ARF or Additional Registration Fee, combined with COE or Certificate Of Entitlement will be maybe $240,000 of the cost of the $300,000 golf.
The government limits cars to 1M by issuing a fixed number of licences (the COE), so the price rises or falls according to the number of cars being scrapped.
I guess it's like Malaysia. They have something like a 200% tax on foreign made vehicles.