is focused on building roads and bridges to improve people's livelihoods, not on stationing troops or setting up military bases.' Mr Rabuka said on July 2 that his country has development cooperation with China but is opposed to Beijing establishing a military base in the region. In any case, China did not need a base to project power in the region, he added. China tested an intercontinental ballistic missile in September 2024 that flew over Fiji to land 11,000km from China in the international waters of the Pacific Ocean. 'If they can very well target an empty space, they can very well target occupied space,' Mr Rabuka told the National Press Club in Canberra, Australia. Washington became concerned about China's ambition to gain a military foothold in the Pacific Islands in 2018 when Beijing sought to redevelop a naval base in Papua New Guinea and a military base in Fiji. China was outbid by Australia for both projects. Top stories Swipe. Select. Stay informed. Singapore $500 in Child LifeSG credits, Edusave, Post-Sec Education Account top-ups to be disbursed in July Singapore PAP questions Pritam's interview with Malaysian podcast, says politics should stop at water's edge World Liverpool's Portuguese forward Diogo Jota dies in car crash in Spain Sport Liverpool star Diogo Jota dead at 28: What you need to know about the footballer Business 60 S'pore firms to get AI boost from Tata Consultancy as it launches a new innovation centre here Singapore Scoot launches flights to Da Nang, Kota Bharu and Nha Trang; boosts frequency to other destinations Singapore Electrician who bit off part of coworker's ear during fight gets 6 months' jail Asia 4 dead, 30 missing after ferry sinks on way to Indonesia's Bali The concern resurfaced in 2022 when China signed a security pact with the Solomon Islands, prompting Washington to warn it would respond if Beijing established a permanent military presence. In November 2024, the outgoing US Deputy Secretary of State Kurt Campbell urged the Trump administration to keep its focus on the region because China wanted to build bases in the Pacific Islands. The Chinese embassy spokesman said Fiji and China respect each other's sovereignty. 'China has no interest in geopolitical competition or seeking the so-called sphere of influence,' the statement added. China has established a police presence in the Solomon Islands, Kiribati and Vanuatu. REUTERS
Straits Times
a day ago
- Politics
- Straits Times
PAP questions Pritam's interview with Malaysian podcast, says politics should stop at water's edge
Sign up now: Get ST's newsletters delivered to your inbox SINGAPORE – The PAP has raised questions about Leader of the Opposition Pritam Singh's decision to share his views on local politics with a Malaysian podcast. Politics should stop at the water's edge, with domestic affairs debated on and decided by Singaporeans in Singapore, said the ruling party in a statement on July 3. Mr Singh, who leads the Workers' Party, had made his first podcast appearance on Keluar Sekejap, a popular political podcast hosted by former Malaysian health minister Khairy Jamaluddin and former Umno information chief Shahril Hamdan. The almost two-hour-long session, filmed while Mr Singh was on a family holiday to Malaysia, was uploaded to YouTube on June 24. The podcast covered topics such as the WP's strategy during the May 3 general election and the party's role in Singapore's political landscape. Mr Singh had reiterated his view of WP's role as a check and balance to the ruling party, given the appetite of Singapore voters today. The PAP said in its statement that Mr Singh had 'strikingly' chosen a non-local media outlet to 'share his views on our domestic political landscape', in what was his most extensive post-election interview. 'It raises serious questions about why the Secretary-General of the Workers' Party would choose to speak about Singapore's politics on foreign soil, to a foreign audience,' it said. 'This is not merely a matter of platform preference. It touches on a fundamental principle – that Singapore's domestic affairs should be debated and decided by Singaporeans, within Singapore.' Top stories Swipe. Select. Stay informed. Singapore $500 in Child LifeSG credits, Edusave, Post-Sec Education Account top-ups to be disbursed in July Singapore Man to be charged after he allegedly damaged PAP campaign materials on GE2025 Polling Day Singapore Scoot launches flights to Da Nang, Kota Bharu and Nha Trang; boosts frequency to other destinations Singapore Electrician who bit off part of coworker's ear during fight gets 6 months' jail Asia 4 dead, 30 missing after ferry sinks on way to Indonesia's Bali Singapore $1.46b nickel-trading scam: Ng Yu Zhi's bid for bail midway through trial denied by High Court Business Singapore six-month T-bill cut-off yield tumbles from 2% to 1.85% The Straits Times has contacted Mr Singh for comment. The PAP's statement comes days after it put up a similar post on its website. In that post, it also questioned Mr Singh's decision to go on the Malaysian podcast and underscored that Singapore's affairs are for Singaporeans to decide. The PAP said on July 3 that the importance of this principle is not new. It cited former opposition politician Chiam See Tong, who said that Singapore's opposition must be ' patriotic not go around the world denouncing Singapore.' Mr Chiam was MP for Potong Pasir from 1984 to 2011 and is one of Singapore's longest-serving opposition politicians. The PAP also said that concerns had been raised about the WP's past interactions with Mr Noor Deros. The Singaporean self-styled religious teacher based in Malaysia is 'known for views that are at odds with Singapore's commitment to multiracialism and religious harmony', it said. On the third day of the hustings, the authorities had issued a warning that foreigners must not influence Singapore's elections in any way, and blocked Facebook posts from three individuals on these grounds. One of the individuals had shared posts by Mr Noor. Mr Noor, in a series of Facebook posts, claimed he had spoken to all the Malay candidates from the WP , and that the party had agreed to take up concerns regarding the Malay/Muslim community in Singapore. Prime Minister Lawrence Wong then called a press conference and asked political parties to make clear their position on religion and politics . Mr Singh was among the party leaders who agreed that religion and politics should not mix. On the podcast, Mr Singh was asked about multiracialism and multiculturalism in Singapore. Among other things, he said race should not be something to score political points on. The PAP's July 3 statement said that despite the public interest, the WP had not explained what transpired in the meeting with Mr Noor, or why the preacher subsequently expressed public support for WP candidates during the general election. The PAP also made reference to statements from WP's Punggol candidate Harpreet Singh about the PAP's stance on a minority prime minister, calling it a worrying 'pattern of misrepresentation'. Mr Harpreet Singh claimed the PAP had said that then-DPM Tharman Shanmugaratnam would not be put up as PM as some Singaporeans were not ready for a non-Chinese PM, and 'you would never, ever hear that from the WP'. The ruling party also noted that politicians from Parti Islam Se-Malaysia (PAS) – an Islamist opposition party in Malaysia – had endorsed WP candidates on social media during the election. 'Mr (Pritam) Singh remained silent until the Singapore Government called out these acts of blatant foreign interference. Even then, his response left many critical questions unanswered,' said the PAP. Mr Pritam Singh said during the campaign that his party could not be successful if it plays 'the race and religion card' , and that it had not made promises to anyone in exchange for political support. He also said Mr Noor had turned up unannounced at a meeting that the WP had with Malay/Muslim religious leaders. The PAP said Singaporeans are therefore 'entitled to ask' if Mr Singh truly stands by the principles he has stated, or if they are only invoked when convenient. 'Does he believe foreign involvement is acceptable when it benefits his party?' it said. The PAP added in its July 3 statement that Singapore and Malaysia share close historical ties, 'but we also respect each other's sovereignty'. 'In the wake of the painful racial unrest of the 1960s, both sides have observed a careful boundary: we refrain from commenting on each other's politics, and from using each other's media to influence public opinion,' it said. 'This is a longstanding understanding that has served both nations well. Maintaining it requires political leaders of integrity who place national interest above partisan gain.'
