Myth 174 - No Estate Duty

We have just scrapped Estate Duty and the super rich are all popping their champagne. I am going to argue that this is another Singapore myth.

What is Estate Duty? In brief it is a tax on a citizen's life long accummulation of wealth, his properties and money. With the scrapping of the Estate Duty, this is gone. For the average Singaporean, his life long accummulated wealth is his HDB flat and