Budget Day Speech 2007
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wad cup?Originally posted by CoolMyth:Poor Tharman dropped his cup. -
maybe he sell MeePok mah...so instead of selling 3.00per bowl he can use GST excuse to sell 3.50 or 16% increase.Originally posted by Darkness_hacker99:why you soo happy?
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Originally posted by Gazelle:maybe he sell MeePok mah...so instead of selling 3.00per bowl he can use GST excuse to sell 3.50 or 16% increase.
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I thought his cup is empty.Originally posted by CoolMyth:Poor Tharman dropped his cup. -
His head very shiny leh. Which polishing cream he use ar?
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Is this the first time we are digging into our reserve?
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I am too young to answer you.Originally posted by Gazelle:Is this the first time we are digging into our reserve? -
I think its his wife that shine him...not the cream...Originally posted by Darkness_hacker99:His head very shiny leh. Which polishing cream he use ar? -
Originally posted by Gazelle:I think its his wife that shine him...not the cream...
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The cup he drink water from lah.Originally posted by mhcampboy:wad cup?
You shall see the look of everyone in Parliament when it happened, including our dear PM. -
progess package giving everyone 2k so we can spent for chinese new year
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Lolx. dont bluff.Originally posted by citymax:progess package giving everyone 2k so we can spent for chinese new year -
Divide by 10 you mean.Originally posted by citymax:progess package giving everyone 2k so we can spent for chinese new year
As usual, our government very clever. -
some gst credits only
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Its funny that they didnt even mentioned anything about tobacco tax, I guess the illegal smuggling of cigratte is hitting them really hard right now. I wont be surprise they might have to reduce it to counter the influx of "tax free" cigaratte
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For something as important as a Once a YEAR BUDGET speech...
why is it the SECOND minister of Finance doing the speech.
Can the FIRST minisiter of Finance justify his pay by speaking? -
I am .Originally posted by Ponders:For something as important as a Once a YEAR BUDGET speech...
why is it the SECOND minister of Finance doing the speech.
Can the FIRST minisiter of Finance justify his pay by speaking? -
Wah, very smart hor, gst credits given out over a period of 4 years, that means next 4 years, expect no other goodies because the gst credits cover everything else.
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the word subsidy has a very different meaning when used by our gahmen.Originally posted by Gazelle:80% subsidy for post-diploma course for singaporeans..Excellent!!
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And just nice, elections' round the corner.Originally posted by ditzy:Wah, very smart hor, gst credits given out over a period of 4 years, that means next 4 years, expect no other goodies because the gst credits cover everything else. -
i hope someone will utube it.. i wan to see!Originally posted by CoolMyth:The cup he drink water from lah.
You shall see the look of everyone in Parliament when it happened, including our dear PM. 
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If they give out in one go, I am sure they will all end up at SingaporePoolsOriginally posted by ditzy:Wah, very smart hor, gst credits given out over a period of 4 years, that means next 4 years, expect no other goodies because the gst credits cover everything else. -
GST rate to increase to 7% from July 1
Posted: 15 February 2007 1735 hrs
The GST rate will be increased by two percentage points to 7% from July 1st, said Second Finance Minister Tharman Shanmugaratnam in Parliament.
In his Budget Statement on Thursday, he said it is prudent to implement the increase now in one step, while the economy is still strong.
This will raise additional revenues of $750 million this year and $1.5 billion per year going forward.
Singaporeans will be compensated with substantial offset package.
Mr Tharman says the GST Offset Package will cost the Government $4 billion in total over five years.
Of this, $1.8 billion will be given out as cash in the form of GST Credits.
All adult Singaporeans will get them in annual instalments.
The amount will depend on a person's assessable income and the annual value of his home.
The average Singaporean household will get seven years' worth of GST offset.
Lower income Singaporeans will get larger GST Credits of up to $1000 in four instalments of $250 per year over four years.
The top income group, earning $100,000 a year will get $100.
NS men and NSFs will get an additional $100 of GST Credits.
The first instalment will be paid out on July 1st, at the same time as the GST increase.
Older Singaporeans will also get more GST credits.
Two thirds of the money will be given in cash and one-third will go into their Medisave on July 1 each year.
Utilities-Save, Service and Conservancy charges and rental rebates for eligible households will be extended for five years to March 2012.
The average Singaporean households will get seven years worth of GST offset.
The government will also give a one-off property tax rebate of up to $100 per year in 2008 and 2009 for all owner-occupied residential properties.
This will benefit about one million property owners, with three and four-room HDB flat owners paying little or no property tax.
For those with children, $400 will be credited into a secondary school child's post-secondary education accounts in 2008 and $400 in 2009.
Lower income families with young children will get increased financial assistance for kindergarten and childcare.
More allowance too for pensioners, their gross pension ceiling raised from $1100 to $1140 a month.
The government will give $10 million to the Public Transport Fund and will also top up the CCC ComCare Fund by $5 million over five years.
To help lower-income families, the Government will provide $2 million over five years to self-help groups and $3 million for government-funded VWO programmes.
Summarising, the second Finance Minister says most Singaporean households will receive the GST Offset package.
The benefits will be seven times the extra GST they will have to pay each year.
The lowest income households will receive the most - for instance, two roomers will get 16 years' worth of offset. - CNA/ch
look like they are more desperate than we thought
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More good years ahead!