1 An upfront rebate of up to $17,000 on the Quota Premium (QP) for the Certificate of Entitlement (COE) and the Additional Registration Fee (ARF). The rebate is first offset against the COE premium payable, and any excess is then offset against the ARF payable. If the sum of COE QP and ARF is less than the rebate of $17,000, only a rebate up to the sum of COE QP and ARF will be granted.
For example, if the COE QP and ARF payable to register an OPC are $6,200 and $10,000 respectively, the upfront rebate to be granted to the owner will be $16,200 (i.e. COE QP of $6,200 plus ARF payable of $10,000), and not $17,000.
2The additional PARF rebate is calculated based on $2,200 per year for the period that the car remained as a converted OPC under the OPC scheme (in months and days).
3An OPC cash rebate of up to $1,100 for every 6 months the car is registered as a revised OPC will be granted to the registered owner who converted his car into the revised OPC scheme, until the car reaches 10 years old. The car must be kept as an OPC under the revised OPC scheme for at least 6 months after its conversion, except in cases of deregistration or when the OPC under the revised OPC scheme reaches the age of 10 years, to enjoy the cash rebate. No OPC cash rebate will be given for the period when the car is laid-up.
The quantum of the OPC cash rebate amount is calculated in accordance with the amount of upfront rebate that a car would have enjoyed if the car was registered as an OPC. Hence, if the sum of the COE QP and ARF payable is less than $17,000, the cash rebates will be pro-rated accordingly. For example, if a converted revised OPC had been registered as an OPC and was only able to enjoy an OPC upfront rebate of $12,000, instead of the full $17,000, the OPC cash rebate to be granted every 6 months would be pro-rated to $776 (i.e. $12,000/$17,000 x $1,100).
# A one-time payment of the accumulated additional PARF rebate is granted at point of conversion of the car to the revised OPC scheme. This one-time cash payment will be used to offset the $100 administrative fee, as well as any road tax payable, and any balance will be refunded to the registered owner.
