Singaporeans Financially Screwed
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... you think you are paying low taxes in Singapore?Originally posted by F.raon.I.R:so u want to pay high taxes juz to get free medical benefits?...
in order to maximise the usage u gonna get sick and enjoy those benefits?...
might as well think of ways to stay healthy.Eat well,excercise well,complain less.
Delusional... just HDB alone....
..more importantly of course is that with free medical benefits, you don't need to guess how much medical insurance you need to buy... -
erp... coe... high food-court prices because of high rentals.. gst... and the money gets squandered away to foreigners and some people just take the public money and out into their pockets.... and you think Singaporeans pay low taxes?
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.... Singaporean pay high hidden taxes and get back dirt...
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erp... coe... dun own car lorOriginally posted by AndrewPKYap:erp... coe... high food-court prices because of high rentals.. gst... and the money gets squandered away to foreigners and some people just take the public money and out into their pockets.... and you think Singaporeans pay low taxes?
high food-court prices... cook at home or eat at hawker centres lor
gst... suck thumb. Buy basic foodstuffs at NTUC
GST Singapore is at 7%
GST Germany was at 19% a long time ago
ERP COE expensive in Singapore
Parking outside is extremely expensive in Germany => you use your car to travel also don't know where to park it...
Money gets squandered away... Running a business always involves risk (Singapore is being run like an enterprise anyway) -
Can save one. Is whether you have the will to save or not.Originally posted by faroukalhadad:Screwed Both Ways Front and Back by the Govt
Screw Front : Rising costs of living. transport up. food up. all up.
Screw Behind : Savings in banks eroded with 0.125% interest- one of lowest in the world.
How? What is the impetus to save nowadays?
But of course there will be exceptions.. -
As usual spreading disinformation.Originally posted by AndrewPKYap:... you think you are paying low taxes in Singapore? Delusional... just HDB alone....
Don't confuse taxes with loans. That's so silly it's gotta be from you.
Similarly, stuff like ERP and tax on alcohol/fuel only apply to those who can afford it. If you're not well off enough, you won't even feel it. -
You missed the point.Originally posted by deathbait:As usual spreading disinformation.
Don't confuse taxes with loans. That's so silly it's gotta be from you.
Similarly, stuff like ERP and tax on alcohol/fuel only apply to those who can afford it. If you're not well off enough, you won't even feel it. -
As for you, your post doesn't make sense.Originally posted by faroukalhadad:Screwed Both Ways Front and Back by the Govt
Screw Front : Rising costs of living. transport up. food up. all up.
Screw Behind : Savings in banks eroded with 0.125% interest- one of lowest in the world.
How? What is the impetus to save nowadays?
The interest rate is not there to encourage you to save. It's there as a compensation for parking the money in the bank while inflation makes it worth less.
When the interest rate is so much lower than the inflation rate, the correct thing to do is to take it out of the bank to invest in a more profitable vehicle. This is, in a way also "saving".
If you were to take this line of backwards logic, I could just as easily point out that since cost of living has gone up, there is more incentive than ever to save(as opposed to spending), since it costs so much to spend money. -
Malaysians in Malaysia are more financially screwed than Singaporeans in Singapore?
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Taxes are not high in Singapore. The problem is the uneven load carried by tax payers. Only 40% of Singaporeans pay taxes and the top 10% of income tax payers contribute more than 40% of the annual tax revenue.Originally posted by AndrewPKYap:... you think you are paying low taxes in Singapore? Delusional... just HDB alone....
Those who do not pay any taxes and yet rant in this forum should be made to pay their fair share. You have no right to decide how this country should be run unless you first pay your fair share of taxes -
I think you should be gentler on the tax thingy. Its kind of elitist .A country is more than money, or am i wrong?Originally posted by oxford mushroom:Taxes are not high in Singapore. The problem is the uneven load carried by tax payers. Only 40% of Singaporeans pay taxes and the top 10% of income tax payers contribute more than 40% of the annual tax revenue.
Those who do not pay any taxes and yet rant in this forum should be made to pay their fair share. You have no right to decide how this country should be run unless you first pay your fair share of taxes 
If money was used as a yardstick to decide who has a say, dont be surprised if no one fights for the country when there is a war. They dont pay taxes, they have no say, so why should they risk their lives for their country? Let those who pay taxes and have a say, defend the country themselves. -
Originally posted by kilua:I think you should be gentler on the tax thingy. Its kind of elitist .A country is more than money, or am i wrong? If money was used as a yardstick to decide who has a say, dont be surprised if no one fights for the country when there is a war. They dont pay taxes, they have no say, so why should they risk their lives for their country? Let those who pay taxes and have a say, defend the country themselves.
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... and don't forget, when you buy a bowl of noodles, you paid taxes!!!!! But I like your idea that those that have a say should fight for the country and the suggestion by that mushroom head means that those that pay income taxes, they go to war... ....
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High taxes to get free medical benefits? Not if it doesn't also come with a safety net of welfare.Originally posted by F.raon.I.R:so u want to pay high taxes juz to get free medical benefits?...
in order to maximise the usage u gonna get sick and enjoy those benefits?...
might as well think of ways to stay healthy.Eat well,excercise well,complain less.
There is no way to be healthy if your genetic makeup cannot be controlled through conventional means.
Even healthy people have heart attacks without a reason why. -
Originally posted by hloc:
$112000 with interest @ 2.6% is $2912/yr
The opps is true..... Buy House is more important because without transport, u still need a roof over your head..... If you don't buy house, where will you stay
Under the MRT track With your parent Where Are you sure that you can't sell your house Will your $75000 car still be worth 80% of that amount 2 years down the road
My 4 room HDB flat is brought in 1998..... almost 10years. At that time I paid $112K..... now already got ppl offer $170 - $180+K.... How much will your car be worth 10years from now
The part about monkey c monkey do is correct...... S'porean see other S'porean owning Cars or living beyond their means.... and want to follow. That is where [b]Debt comes in.[/b]
If loan 10yr is $29,120,
20yrs is $58,240,
30yrs is $87,360.
If u down full then I happy for u.
Let say now I buy a $300k 5 rm(New).
Loan $200,000 @30yrs.
Int. @ 30yrs is $156,000.
Reno $30,000.
This flat come out to be $486,000.
I noe u will say sell within 5-10yrs time.
Dun forget HDB not stupid. The interest is not flat as in striaght line, the first few yrs u r paying interest(do check with ppl do accounting).
So end of the day, when u sell the comm from agent is let say 2%, $486,000 is $9,720. And all in all u need to sell at $495,720 to break even.
Pls correct me if I'm wrong. -
Speak for yourself - you paid UK taxes for a while right? In NHS now right?Originally posted by oxford mushroom:Taxes are not high in Singapore. The problem is the uneven load carried by tax payers. Only 40% of Singaporeans pay taxes and the top 10% of income tax payers contribute more than 40% of the annual tax revenue.
Those who do not pay any taxes and yet rant in this forum should be made to pay their fair share. You have no right to decide how this country should be run unless you first pay your fair share of taxes
So you have no right to say " Qu'ils mangent de la brioche ". -
Car is talking about usage, $54,000 car loan $24,000 @ 2.5% for 4 yrs is $2,500.Mthly $1,272.Originally posted by hloc:Will your $75000 car still be worth 80% of that amount 2 years down the road
Total $56,000. If deduct OMV after 10yr for scrap is $8,000. the total amount is $48,000, which mean 1 yr is $4,800 depreciate. If petrol is $2/L and mth @ $300/mth. 10yr usage is $36,000. Road tax $960/yr 10yrs is $9,600. Ins $1000/yr 10 yrs is $10,000. Parking $90/mth 10 yr is $10,800. Total usage is $114,400 for 10yr.
ERP,Servicing excl.
If U clock 300,000km
,then is about 38cent/km. I take bus 1 busstop is about 2km away, which is 70cent.
Anyway it's all depend on usage.
1 thing is if u change car often then is diff story. U will lugi more, about $10-15k. -
38 cents / km?Originally posted by T.Ryousuke:Car is talking about usage, $54,000 car loan $24,000 @ 2.5% for 4 yrs is $2,500.Mthly $1,272.
Total $56,000. If deduct OMV after 10yr for scrap is $8,000. the total amount is $48,000, which mean 1 yr is $4,800 depreciate. If petrol is $2/L and mth @ $300/mth. 10yr usage is $36,000. Road tax $960/yr 10yrs is $9,600. Ins $1000/yr 10 yrs is $10,000. Parking $90/mth 10 yr is $10,800. Total usage is $114,400 for 10yr.
ERP,Servicing excl.
If U clock 300km
,then is about 38cent/km. I take bus 1 busstop is about 2km away, which is 70cent.
Anyway it's all depend on usage.
1 thing is if u change car often then is diff story. U will lugi more, about $10-15k.
You didn't factor in the cost of car, maintenance, parking, road tax..........? -
Let say servicing is $20,000 and ERP is $20,000 then is will come out about 51 cent/km.Originally posted by maurizio13:38 cents / km?
You didn't factor in the cost of car, maintenance, parking, road tax..........? -
From your calculation of $114,400 / (300km x 12mths x 10 yrs):Originally posted by T.Ryousuke:Let say servicing is $20,000 and ERP is $20,000 then is will come out about 51 cent/km.
It's already $3.18 /km. -
I'm saying that the govt should raise interest rates.
Think about it:
Banks make loans at 24% p.a.
Banks give us interest of 0.125% !!!
Imagine the amount of money they make and how much we are short changed. Meanwhile govt makes tons of money tru their DBS banks etc. -
Sorry it's 300,000km for 10yrs.Originally posted by maurizio13:From your calculation of $114,400 / (300km x 12mths x 10 yrs):
It's already $3.18 /km. -
If you can't afford it.... why get a 5 roomOriginally posted by T.Ryousuke:$112000 with interest @ 2.6% is $2912/yr
If loan 10yr is $29,120,
20yrs is $58,240,
30yrs is $87,360.
If u down full then I happy for u.
Let say now I buy a $300k 5 rm(New).
Loan $200,000 @30yrs.
Int. @ 30yrs is $156,000.
Reno $30,000.
This flat come out to be $486,000.
I noe u will say sell within 5-10yrs time.
Dun forget HDB not stupid. The interest is not flat as in striaght line, the first few yrs u r paying interest(do check with ppl do accounting).
So end of the day, when u sell the comm from agent is let say 2%, $486,000 is $9,720. And all in all u need to sell at $495,720 to break even.
Pls correct me if I'm wrong. Get a 4 room will do. Why put yourself in extra debt if you can't afford it
And by the way...... I'm not planning to sell my house. Not in 5 years..... not even in 10-15 years. Why u may ask.... because a 4 Room is enough for me and my family. I don't buy a HDB to 'Invest'...... I buy one to have a HOME.People who buy and sell their unit to 'earn' some cash like changing underwear is basicly getting themselves in trouble.
If your present unit can sell at a high price, it simply means that the unit you buy next will be similar high in price...... U at the same time restart your loan from HDB or the Bank. And since most of us only get older and not younger...... you will have less numbers of years to repay your loan..... therefore, higher monthly payment.
The problem is when S'porean sees others cashing in on their unit and 'earning' $50-$70K in cash each..... they want to join in. Not thinking that instead of only needing to pay till they are 55...... now the loan won't end till they are 65. Theres already enough ppl at my work place having this problem that I learn not to join them.
So now, instead of mthly payment of $700-1K like my friends..... I pay only from my CPF $438 a mth...... not even need to top-up with cash. -
Now 4rm resale r asking for 300k at places like Sengkang. The point here why ppl get stuck financially is bcos they din c the interest behind the loan, that is the 1 dat many ppl being caught off after selling their house. Car interest is in $6-$10k thing but housing is of $50k-$200k kind of range.
To a couple 1k per mth mean 500 each, which to them is still can manage. 1 thing is u will buy high and sell high, so look no diff to me. -
exactly
the standard of living in sg is just fine.
It's kinda wierd how Andrew is now defending ppl who spend over their capacity when he's so against speculators.