SG: Electric car sharing scheme may potentially cost government $100 million in tax

Drivers will have to pay more for petrol from today onwards, as there will be an increase in petrol duty rates. However, the increased cost of fuel should be offset by a one-year road tax rebate. The statement was made by Deputy Prime Minister and Finance Minister Tharman Shanmugaratnam, and he believed that the rise in petrol duties will help to encourage less to drive, and in turn, helping to reduce the carbon emissions. Currently, the duty for premium-grade petrol is 44 cents, and that will be raised by 20 cents per litre to 64 cents per litre. The duty for intermediate-grade petrol will increase to 56 cents from the current 41 cents. However, even though the duties have gone up, as oil prices have dropped, the overall price of fuel is less than it has been for the past two and a half years. To offset this, a one-year road tax rebate will be implemented. Expect rebates of 20 per cent for cars, 60 per cent for motorcycles and 100 per cent for the small number of petrol-fueld commercial vehicles, and will cost the Government $144 million.Pictures used for illustration purposes only.

Singapore’s sixth rail depot, Gali Batu, will be completed and operational by July of this year. It is almost twice the size of the last depot at Kim Chuan, and should be able to hold up to 42 trains. More train berths will eventually be added to further increase its capacity. The Gali Batu depot is the first train depot to receive a Green Mark Gold Award, all thanks to its various green features such as the use of natural ventilation, as well as natural illumination.Pictures used for illustration purposes only.

Deputy Prime Minister and Minister for Finance Tharman Shanmugaratnam announced in his 2015 Budget Statement that the Carbon Emissions-Based Vehicle Scheme (CEVS) will be updated for all new and used cars and taxis imported into the country from the 1st of July onwards. The existing scheme was first introduced in January 2013, and was put in place to attract more buyers to purchase low carbon emission vehicles. It is set to expire on the 30th of June this year. The CEVS has helped to significantly reduce carbon emissions from vehicles locally. Since the scheme was implemented 2 years ago, about 65% of the vehicles registered met the criteria and qualified for rebates. 5% of the vehicles didn’t, and their owners had to pay a surcharge. Under the revised CEVS for 2015, all new cars and imported used cars registered for road use from the 1st of July will be classified into 2 categories – low carbon emissions, and high carbon emissions. A car, which produces carbon emissions of less than or equal to 135g per kilometre, will fall into the former, and will net its owner rebates of between $5000 and $30,000. Vehicles that fall into the latter, will incur a surcharge, which will range from $5,000 and $30,000.Pictures used for illusration purposes only.