Taxes: Singapore Vs. Australia. Who is better off?
-
One question:Originally posted by maurizio13:1) Total taxpayers are only 731,348, while CPF Board shows 1,324,368 active members. Therefore the difference between the two figures are assumed to be the low income earners, who make less than $20,000 a year and shown in IRAS's statement as zero (under IRAS's below $20,000 row and Resident column).
Were any who claimed tax reliefs and rebates included in the $0?
Edit:
I believe if we really want to compare figures, we should take into account a few income groups, high, middle and low, their average wages, the taxes, and finally the spending power. However, this still excludes the cost of living, and any environmental benefits, like better weather in Aussie, etc, in the definition of who is better off -
After getting a job on graduation, paying your first income tax the following year, you will know the meaning of "assessable income".Originally posted by eagle:One question:
Were any who claimed tax reliefs and rebates included in the $0?
Edit:
I believe if we really want to compare figures, we should take into account a few income groups, high, middle and low, their average wages, the taxes, and finally the spending power. However, this still excludes the cost of living, and any environmental benefits, like better weather in Aussie, etc, in the definition of who is better off
The subject was too short to write the full title, therefore it was condensed to "Taxes: Singapore Vs. Australia. Who is better off?" instead of "Taxes: Singapore Vs. Australia. Are the low wage workers in Australia better off or the low wage Singapore workers better off?"
Why would anyone bother about the high income earners? They already have more than enough to spend after paying off their taxes. I am mainly concern about the poor's spending power after taxes. Next you will be asking me to make it so that the low income gets richer, the middle income gets richer and the high income gets richer.
Would you bother about the spending power of a person making half a million dollars a year after taxes?
Maybe I should rewrite the first post, to prevent others from posting "why aren't we comparing those people making $1,000,000?". -
The subject title field is long enough for you to put the following as titleOriginally posted by maurizio13:The subject was too short to write the full title, therefore it was condensed to "Taxes: Singapore Vs. Australia. Who is better off?" instead of "Taxes: Singapore Vs. Australia. Are the low wage workers in Australia better off or the low wage Singapore workers better off?"
Taxes: Poor in Singapore Vs. Australia. Who is better off?
It is up to the threadstarter to have a subject title relevant to the topic at hand.
In addition, the income inequality in Australia seems worse than in Singapore. By comparing the averages between Australia and Singapore, it might be that poor Australians might have a worse overall spending power.
Anyway, since you have edited your first post to include
***This comparison is based only on the after tax spending power of low wage earners of both countries. I do not think that we need to compare the after tax spending power of high income earners, because they are still extremely well off after taxes.***,
let's talk about the lower income workers.
The main reason why their pay is higher is due to the minimum wage law
With regards to http://www.docep.wa.gov.au/lr/labourrelations/content/Wages%20and%20Conditions/Wages%20and%20Awards/Pages/Minimum%20Wage%20Rates.html
the minimum wage for a full-time worker is $528.40 for workers > 21 years old, which translates to AU$27,476.80 per year.
Thus, your comparison merely lists out the difference between what a minimum wage law could give a waiter in terms of spending power.
The question here is, how accurate is your analysis from your calculations when you compare a profession known to have a very low pay, in a country without a minimum wage law vs a country with a minimum wage law? -
HOLY OILY PRATA!~!!!!
i cant imagine the top 20% are taking near 60% of the national income..
the rest of the common folks like us haf to live on hamburgers...
i guess it`s no doubt our gap is way too far man.. -
Which is the main reason why they do not feel as much the pinch of a GST raise, bus fare raise, taxi fare raise, as much as common folks and students.Originally posted by BaByBoY:HOLY OILY PRATA!~!!!!
i cant imagine the top 20% are taking near 60% of the national income..
the rest of the common folks like us haf to live on hamburgers...
i guess it`s no doubt our gap is way too far man..
But we don't live on hamburgers; still too expensive. Cai Peng is still cheaper for the amount of nutrition. -
Dont stay too close to the city then stay further away... houses aat Caroline Springs in Melbourne 240k.... and in SG it would be a bungalow..... about an hours drive to city.Originally posted by Great_One:Right now is not the price but the affordability of the public. As stated in the my previous post, Australia is facing a housing affordability crisis. It means the average person can no longer afford a house than the average person a few years ago.
As show in this link (http://www.demographia.com/dhi-ix2005q3.pdf), Australia as you can see has no cities even in the affordable range. Scary eh X_X
450k ++ for house are good areas
-
There are still others in the forum that don't agree that Australia has a much favourable tax system for the poor and lower middle class.
Maybe they can provide some feedback here to see if Singapore with it's low income tax rate is truly favourable for the low income and lower middle income earners. -
I refer to the post in another thread so as not to hijack
I strongly agree that the rich and the higher middle income should be shortchanged rather than the lower income. However, your basis of comparisons with those affected by the minimum wage law in Aussie only shows that a minimum wage enables low income earners to better afford necessities. True, it illustrates your point, but it encompasses that most important difference of minimum wage.Originally posted by maurizio13:Didn't I already explain to you the basis of comparing the lower wage earners of each country?
Surely these low wage earners have problems with basic necessities as compared to middle or high wage earners.
Doesn't it sound stupid to make comparison with citizens of both countries making millions a year?
Both of these millionaires regardless of the taxes are still able to afford necessities.
When you want me to make comparisons with the low, medium and high income earners. What do you want to prove? That somebody will be shortchanged by the tax system? You can't please all the income classes, somebody will be shortchanged, I'd rather the rich and the higher middle income be shortchanged rather than the lower income. The higher income with their large paychecks do not have to struggle with necessities.
I hope this answer your question.
What we are concern with is low income earner's ability to afford necessities, not with the middle or high income earner's ability to afford luxuries.
I would think it more convincing, at least for me, if the profession chosen is one that is a little above the minimum wage (so as not to be affected by it) compared to the same profession in Singapore. That, I'm sure, would still be considered low-income, and will serve as a better comparison.
Bear in mind, I've already started discussing low-income since you have stated your stand, if you haven't already noticed. -
Why even compare us with a resource rich country that has "The Lucky Country" for a nickname.
Compare most countries with Australia and you would still find that the Aussies are better off. -
Originally posted by kramnave:Why even compare us with a resource rich country that has "The Lucky Country" for a nickname.
Compare most countries with Australia and you would still find that the Aussies are better off.
Agriculture and natural resources comprise 3% and 5% of GDP but contribute substantially to AustraliaÂ’s export performance. -
Your point being ?Originally posted by maurizio13: -
So you what you are implying is Australia is much better than Singapore, if Australia accepts any Singaporean as a citizen, they should grab it.Originally posted by kramnave:Why even compare us with a resource rich country that has "The Lucky Country" for a nickname.
Compare most countries with Australia and you would still find that the Aussies are better off. -
Originally posted by kramnave:Your point being ?
Agriculture and natural resources comprise 3% and 5% of GDP but contribute substantially to AustraliaÂ’s export performance.
Burma's rulers depend on sales of precious stones such as sapphires, pearls and jade to fund their regime. Rubies are the biggest earner; 90% of the world's rubies come from Burma, whose red stones are prized for their purity and hue.
Unfortunately in the new world economy, possession of natural resources does not necessarily ensure a high GDP per capita. These day, more emphasis is placed on technology unlike the past, even sand can be made into powerful processors. -
No, what I'm implying is that Australia on a whole can probably do more for it's citizens as compared to Singapore. They have the resources(natural, tourists etc) to do that. Whether a Singaporean will be better off there is a different story as it depends on your luck, industry, ability etc.Originally posted by maurizio13:So you what you are implying is Australia is much better than Singapore, if Australia accepts any Singaporean as a citizen, they should grab it.
I'm not taking anything from their government. I think they have done a good job for harnessing what they have.Originally posted by maurizio13:
Agriculture and natural resources comprise 3% and 5% of GDP but contribute substantially to AustraliaÂ’s export performance.
Burma's rulers depend on sales of precious stones such as sapphires, pearls and jade to fund their regime. Rubies are the biggest earner; 90% of the world's rubies come from Burma, whose red stones are prized for their purity and hue.
Unfortunately in the new world economy, possession of natural resources does not necessarily ensure a high GDP per capita. These day, more emphasis is placed on technology unlike the past, even sand can be made into powerful processors.
True we do not have much resources and yet our GDP is relatively high on the world stage, thus it takes good governance.
How rubies compare to the likes of steel, uranium, oil, coal etc i won't comment but Australia does attract heaps of tourists who visit vineyards, beautiful beaches, resorts etc and of course those who seek education. -
Can we raise salary levels comparable to their levels ? Can we attempt to generally knock off from work at the hours they do ? Perhaps but that will drive business costs up and how we are going to retain foreign investments is something i got no solution to as well.
-
That said, if one can migrate there, can get a better job and salary, have no commitments back here then go ahead as one can enjoy the beaches, the wine, the fishing, the scenery, the weather etc.
-
Grass is also greener in other side of the fence!!
one fifth Britons want to leaveAugust 27, 2006
2.Sg is a free and democratic country.
10m want to quit 'over-taxed' UK
David Cracknell, Political Editor
ONE in five Britons — nearly 10m adults — is considering leaving the country amid growing disillusionment over the failure of political parties to deliver tax cuts, according to a new poll.
The extensive survey conducted by ICM, the polling company, shows that — contrary to the current approach of both Labour and the Tories — an overwhelming majority of voters do want to see cuts in income and inheritance tax.
The results will raise alarm in both political camps, but particularly for David Cameron, who has yet to solidify the ConservativesÂ’ lead over Labour in the opinion polls. ..
The red little book can help u emigrate.Quota for SG people
or embassy in SG is more then enough.... -
Good pt there eagleOriginally posted by eagle:I refer to the post in another thread so as not to hijack
I strongly agree that the rich and the higher middle income should be shortchanged rather than the lower income. However, your basis of comparisons with those affected by the minimum wage law in Aussie only shows that a minimum wage enables low income earners to better afford necessities. True, it illustrates your point, but it encompasses that most important difference of minimum wage.
I would think it more convincing, at least for me, if the profession chosen is one that is a little above the minimum wage (so as not to be affected by it) compared to the same profession in Singapore. That, I'm sure, would still be considered low-income, and will serve as a better comparison.
Bear in mind, I've already started discussing low-income since you have stated your stand, if you haven't already noticed.
I'll lend a hand
http://www.britzinoz.com/info/wages.htm
3k+AUD take home at 53-54k
so taking 3k x 1.27 = 3810sgd for an average punk -
And the rich won't affect that data much as they get taxed VERY high at that bracketOriginally posted by genie99:Good pt there eagle
I'll lend a hand
http://www.britzinoz.com/info/wages.htm
3k+AUD take home at 53-54k
so taking 3k x 1.27 = 3810sgd for an average punk
-
So true..... that's why most who go over the fence don't ever come back LOL ....... don't mind me....Originally posted by lionnoisy:Grass is also greener in other side of the fence!!
But anyways I still want to come back at a certain time .... for a holiday or whatever....meybe when i retire -
Income taxes 15% more, but salaries are 3 times more for low wage workers.Originally posted by genie99:So true..... that's why most who go over the fence don't ever come back LOL ....... don't mind me....
But anyways I still want to come back at a certain time .... for a holiday or whatever....meybe when i retire
I don't mind going if they accept me. -
Take a Cooking Diploma lor. Can apply PR there. However if you can't find a job please be warned that Chinese restaurants do pay AU$10.00 or less for service staff.Originally posted by maurizio13:Income taxes 15% more, but salaries are 3 times more for low wage workers.
I don't mind going if they accept me. -
http://www.lecordonbleu.com.au/
A lil pricey but you do not want to work for the exploitative Chinese. Seriously consider this if you want to migrate. Some investment needed while u r getting your qualification. -
If a waiter already get so high pay,then how about skilled workers?
How can Oz goods and services compete in the world?
Besides milk,beef and muttons,I cant find other goods fr Oz. -
coal, iron ore, gold etc etcOriginally posted by lionnoisy:If a waiter already get so high pay,then how about skilled workers?
How can Oz goods and services compete in the world?
Besides milk,beef and muttons,I cant find other goods fr Oz.