Introducing inheritance tax can stymie entrepreneurism, warns property leader Rachel Teo
She also describes how a digital platform she co-founded lets people access fractional property opportunities
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[SINGAPORE] Third-generation property leader Rachel Teo believes that any introduction of inheritance tax needs to be carefully thought through, “without stifling entrepreneurship or punishing intergeneration business succession”.
Speaking on a recent podcast episode of PropertyBT, she argued that business people may consider locating elsewhere, where there is no inheritance tax, should such a levy be introduced here.
She pointed out that small and medium-sized enterprises are an important part of the Singapore economy, and that founders are keen to pass on their businesses and assets to the next generation.
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