The news means that PARF rebates will fall to just 5% for new cars de-registered at the end of their first COE cycles. They will also be capped at $30,000.
Private firms stand to gain as parallel imported cars now garners bigger carbon rebates than equivalent models brought in by authorised dealers.
Registered owners of un-used and valid PARF and COE rebate slips will be able to exchange their rebates for cash with effect from 1 September 2008.
Government will undertake a review of the Preferential Additional Registration Fee (PARF) and Certificate of Entitlement (COE) rebates.
