Latest: Hong Kong cancel GST implemenation!!
-
i wrung out a long time ago.Originally posted by the Bear:nothing.. they're not out to prove anything.. they're just out to wring you dry
-
then, like i said, they'll render your dry dessicated corpse for phosphates..Originally posted by dragg:i wrung out a long time ago.
-
They have nothing to prove, they are just exploiting us in the short run by paying themselves astronomical salaries; in the long run if they should ever lose the election, they will leave this god forsaken place, they have the ability to from the years of super normal salaries.Originally posted by dragg:its true.
i really dont understand what the govt is trying to prove?
-
i was not even given a chance to vote horOriginally posted by Chelzea:singaporeans have just no guts to to vote opposition
we have only ourself to blame 
not to forget their really cheap public housing program...their COE & ERP less private carOriginally posted by maurizio13:FYI, Hong Kong has one of the lowest corporate tax rate in the asia, even lower than Singapore (20%), if Hong Kong (17.5%) can afford not to have any GST; What can we say about Singapore?
We are one hell of a sad exploited lot.
not all things are more ex lah.. alot of actually cheaper.... e.g my mc nugget meal UPSIZED is only 24.30 = SGD4.86... even at the current xiong exchange rateOriginally posted by shinta:but their stuff more expensive than ours leh...
even if u dun take forex into consideration
in conclusion... that is why everytime my boss ask mi what is my career plan.. i told him send mi anywhere also can just dun send mi back to sg.. so if u see mi back in sg b4 40yrs old.... dun ask mi why hor.. i will be damn tulan already
-
let's drive home another point.Originally posted by LazerLordz:Nikon lenses cost 120 bucks cheaper in Mongkok, HK than Singapore.
100 JPYen is worth S$1.35.
a Sony DSC R1 costs aprroximately 75,000 JPYen, which is approximately S$1000. go to simlim, and the cheapest you can get that camera for is S$1400, official selling price of S$1599.
a junior web designer in singapore (if lucky), gets a starting pay of $1500, - 20% for CPF.
a junior web designer in japan, gets a starting pay of 200,000yen, -10% for tax, + transport allowance, + medical insurance, + rent allowance. -
2.u means Japan one earns S$2700!! It looks very high!!But it take how long forOriginally posted by nismoS132:let's drive home another point.
100 JPYen is worth S$1.35.
a Sony DSC R1 costs aprroximately 75,000 JPYen, which is approximately S$1000. go to simlim, and the cheapest you can get that camera for is S$1400, official selling price of S$1599.
a junior web designer in singapore (if lucky), gets a starting pay of $1500, - 20% for CPF.
a junior web designer in japan, gets a starting pay of 200,000yen, -10% for tax, + transport allowance, + medical insurance, + rent allowance.
him or her to buy a flat of 3 bed room of 70m2?
3.hk GOVERMENT JUST PASS THE problem of deficit to next generations!!
Never in history do people agree tax rises!!
Spore cheaper than HKand Beijing
4.And when compared to Singapore, goods and services in Hong Kong are 15% more expensive, while those in Beijing are pricier by 5%.
click me
dunt jus compare one item.Housing in Spore is much cheaper
that overall make cost of living in general cheaperc for local and expat.
5.HK is experencing low reserve and heavely depends on lands sales
proceeds.Budgets have been very tight for 10 years.u ask HK people
then u know how is their lives.
6.No policy is perfect.Just Take the better one.
u can list 1000 bad points of GST,so do i can list 1001 good points.
Lets the wise men to decide.See the next generations of HK people
would praise NO GST POLICY decided in 2006?? -
This will never happen in our country as long as the 'first family' is around
-
Salary ExpectationsOriginally posted by lionnoisy:2.u means Japan one earns S$2700!! It looks very high!!But it take how long for
him or her to buy a flat of 3 bed room of 70m2?
3.hk GOVERMENT JUST PASS THE problem of deficit to next generations!!
Never in history do people agree tax rises!!
Spore cheaper than HKand Beijing
4.
quote:
--------------------------------------------------------------------------------
And when compared to Singapore, goods and services in Hong Kong are 15% more expensive, while those in Beijing are pricier by 5%.
--------------------------------------------------------------------------------
click me
dunt jus compare one item.Housing in Spore is much cheaper
that overall make cost of living in general cheaperc for local and expat.
5.HK is experencing low reserve and heavely depends on lands sales
proceeds.Budgets have been very tight for 10 years.u ask HK people
then u know how is their lives.
6.No policy is perfect.Just Take the better one.
u can list 1000 bad points of GST,so do i can list 1001 good points.
Lets the wise men to decide.See the next generations of HK people
would praise NO GST POLICY decided in 2006??
A recent graduate can expect between US$20,000 to US$31,000 per year. Chinese New Year bonuses in the amount of one month's salary are given by most employers at the end of January or beginning of February. Most companies pay in Hong Kong dollars and salaries are often quoted in HK$ per month. When negotiating a salary in Hong Kong it is important to make sure both sides know which currency is being discussed.
http://www.amcham.org.hk/hongkong/employment.html#cost
Median household monthly income in the third quarter grew to HKD 16,700, up 4.4% on the same period last year, while the median individual monthly salary rose 2% to HKD 10,000.
http://www.news.gov.hk/en/category/businessandfinance/061123/html/061123en03002.htm
Average household income is HKD 18,884 and 30.6% (HKD 5,779) goes to housing.
http://www.censtatd.gov.hk/hong_kong_statistics/statistical_tables/index.jsp?charsetID=1&tableID=54B
Average cost of 61.6 sq.m apartment = HKD 1,000,000
http://www.housingauthority.gov.hk/en/aboutus/news/pressreleases/0,,2-0-15512--0,00.html
Time required for an average household to purchase apartment in Hong Kong:
(HKD 1,000,000 / HKD 5,779) / 12 months = 14.42 years
====================================================
Average household income is SGD SGD 3,244 and 22.4% (SGD 727) goes to housing.
http://www.singstat.gov.sg/pdtsvc/pubn/softcopy/hes2003.pdf
Average cost of 3 room HDB apartment in Singapore = SGD 170,000
Time required for an average household to purchase an apartment in Singapore:
(SGD 170,000 / SGD 727) / 12 months = 19.49 years.
====================================================
Conclusion: an average Singaporean would take 5 years longer than their Hong Kong counterparts to finish paying off their housing loan.
Have you the faintest idea what is "reserves" in Singapore context? Where does the reserves come from? Do you know what is happening to OUR reserves now? Having a budget deficit once or a few times in a while is not the end of the world, it gives the economy time to restructure and focus on areas of development (instead of seeing your fellow citizens ending up on the MRT tracks as roadkill, in this case, track kill). Business cycles is not a linear line, it goes up it comes down, it's cyclical.
Have you analyse their budget 2006/2007? To increase taxes so that you can spend on areas to help stimulate the economy is one thing, increasing taxes so that you can have a bigger pay is another. In economics, it's called "Moral Hazard", a situation in which one of the parties to a contract has an incentive, after the contract is agreed, to act in a manner that brings benefits to himself at the expense of the other party to the contract.
In corporate finance, it's not good to have too much reserves, because it lowers your Return on Equity (ROE). That's why Singtel decided on a share buyback to reduce it's reserves, because they can't make that rate of return expected from them by the market. e.g. There is a difference between making a $10 profit with $200 and $100. $200: ROE = 5%; $100: ROE = 10%.
Do you know that the recent depreciation, since mid 2004 has resulted in a loss of 10% of our reserves? I would not discount a 15% to 20% loss of our reserves in afew years time.
[(1.71 - 1.54) / 1.71] X 100% = 9.94%
Why did such loss occur? A rigid system like ours will lead to more problems, because of it's inability to react to external circumstances with an appropriate response. Having 82 "Yes Sir!" people in the cabinet is not going to yield dynamic change.
You don't have to go Hong Kong to ask them about their lives, you ask me or any average Singaporean and they will tell you their lives.
According to "the Economist: world in figures 2007", Hong Kong's purchasing power is ranked 15th (77.7), whereas Singapore is ranked 24th (70.8 ); (USA = 100)
I admire you, you get all your information from ChannelNewsAsia, you are one smart aleck. Judging yourself in the mirror, you will always look perfect. But having others judge you is impartial.
lionnoisy: you were saying???
Ghandi is my idol. -
Without GST, Hongkong will have a better edge over Singapore in termsOriginally posted by PoRen:Hong Kong shelves controversial sales tax plan
Posted: 05 December hrs
HONG KONG : Hong Kong is to drop plans to introduce a goods and services tax (GST) after it failed to win enough public support for a change in the city's famously low tax environment.
Financial Secretary Henry Tang said the decision was reached after an ongoing public consultation showed that the controversial plan lacked public support.
"It is clear from the views collected that we have not been able to convince the majority to accept GST as the main option to address the tax base problem," he said.
"So we accepted that at this time we do not have the public support nor the conditions for introducing a GST. For the remainder part of the consultation we will not be advocating GST as the only option," he told reporters.
Tang did not take questions nor clarify whether the government will re-consider the policy in the future.
He said the government will stop promoting the plan over the remainder of the nine-month consultation period and urged citizens to continue to provide their views on the other possible ways to widen the tax base.
Hong Kong leader Donald Tsang said the decision has complete support from him and the Executive Council, or cabinet.
"We believe that the decision (Tang) has made respects fully the wishes of Hong Kong people that we should seriously consider widening our tax base," he said.
"At the same time he has paid full regard to the strong opposition of the people to the introduction of GST at this time," he said.
Tsang Yok-sing, Executive Councillor and the founding chairman of the pro-Beijing Democratic Alliance for the Betterment of Hong Kong (DAB), also welcomed the move.
"We opposed the GST but also believe that we should find other ways to widen the tax base ... we welcome that the government has listened to the public views," he said.
The proposal has met public hostility with protests denouncing the plan throughout the consultation period. All major political parties opposed the measure.
Activists had accused Tang of robbing the poor to pay the rich, with protesters saying a sales tax would decimate the booming tourism industry by making shopping in Hong Kong - one of its biggest draws - less attractive. - AFP/ch
of attracting Foreign Investments and Investors. Singapore plays out
herself again. How to compete with other countries in the long run? -
Execuse me, but since WHEN in the history of Singapore, did our self-glorified government EVER consulted us citizens for ANY of their implementations???
They have been shoving their crap down our throats since time began!!!
There is and has never been any two-way communications between us public and the government, don't expect any until something radically changes their friggin attitude as a government!!!
Anyway, whatever they do for us, are all about PAYING them MORE MONEY!!!
knnb...! -
I think Singapore should lower GST to 3% than raise to 7% if Singapore wants to be a really competitive than expensive place to work and live in.
If it still stubbornly raises GST to 7%, Singapore will be given the miss and that's a no brainer! -
The grass is not so green in HK!!Well done maurizio1!!Good research.
Originally posted by maurizio13:
2.The grass is not so green in HK!!
[color=darkred]Salary Expectations.....
http://www.amcham.org.hk/hongkong/employment.html#cost
Median household monthly income in the third quarter grew to HKD 16,700, up 4.4% on the same period last year, while the median individual monthly salary rose 2% to HKD 10,000.
http://www.news.gov.hk/en/category/businessandfinance/061123/html/061123en03002.htm
Average household income is HKD 18,884 and 30.6% (HKD 5,779) goes to housing.
http://www.censtatd.gov.hk/hong_kong_statistics/statistical_tables/index.jsp?charsetID=1&tableID=54B
Average cost of 61.6 sq.m apartment = HKD 1,000,000
http://www.housingauthority.gov.hk/en/aboutus/news/pressreleases/0,,2-0-15512--0,00.html
[b]Time required for an average household to purchase apartment in Hong Kong:
(HKD 1,000,000 / HKD 5,779) / 12 months = 14.42 years
====================================================
Average household income is SGD SGD 3,244 and 22.4% (SGD 727) goes to housing.
http://www.singstat.gov.sg/pdtsvc/pubn/softcopy/hes2003.pdf
Average cost of 3 room HDB apartment in Singapore = SGD 170,000
Time required for an average household to purchase an apartment in Singapore:
(SGD 170,000 / SGD 727) / 12 months = 19.49 years.
====================================================
.....
lionnoisy: you were saying???
Ghandi is my idol.[/b]
HK housing is so expensive
Average cost of public housing 61.6 sq.m apartment = HKD 1,000,000
is in remote area of TIN SHUI WAI.
hong kong map and click 12
TIN SHUI WAI ,some 30 km from CBD,is famous for family tradegy in public housing.
in WONG TAI SIN and SHA TIN,It cost S$200,000 for a 40 to 50 m2 public housing flat and S$360,000 for 55 to 60m2 .Both are considered convenient to CBD.
3.For private built housing like CITY ONE SHATIN,20 years old,lease up to year 2047.
a so called 395 sf,,but net area some 28m2 costHK$1.14m or S$220,000
a so called 562 sf,but net area 40m2,cost HK$1.90m or S$380,000.
Therefore it take 26 years for HK pple to buy a 40m2 public housing near CBD ,like Wong Tai Sin and Sha Tin (1,800,000 /5774)/12
Pl verify my words from private sales transaction in HK
for info about half of housing in HK is private built .Most of the other half
is for rental from goverment.
Interest rates
4.HK mortgage interest rates in July already above 5 %!!
http://hk.news.yahoo.com/060719/318/1qayk.html
one % of interest rate will kill u!!
HK income tax paid in one lump sum and is paid in advance,ie
your next year income is estimated and pay in this year!!
therefore HK is very common to borrow
Salaries Tax Loan pl read under LOANS of Consumer Banking.
Lot of people have to borrow fr loan shark to pay income tax.
Dunt take monthly instalemt and interest free income tax for granted.
5.Pl assess a place as package,like Set Menu. -
i only can say that we gotta live wif e GST rise BUt we gotta ensure that there will be no future rise by making e right choice in e next election
-
Originally posted by lionnoisy:
yes and after assess the hk package i am still fcuking happy to pay my HKD60K tax in coming jan ok... at least i only pay HKD1K for cpf nia...
The grass is not so green in HK!!Well done maurizio1!!Good research.
2.The grass is not so green in HK!!
[b]HK housing is so expensive
Yes it's the most expensive thing in hk already.. beside that not alot is more ex then singapore lor...
Average cost of public housing 61.6 sq.m apartment = HKD 1,000,000
is in remote area of TIN SHUI WAI.
hong kong map and click 12
TIN SHUI WAI ,some 30 km from CBD,is famous for family tradegy in public housing.
not only in tin shui wai lah...it's not so ulu ulu lah.. in tai po.. u can get a fcuking small flat at HKD 600K only.. 1M? also got lah.. it take 30 to 45 min to get to tst or wanchai or central.. about the same time i need to get to orchard from jurong..
in WONG TAI SIN and SHA TIN,It cost S$200,000 for a 40 to 50 m2 public housing flat and S$360,000 for 55 to 60m2 .Both are considered convenient to CBD.
3.For private built housing like CITY ONE SHATIN,20 years old,lease up to year 2047.
a so called 395 sf,,but net area some 28m2 costHK$1.14m or S$220,000
a so called 562 sf,but net area 40m2,cost HK$1.90m or S$380,000.
u know why it's up to 2047? cos that is the 50yrs period as SAR after 1997 lah. if it's still an SAR after that. it will be renew lah..so most private housing is freehold one or 999 yr.. not like sg 99 yrs lah..
Therefore it take 26 years for HK pple to buy a 40m2 public housing near CBD ,like Wong Tai Sin and Sha Tin (1,800,000 /5774)/12
Pl verify my words from private sales transaction in HK
for info about half of housing in HK is private built .Most of the other half
is for rental from goverment.
yes.. so what u are comparing are their private housing vs our public housing..so what u think?.. for their government housing.. it's cheap and it's not all that small.. if they got a big family... they will be given bigger flat...
Interest rates
4.HK mortgage interest rates in July already above 5 %!!
http://hk.news.yahoo.com/060719/318/1qayk.html
one % of interest rate will kill u!!
HK income tax paid in one lump sum and is paid in advance,ie
your next year income is estimated and pay in this year!!
do u know sg is talking about it already?? sg is even talking about earn as u pay scheme.. which mean like cpf u wont get to see ur money ever.. just ur first yr u will pay double.. after that it's back to normal already
therefore HK is very common to borrow
Salaries Tax Loan pl read under LOANS of Consumer Banking.
Lot of people have to borrow fr loan shark to pay income tax.
Dunt take monthly instalemt and interest free income tax for granted.
5.Pl assess a place as package,like Set Menu.[/b] -
Originally posted by lionnoisy:
Hong Kong is definitely greener than Singapore, though their housing is almost the same when compared to Singapore, but they earn a whole lot more in Hong Kong as compared to Singapore.
The grass is not so green in HK!!Well done maurizio1!!Good research.
2.The grass is not so green in HK!!
[b]HK housing is so expensive
Average cost of public housing 61.6 sq.m apartment = HKD 1,000,000
is in remote area of TIN SHUI WAI.
hong kong map and click 12
TIN SHUI WAI ,some 30 km from CBD,is famous for family tradegy in public housing.
in WONG TAI SIN and SHA TIN,It cost S$200,000 for a 40 to 50 m2 public housing flat and S$360,000 for 55 to 60m2 .Both are considered convenient to CBD.
3.For private built housing like CITY ONE SHATIN,20 years old,lease up to year 2047.
a so called 395 sf,,but net area some 28m2 costHK$1.14m or S$220,000
a so called 562 sf,but net area 40m2,cost HK$1.90m or S$380,000.
Therefore it take 26 years for HK pple to buy a 40m2 public housing near CBD ,like Wong Tai Sin and Sha Tin (1,800,000 /5774)/12
Pl verify my words from private sales transaction in HK
for info about half of housing in HK is private built .Most of the other half
is for rental from goverment.
Interest rates
4.HK mortgage interest rates in July already above 5 %!!
http://hk.news.yahoo.com/060719/318/1qayk.html
one % of interest rate will kill u!!
HK income tax paid in one lump sum and is paid in advance,ie
your next year income is estimated and pay in this year!!
therefore HK is very common to borrow
Salaries Tax Loan pl read under LOANS of Consumer Banking.
Lot of people have to borrow fr loan shark to pay income tax.
Dunt take monthly instalemt and interest free income tax for granted.
5.Pl assess a place as package,like Set Menu.[/b]
I was making coparison with Singapore non-CBD HDB with an equivalent Hong Kong non-CBD public housing.
If you want to compare central housing, you should consider both Hong Kong central public housing and Singapore central public housing.
Hong Kong:
(HKD 1,800,000 / HKD 5,779) / 12 months = 25.95 years.
Singapore:
(SGD 263,000 / SGD 727) / 12 months = 30.15 years.
*I wonder if GST is levied on HDB house sales
It still takes above 4 years longer for an average Singaporean to purchase public housing in Singapore as compared to his Hong Kong counterpart.
FYI, Singapore's mortgage rate is 5.5%.
Whether the income tax charge is paid ex ante or ex post is irrelevant. If you need to pay SGD 300 X 1% = SGD 3. $3 lost of interest income is hardly like according to you "killing".
Their interest rate for loans made to pay income tax is only 0.15%, not even 1%, considering Singaporeans who have to get credit card advance of 24% to pay income tax. Lots of Singaporeans are borrowing from loan sharks too, but not to pay income tax department, it's for their daily necessities, so fortunate of Hong Kongers, they have money to survive daily, only need money to pay income tax.
You don't have any idea how our tax system works so please don't make any comments about interest free monthly installments. Interest free montly installment is paid in advance before they make any assessment on your income.
I have some relatives who emigrated to Singapore before the handover of Hong Kong to China in 1997, after moving to Singapore for 1-2 years, they decide to move back to Hong Kong, because the business environment is more friendly.
Which school do you come from? Your teachers taught you how to compare bananas with papayas (central Hong Kong public housing with non central Singapore public housing)? Now I wonder whether our education system is as good as it was claimed to be.
To make an equitable comparison, you should use similar with similar where possible. -
2.i am happy so many eager to talk about HK.Originally posted by I-like-flings(m):yes and after assess the hk package i am still fcuking happy to pay my HKD60K tax in coming jan ok... at least i only pay HKD1K for cpf nia...
3.Is CPF in HK complusory to be invested?Thats wil earn or loss!! -
english plsOriginally posted by lionnoisy:2.i am happy so many eager to talk about HK.
3.Is CPF in HK complusory to be invested?Thats wil earn or loss!! -
Originally posted by I-like-flings(m):english pls
hehehe -
If he has no faith in the system, would he subject himself to the system?Originally posted by lionnoisy:CSJ blamed everyone excepy himself for summary judgement.
Why summary judgement?It was he failed to submit his defence
on time.If he had submitted the defence,there would be open hearing
and he might had a chance to cross exam 2 LEE.
It's equivalent to asking a buddhist monk to go for prayers in a church. -
Originally posted by maurizio13:
Ya.. lor......any how talk!
Hong Kong is definitely greener than Singapore, though their housing is almost the same when compared to Singapore, but they earn a whole lot more in Hong Kong as compared to Singapore.
I was making coparison with Singapore non-CBD HDB with an equivalent Hong Kong non-CBD public housing.
If you want to compare central housing, you should consider both Hong Kong central public housing and Singapore central public housing.
Hong Kong:
(HKD 1,800,000 / HKD 5,779) / 12 months = 25.95 years.
Singapore:
(SGD 263,000 / SGD 727) / 12 months = 30.15 years.
*I wonder if GST is levied on HDB house sales
It still takes above 4 years longer for an average Singaporean to purchase public housing in Singapore as compared to his Hong Kong counterpart.
FYI, Singapore's mortgage rate is 5.5%.
Whether the income tax charge is paid ex ante or ex post is irrelevant. If you need to pay SGD 300 X 1% = SGD 3. $3 lost of interest income is hardly like according to you "killing".
Their interest rate for loans made to pay income tax is only 0.15%, not even 1%, considering Singaporeans who have to get credit card advance of 24% to pay income tax. Lots of Singaporeans are borrowing from loan sharks too, but not to pay income tax department, it's for their daily necessities, so fortunate of Hong Kongers, they have money to survive daily, only need money to pay income tax.
You don't have any idea how our tax system works so please don't make any comments about interest free monthly installments. Interest free montly installment is paid in advance before they make any assessment on your income.
I have some relatives who emigrated to Singapore before the handover of Hong Kong to China in 1997, after moving to Singapore for 1-2 years, they decide to move back to Hong Kong, because the business environment is more friendly.
[b]Which school do you come from? Your teachers taught you how to compare bananas with papayas (central Hong Kong public housing with non central Singapore public housing)? Now I wonder whether our education system is as good as it was claimed to be.
To make an equitable comparison, you should use similar with similar where possible.[/b] -
i believe not many singaporeans would agree to have another GST hike.
be it whatever reason, we probably wouldnt have the choice to have one or not.
hikes are always for the future and for the good, so say the government but when have we really seen improvements yet we dont have to cover them back via one way or the other?
even before any improvements, eg; bus fares, we are already paying more every now and then. whatever extras we pay in tax for better lifestyle as quoted by government, we are paying more again to use them.
return the surplus budget to us also doesnt really make up the amount of money we have paid. u get $500 when u have already paid $5000 for taxes.
the poor just get poorer and the rich doesnt seem to get affected. -
1.
Originally posted by maurizio13:
i quote what maurizio13 said to reply
Hong Kong is definitely greener than Singapore, though their housing is almost the same when compared to Singapore, but they earn a whole lot more in Hong Kong as compared to Singapore.Average household income is HKD 18,884(S$3,600)and 30.6% (HKD 5,779) goes to housing.
you have to consider S$220,000 in spore ,you can buy a 90m2 flat,like
Average household income is SGD SGD 3,244 and 22.4% (SGD 727) goes to housing.
in Bedok or AMK.
While in HK,at S$220,000 or HK$1.1millin you can buy a some 30m2 flat
in SHA TIN.
2You don't have any idea how our tax system works so please don't make any comments about interest free monthly installments. Interest free montly installment is paid in advance before they make any assessment on your income.
ha?in spore u report what you earn in last year in mid April and you get assessment few months later.Then ,you can pay by instalement.
Based on actual income.
Why you says'' paid in advance before they make any assessment on your income''?This is HK income tax system!!Not Spore.HK based on estimted
of future next year income.
3.i come from U of Society.OK?It is not important where i come from.
What i say count.Based on facts.OK? -
Originally posted by lionnoisy:1.
you have to consider S$220,000 in spore ,you can buy a 90m2 flat,like
in Bedok or AMK.
While in HK,at S$220,000 or HK$1.1millin you can buy a some 30m2 flat
in SHA TIN.
Please don't distort the facts, I was comparing a Singapore HDB 3-room (67 sq.m) apartment worth SGD 263,000 in a central district, with an equivalent Hong Kong public housing apartment in Sha Tin (62 sq.m) worth HKD 1,800,000 in the central district. Don't distort your so called facts. Where did you get your data? Any links to substantiate your claims?
Original post: You don't have any idea how our tax system works so please don't make any comments about interest free monthly installments. Interest free montly installment is paid in advance before they make any assessment on your income.
ha?in spore u report what you earn in last year in mid April and you get assessment few months later.Then ,you can pay by instalement.
Based on actual income.
What part of my "Interest free montly installment is paid in advance before they make any assessment on your income." do you not understand?
Abstract from IRAS: "For example, if you have tax instalments from May 2004 to April 2005 of $100 per month, we will continue to deduct $100 per month from May 2005 until your tax liability for the current year of assessment has been finalised."
In what way does my "Interest free monthly installment is paid in advance before they make any assessment on you income" contradicts with IRAS?
Why you says'' paid in advance before they make any assessment on your income''?This is HK income tax system!!Not Spore.HK based on estimted
of future next year income.
Huh? What are you talking about? It is Singapore IRAS' basis of payment for tax payers wanting to pay by installments.
3.i come from U of Society.OK?It is not important where i come from.
What i say count.Based on facts.OK?
No comments. So where is this city of "Society"? Or is Society the name of a person? Anyway, I come from U of Association (according to your words).
-
Without GST, Hong Kong will either have to resort to increasing income and corporate taxes or cut back on welfare for the poor. If they cut welfare, they will get into hot soup with the people as well. If they increase taxes, it will be good for Singapore as it makes them less competitive.
It will reinforce Merill Lynch's call to "Sell Hong Kong, buy Singapore'. -
How do you know where or what the gahmen of hongkong is planning to do next? and do you think Beijing will stand by and watch hongkong deteriorate while its neighbouring countries benefits from it?Originally posted by oxford mushroom:Without GST, Hong Kong will either have to resort to increasing income and corporate taxes or cut back on welfare for the poor. If they cut welfare, they will get into hot soup with the people as well. If they increase taxes, it will be good for Singapore as it makes them less competitive.
It will reinforce Merill Lynch's call to "Sell Hong Kong, buy Singapore'.