GST to be raised to 7%
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OM used the wrong comparison to compare the wrong thing.Originally posted by kilua:India isnt a good place to compare. The government has insufficient revenue and collecting more may provide better services. But is hard to say becoz more money may go to civil servants who raise their own pays and give themselves bonuses.
Singapore on the other hand has so many hidden cookie jars of state revenue. the sale of state land is not recognised as a revenue while Hong Kong recognizes it.
OM are you a nick run by a team of people from MICA? -
i bet u r right, i think they are loaded tooOriginally posted by siaokao:I guess 66.6% of singaporeans are happy.. they got what they ask for.
Transport.. Utilities.. GST hike..
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today's s h i t times forum, a hkie from wan chai, hk stated that our gst is actually enrich the rich, bankrupting the already poor.
and the worst, he said, the rich dun need further tax relief. but to the poor, all kena.
he cited an example say if a guy with 500K income, he would save about 5k in tax rebate at least...but it would be nothing to him.
the poor on the other hand, will be paying taxes for every damn thing he needs...and he already so poor.
THE CLOWN IS A FREAKY EVIL PINKIE....TOTALLY HEARTLESS AND SOULESS TO THE AUTHENTIC SUFFERING OF PEASANTS!.....;9(
even a foreigner, hkie knows that. why can't he for once be honest with us and descends from his ivory tower? -
THANKS MR LEE KAN YOU
OR LEE CON YOU, CANE YOU
WHATEVER UR NAME IS
U SHLD REST IN PEACE NOW K THX BYE -
Singapore govt to freeze fee increases for one year after GST hike
SINGAPORE: There will be no government fee increases for one year after the Goods and Services Tax (GST) is increased from 5% to 7%.
That is the promise made by Second Finance Minister Tharman Shanmugaratnam.
The government will also continue to absorb the GST for education and subsidised healthcare services.
He announced this during a TV forum recording for "A Future Singapore -A Conversation with Minister Tharman Shanmugaratnam".
The TV forum will be broadcast on Channel NewsAsia at 7.30 pm on 30 November.
Mr Tharman said that the government would ensure that the low-income group is well taken of and would even be better off after the hike than before.
He explained that the overall plan is to grow Singapore's economy and use government revenue to specifically help the lower-income families.
On concerns that the hike comes on the back of other recent increases such as transport fares, Mr Tharman said that the government would on its part do what it could to cut costs and absorb increases. - CNA/ir
already increase everything this year... in fact, GST is as good as everything -
Originally posted by www:already increase everything this year... in fact, GST is as good as everything
Exactly... no matter what fancy words they use, twist words or quote brilliant statistics (that we mysteriously can't feel) to justify the sudden increases, people will see thru it. They're robbing the poor to please the rich. I think Singaporeans may grumble/complain but we eventually give in to the govt because we believe they want the best for us .. this time it's different, and could very well make us snap. And I'm hoping it will. -
The fact is this... no one will stand up against Men in White (almighty)... those who did are literally paying for it... they've slayed everyone who came up to them...Originally posted by spinsugar:
Exactly... no matter what fancy words they use, twist words or quote brilliant statistics (that we mysteriously can't feel) to justify the sudden increases, people will see thru it. They're robbing the poor to please the rich. I think Singaporeans may grumble/complain but we eventually give in to the govt because we believe they want the best for us .. this time it's different, and could very well make us snap. And I'm hoping it will.
Big Bullies!!!!!! -
i still think this is a matter of promising not to rob you for a year.. so that you can recover enough for them so that it is worth their while to rob you the next round..
Originally posted by www:
[b] Singapore govt to freeze fee increases for one year after GST hike
SINGAPORE: There will be no government fee increases for one year after the Goods and Services Tax (GST) is increased from 5% to 7%.
That is the promise made by Second Finance Minister Tharman Shanmugaratnam.
The government will also continue to absorb the GST for education and subsidised healthcare services.
He announced this during a TV forum recording for "A Future Singapore -A Conversation with Minister Tharman Shanmugaratnam".
The TV forum will be broadcast on Channel NewsAsia at 7.30 pm on 30 November.
Mr Tharman said that the government would ensure that the low-income group is well taken of and would even be better off after the hike than before.
He explained that the overall plan is to grow Singapore's economy and use government revenue to specifically help the lower-income families.
On concerns that the hike comes on the back of other recent increases such as transport fares, Mr Tharman said that the government would on its part do what it could to cut costs and absorb increases. - CNA/ir
already increase everything this year... in fact, GST is as good as everything
[/b] -
Originally posted by fudgester:They can get away with doing so only because there are Singaporeans who do get blinded by those gifts which so conveniently came before the GE.
If only they could just stop and think about how they're being screwed in the long run...
Argh................. they like it ma. -
He's just doing 'selective comparison' just like wat the gahmen does when it raise prices to justify..Originally posted by Hogzilla:OM used the wrong comparison to compare the wrong thing. -
just curious arh.. you think they really care and bother about the people? well, something interesting to know -> mee siam mai hum (said by our faithful prime minister) you think he really knows what is going on in the heartlands?
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They certainly care about a certain group of people - civil servants...Originally posted by o_x:just curious arh.. you think they really care and bother about the people? well, something interesting to know -> mee siam mai hum (said by our faithful prime minister) you think he really knows what is going on in the heartlands?
I find it quite funny to read about the GST hike, followed by an increase of salary & bonus for civil servants... -
if you don't already know, the increase for the civil servants is a smokescreen...
the civil servants are mostly working hacks, doing their job to do stuff like make sure your children are educated, you have a passport to travel with... stuff like that... the people who are not even noticed..
the main idea to give the civil servants raises was to put them in the line of fire... the normal working hacks will get a little bit of raise.. but the BIG BOSSES like the Permanent Secretaries, the Deputy Secretaries will get really big raises..
again, it's all a smokescreen too..
the main aim of the raise was to raise the Ministers' pay..Originally posted by autumncs:They certainly care about a certain group of people - civil servants...
I find it quite funny to read about the GST hike, followed by an increase of salary & bonus for civil servants... -
It just show that he is disconnected with the people.Originally posted by o_x:just curious arh.. you think they really care and bother about the people? well, something interesting to know -> mee siam mai hum (said by our faithful prime minister) you think he really knows what is going on in the heartlands?
He just stays in the Ivory tower. Occasionally, he comes down to the ground, made sure his lackeys had already clean the slums before the bring his camera for some sight-seeing, then proclaims that he knows the ground well.
Maybe next time I buy mee siam, I ask whether they got hum or not.... -
i think it wld be a matter of time be4 GST is 15% but welfare benefits wld probably nt exist either
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First-class civil service is terribly expensive to have....AND maintain!
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Hong Kong cancel GST
http://agony.sgforums.com/?action=thread_display&thread_id=223781 -
GST = Great Suicide Train.
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Well yes apparently the ministers will be getting richer with the tax too...forwarded by a friend :Originally posted by the Bear:if you don't already know, the increase for the civil servants is a smokescreen...
the civil servants are mostly working hacks, doing their job to do stuff like make sure your children are educated, you have a passport to travel with... stuff like that... the people who are not even noticed..
the main idea to give the civil servants raises was to put them in the line of fire... the normal working hacks will get a little bit of raise.. but the BIG BOSSES like the Permanent Secretaries, the Deputy Secretaries will get really big raises..
again, it's all a smokescreen too..
the main aim of the raise was to raise the Ministers' pay..
Example 1
In 2006, if after rebates etc and your net taxable income is $60,000,
the income tax you need to pay is $2,700 (8.75%). If you spend $800 a
month on needed goods and services, the GST paid for 5% will be $480
Total=$3,180 in Tax paid.
In 2007, if after rebates etc and your net taxable income is $60,000,
the income tax you need to pay is $2,600 (8.50%). If you spend $800 a
month on needed goods and services, the GST paid for 7% will be $672
Total=$3,272 in Tax paid.
From $3,180 to $3,272, the effective increase is 2.89%.
Example 2
In 2006, if after rebates etc and your net taxable income is $400,000,
the income tax you need to pay is $61,650 (21%). If you spend $4,000 a
month on needed goods and services, the GST paid for 5% will be $2,400
Total=$64,050 in Tax paid.
In 2007, if after rebates etc and your net taxable income is $400,000,
the income tax you need to pay is $58,700 (20%). If you spend $4,000 a
month on needed goods and services, the GST paid for 7% will be $3,360
Total=$62,060 in Tax paid.
From $64,050 to $62,060, the effective decrease is -3.11%.
Example 3
In 2006, if after rebates etc and your net taxable income is $25,000,
the income tax you need to pay is $187.50 (3.75%). If you spend $800 a
month on needed goods and services, the GST paid for 5% will be $480
Total=$667.50 in Tax paid.
In 2007, if after rebates etc and your net taxable income is $25,000,
the income tax you need to pay is $175 (3.5%). If you spend $800 a month
on needed goods and services, the GST paid for 7% will be $672
Total=$847 in Tax paid.
From $667.50 to $847, the effective increase is 26.89%.
The fact is: The poorer you are, the more the GST is going to affect you -
KNN GE jus over orredy wanna increase GST n bus fare..............................
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This is the only place in the world where gahmen hikes living costs for its citizens, sings own praises, raises own pays, builds own statues... and us people r so 'happy' and 'grateful' for... come Feb 2007, u'll hear almost everybody in the news praising the generosity, the cares, the colors, etc of the gahmen's dishes... the gahmen will say they have done the best so they will get the best pay in the governing circles, tsk, tsk, leaving the best raise at the last part... we actually believed it's for our OWN GOOD... then when reality slips in, whine some more... that's the cycle of life here
John F. Kennedy:
If a free society cannot help the many who are poor, it cannot save the few who are rich. -
Here is my take on this GST issue. Please give me your thought about this.
If we look at the history of taxes, be it corporate tax and individual tax rates, there has been a significant drop of taxes being charged. This can give you a better idea about it.
Individual tax rates
http://www.iras.gov.sg/ESVPortal/iit/iit-se-a1.1.15+tax+rates+for+resident+individuals.asp
Corporate tax rates
http://www.iras.gov.sg/ESVPortal/ct/ct_b.2.2_what+are+the+tax+rates.asp
As you can see from the rates above, both tax rates has dropped significantly, with indivdual drop from the first $7500 at 2% to the first $20,000 at 0% and corporate tax drop from 40% to the current 20%.
Now lets look into the system of taxation for individuals. For those who knows a little bit about tax would realise that it is a system to tax the rich more then the poor. In another words, the government according to this tax system wants to shorten the gap between the poor and the rich.
Another minor example would be the government gave rebates on utilities for those who stay 3 room flat and below. Help the poor and let the rich pay for the utilities.
With the GST introduced, the general impact will be minimal to the company as they can choose to register as a GST trader. Therefore, the government is very much trying to promote a better environment to for the company to grow and become competitive especially when the gov is saying that there might be a decrease with the corporate tax further. With this in mind, in an environmentally friendly for company would push the economy to greater heights and thus giving the people more job prospects and better financial backing in the long run. With this in place, the government must train and educate everyone to make sure everyone can reap profit from this in which they are currently doing. I shall not touch on the issue with inflation and such for now.
Thus, the main impact on GST will definitely be to the consumers - Citizen of Singapore. This is very different from the direction that the government would like to foster - tax the rich and not the poor. This is because GST affects everyone! From the poor to the rich. I would agree that the GST will definitely affect the poor more than the rich in terms of percentage on the spendings of necesities. But if we were to take a step back and see, the rich definitely spends more than the poor and therefore, they will definitely pay more GST to the government.
The main primary concern now is that the poor, with the rising price (due to inflation) and the increase of GST might just be another blow to them. They might even suffer as their financial strenght is already limited. Now, the government has promised to help them. Should they be able to help them effectively will be the primary factor to make this entire system works. For now, we could only suspect and question on how well are they able to perform in this area.
In my conclusion, with the GST increase is to help the corporate world grow and people get more jobs (better pay?). As the poor will suffer the most, the government has promised to help them. The question is how well can they help especially when there is an inflation. -
Hi Folks,
Everyday, during lunch with my peers, we talk about GST, Football, Toto, etc.
End of the day, you buy yourself a Toto dream for $1, but what is the real catch? Hoping to achieve financial freedom.
Even GST goes up to 7% but end consumer paying a cup of coffee from current $0.90 to $1, that is 10% increase, it is still normal. Nothing you can do to overcome but wait for your yearly salary and bonus to increase. Hopefully more than 7%? Fat hope!
That's life. Move on and work on more practical stuff! -
I really laugh out loud when reading forums. So many complains but nothing we can do? Seems like one huge comedy. Infact singapore is just a communist state with democracy as a thin veil.
Those who disagree, do tell us what we can do to let our voice be heard without getting sued? Infact, would our voices be heard at all?
THE TRUTH IS THIS. THERE IS NOTHING WE CAN DO.
Simple as that. My short term plan is to vote for the Opposition, long term plan, to move out from the country (if there is still no change).
Regards,
BKKboy
PS: all the bullsh*t about higher taxes in other countries, do we have their better retirement benefits, better pay, better government? I don't wish to hear anymore bullsh*ts. I would like to say this to PAP, the truth is no one likes you, but no choice, as our opposition is not much better. -
Somehow I do agree somewhat with bangkokboy. This forum simply represents an outlet for us since we have not much way to change things now.
Let's face it. This is S'pore and it works like this: Once a political party has been voted in, we will have to live with whatever policies that it is going to introduce for the next 5 year.
The world is much more globalised now and so is the job market as compared to say, 20-30 years back. The difference is that we can either take it, or like the Scandinavian guy who was critical of his govt, leave to get a job somewhere else.
Many S'poreans have done it or are already doing it. We often see the ST Forum publishing the letters of returning S'poreans (for whatever reasons) who say that those who stayed behind in S'pore are lucky and should be fortunate that we have a very good place to live in. Unfortunately, we see very few ST Forum articles (maybe even none?) talking about ex-S'poreans or even S'poreans who come back and start to say that their host country they stayed is much better than S'pore.
Nevertheless, I think most pple who are online in this Forum should be well-informed either from friends or otherwise to make their own choice even though the Govt (maybe the press too?) may be strongly encouraging you (as people is S'pore only precious resources) that this is indeed the best place for you.
My take is that S'pore is a good place to let your children have education and grow up in (up to a certain level). For university onwards, it may be better for the children to experience a different environment.