We already tax high-income earners and wealth.
For income, we increased the top marginal Personal Income Tax (PIT) rates for higher-income earners in Budget 2015, from 20% to 22%.
For now, PIT rates are reasonable to keep us attractive, given the intense global competition for talent.
We will continue to review our rates regularly.
For property, we:
Increased property tax rates for vacant or rented residential properties in Budget 2013.
Increased top marginal Buyer’s Stamp Duty (BSD) rate for higher-value residential properties in Budget 2018.