MOTORISTS CAN ENCASH PARF AND COE REBATES FROM 1 SEPTEMBER 2008

1. On 30 March 2008, the Minister for Transport, Mr. Raymond Lim, announced that the Government will undertake a review of the Preferential Additional Registration Fee (PARF) and Certificate of Entitlement (COE) rebates, with a view to make it easier for car owners to give up their cars and switch to public transport. This ties in with the overall effort to make public transport a choice mode for all commuters, including current car owners. The Land Transport Authority (LTA) is pleased to announce that the review has been completed.

Encashment of PARF/COE Rebates

2. With effect from 1 September 2008, registered owners of un-used and valid PARF/COE rebates can apply to LTA to encash their rebates. This is an additional option available to owners. Owners who want to use their rebates to offset the upfront taxes payable for a new vehicle according to the practice today can continue to do so. LTA will continue to issue rebates to vehicle owners upon de-registration of their vehicles. The rebates will continue to be transferable and be valid for 12 months. This serves to provide flexibility to vehicle owners.
   
   
3. PARF/COE rebate owners may submit their applications for encashment online through the ONE.MOTORING portal from 1 September 2008. Alternatively, they can mail the completed application form (Form FR02) for encashment (downloadable from www.onemotoring.com.sg) to the LTA from 1 September 2008. Once the application for encashment is successfully processed by the LTA, the registered owners of the PARF/COE rebates will receive a refund equivalent to the rebate amount via cheque at their registered address or through GIRO credit into their designated refund bank account registered with the LTA. The LTA will provide more details on the procedures for application for encashment nearer the implementation date of 1 September 2008.

FACTSHEET ON PARF/COE REBATES

What is a PARF rebate and what can it be used for?

The Preferential Additional Registration Fee (PARF) scheme was introduced in December 1975 to encourage the timely replacement of cars. Under this scheme, an owner who de-registers his/her PARF-eligible car before it is 10 years old would receive a PARF rebate. The rebate can be used to offset the Additional Registration Fee (ARF), Registration Fee (RF), Quota Premium (QP) and the $10,000 surcharge for an imported used car (registered from 1 September 2007) payable at the registration of his/her car.

If the registered owner does not intend to use his/her PARF rebate, he/she may sell it to a third party at a mutually agreed rate.

With effect from 1 September 2008, the registered owner of the PARF rebate may also apply to LTA for encashment of his/her rebates.

What is a COE rebate and what can it be used for?

If the vehicle is de-registered before its COE expires, the registered owner may be granted a rebate on the Quota Premium (QP)/Prevailing Quota Premium (PQP) which he has paid. The rebate is pro-rated to the number of months and days remaining on the vehicle's COE. For vehicles registered using "Open" Category COEs, the rebate will be based on the QP of either the "Open" Category, or its corresponding category, from the same tender exercise, whichever is lower.

The owner of the COE rebate may use his/her COE rebate to offset the Additional Registration Fee (ARF), Registration Fee (RF), Quota Premium and the $10,000 surcharge for an imported used car (registered from 1 September 2007) payable at the registration of his/her vehicle. It can also be used to offset the Prevailing Quota Premium (PQP) when renewing his existing vehicle's COE.

If the owner does not intend to use his/her COE rebate, he/she may sell it to a third party at a mutually agreed rate.

With effect from 1 September 2008, the registered owner of the COE rebate may also apply to LTA for encashment of his/her rebates.

Does the PARF or COE rebate have a validity period?

Yes. All PARF/COE rebates are valid for 12 months from the date of de-registration of the old car (PARF/COE rebate) or vehicle (COE rebate).

How can vehicle owners check the details of their COE and/or PARF rebates?

Vehicle owners can check the details of their COE and/or PARF rebates through the following channels:

(a) Check the rebate details online by:

(i) keying in the owner's identification number and de-registered vehicle number at the ?Enquire PARF/COE Rebate for De-registered Vehicle? e-Service on www.one.motoring.com.sg; or

(ii) logging into the e-Services@ONE.MOTORING account at www.onemotoring.com.sg using:

(1) SingPass (for Singaporeans / Singapore PRs);

(2) EASY login (for ACRA-registered businesses / companies issued with EASY account); or

(3) LTA-issued User ID and password (for foreigners and businesses / companies without EASY account); or

(b) Enquire at LTA by producing the original identification documents (original identity cards for Singaporeans/PRs/Malaysians; original passports for foreigners) of the individual rebate holder or sole-proprietor/partner(s)/Director(s) if the rebate holder is a business or company.