What do you guys think of Scrapping COE and following this structure?
Better idea, is to link the COE to number of family member.
elderly & baby entitle for 3yrs of COE and other age group entitle for 2yrs COE.
Example 1:
If your family consist of 2x elderly, 1x baby, you and your wife then your family entitle for 3+3+3+2+2=13 yrs of COE. If you want to buy 2nd car, the 2nd car COE will divide by 2 = 6.5yrs.
Example 2
If your house just you and your wife, then u only entitle for 4yrs COE, you can include your elderly parent but only for 1 family, your sibling can't use your parent name anymore.
Example 3
If you got 4 children age between 4 - 12, then your COE will be = 2+2+2+2+2+2=12 of COE.
The COE should be only transferable within family member. 2nd timer bidding for COE will subject to 30% tax.
This give everyone a fair chance to own a car and taking care of those who is really need a car too and surely will encourage people to have more baby and increase Baby birth rate and same time promoting multi generation taking care your parent.