Motor Dealers on the Temporary Transfer of Vehicle Scheme1) Motor trade users on the Temporary Transfer scheme are reminded that from 28 February 2006:
- They must use their Electronic Service Agent (ESA) account (i.e. login to LTALink with their Netrust Token) to temporarily transfer a vehicle to their name in order to enjoy the exemption from ATF. This requires a Transaction PIN from the vehicle owner;
- The transfer of a Temporary Transfer scheme vehicle out of their account does not require a Transaction PIN. They can merely login to LTALink with their Netrust Token and transfer the vehicle to the buyer. This also applies to rebates registered to their account.
2) With effect from 10 November 2008, the ESA may log in to LTALink with their Netrust Token to de-register
1 or lay-up their vehicles which are under
valid temporary ownership.
3) If a vehicle is non PARF-eligible and/or less than 2 years old, the ESA will first need to make an online application to de-register the vehicle via LTALink. This does not require a Transaction PIN. The vehicle can then be:
i) Sent directly to an EPZ or Scrapyard for immediate de-registration, and the vehicle will be accepted once the submitter's ID has been verified; or
ii) De-registered over the counter at LTA's office at Sin Ming Drive with the submission of the
De-registration Form , disposal documents and verification of the submitter's ID.
4) The online application to de-register is only valid for 5 calendar days. If the vehicle is not de-registered within 5 calendar days, the application will be purged. A fresh online application to de-register the vehicle will then be required. Please note that without an online application to de-register, the ESA would have to produce
De-registration Form (D01), and relevant
identification documents for verification to de-register a vehicle under valid temporary ownership scheme at our counters.
Note: If an ESA has chosen to make an online application to de-register a PARF-eligible vehicle of more than 2 years old under valid temporary ownership period and subsequently decides to de-register the vehicle via the LTALink, he may still proceed to do so without waiting for the online application of 5 days to be expired.
Temporary Transfer of Vehicle Scheme
1) Under the Temporary Transfer of Vehicle Scheme, licensed motor trade dealers or hire purchase companies could, for a transfer fee of $10, assume temporary ownership of 3 months for vehicles that were bought for resale or were repossessed from hirers respectively. Such dealers or hire purchase companies have up to 3 months from the first temporary transfer date to effect a permanent transfer of vehicle to a buyer; otherwise an extension of another 3 months of temporary ownership will be granted at an extension fee of $30 (deducted from the dealer's nominated GIRO account). Upon expiry of the 6-month temporary ownership period, a further 3-month extension in the temporary ownership period will be granted with a payment of a fee of $60 (deducted from the dealer's nominated GIRO account). A further 3-month extension in the temporary ownership scheme with a payment of a fee of $90 (deducted from the dealer's nominated GIRO account), up to a maximum of 12 months, will be granted to vehicles:
i) whose temporary ownership start date falls between 25 May 2009 and 24 May 2010; or
ii) whose 9-month temporary ownership expiry date falls between 25 May 2009 and 23 February 2011
A summary of the temporary ownership period and fees payable is as follows:
| Length of Temporary Ownership Period |
Fee payable
|
| 1st to 3rd month of temporary ownership |
$10
|
| 4th to 6th month of temporary ownership |
$30
|
| 7th to 9th month of temporary ownership |
$60
|
| 9th to 12th month of temporary ownership2 |
$90
|
2) At the end of the maximum allowable temporary ownership period, a period of 9 months or 12 months where applicable, the vehicle dealer/hire purchase company will be required to effect a permanent transfer of the vehicle to himself before the vehicle can be further transferred to another buyer, or de-registered. Full transfer fees consisting of the Transfer Fee and Additional Transfer Fee will be payable. The number of transfer count of the vehicle will also be increased by one accordingly.
3) If the vehicle dealer/hire purchase company de-registers the vehicle within the maximum allowable temporary ownership period, a period of 9 months or 12 months where applicable, full transfer fees will not be charged. However, if they de-register the vehicle after the maximum allowable temporary ownership period, full transfer fees will be payable.
1 This is only applicable to PARF-eligible vehicles of more than 2 years old.
2 Extension from 10th to 12th month temporary ownership period will be for an interim period of 1-year commencing from 25 May 2009 to 24 May 2010. Only vehicles whose temporary ownership start date falls between 25 May 2009 and 24 May 2010 or vehicles whose 9-month temporary ownership expiry date falls between 25 May 2009 and 23 February 2011 will be eligible for the above extension.
