Moving the discussion away from a personal wealth tax

In a joint commentary, commercial litigator Danny Quah and SMU student Valerie Ng opined that “while wealth taxes may be a means to diversify Singapore's sources of income and facilitate intra-societal and inter-generational money transfers, they are a blunt tool and may have unintended effects.” Instead, they urged Singapore’s policymakers to consider shifting the balance in the country's tax structure away from taxing income towards taxing wealth via a corporate wealth tax and property-related taxes.