Current The ARF is currently tiered based on the following rates:
| Open Market Value (”OMV”) | ARF Rate |
|---|---|
| First S$20,000 | 100% of OMV |
| Next S$30,000 | 140% of OMV |
| Next S$30,000 | 180% of OMV |
| In excess of S$80,000 | 220% of OMV |
Proposed The ARF payable for cars, taxis, and goods-cum-passenger vehicles will be tiered based on the following rates:
| OMV | ARF Rate |
|---|---|
| First S$20,000 | 100% of OMV |
| Next S$20,000 | 140% of OMV |
| Next S$20,000 | 190% of OMV |
| Next S$20,000 | 250% of OMV |
| In excess of S$80,000 | 320% of OMV |
The new ARF structure will apply to all new and imported used cars and goods-cum passenger vehicles registered with Certificates of Entitlement ("COEs") obtained from the second COE bidding exercise in February 2023 onwards.
For vehicles that do not need to bid for COEs (e.g. taxis, classic cars), the new rates will apply for those registered on or after 15 February 2023.
Current PARF rebates are calculated as a percentage of ARF paid and tiered based on the age of vehicle at deregistration (as per the table below):
| Age of Vehicle at Deregistration | PARF Rebate |
|---|---|
| Age ≤ 5 years | 75% of ARF |
| 5 years < Age ≤ 6 years | 70% of ARF |
| 6 years < Age ≤ 7 years | 65% of ARF |
| 7 years < Age ≤ 8 years | 60% of ARF |
| 8 years < Age ≤ 9 years | 55% of ARF |
| 9 years < Age ≤ 10 years | 50% of ARF |
| Age > 10 years | N.A. |
Proposed The PARF rebates will be capped at S$60,000 as follows:
The PARF cap does not apply to vehicles that are not eligible for PARF rebates, such as goods cum-passenger vehicles, classic cars, and vehicles that have been laid-up.
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