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I RECEIVED a letter from the Land Transport Authority (LTA) advising me of a revision of open market value on my de-registered vehicle scrapped more than four years ago to buy a new car.
The preferential additional registration fee (Parf) rebate amount is $444. According to the letter, this rebate can be used only to offset against the additional registration fee, registration fee or quota premium of a new car registered under my name. The Parf is not refundable in cash. A fee of $10 is payable to transfer the rebate.
When I called LTA to ask if I could offset the rebate against payment of road tax, I was told 'no' as the rebate is only 'paper value' and advised to sell it (undoubtedly at a big discount if anyone is willing to buy it). Furthermore, the rebate expires in one year.
As I do not intend to replace my car within the next 12 months, I stand to lose my rebate. My question is, why am I on the losing end in this four-year-old saga? Is it my fault? I don't think so.
Seah Sian Boey
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