Can sg be more competitive non-salary wise?
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Hi
lowering wages to me is the most commonly used way to be competitive.
sg costs have risen greatly. salary should not go down to please the employers who earn more and more. Rich are earning more. 10% more.
salary is basically stagnant to me, except the news just report 3% rise.
of course, I must say, I believe, given our bombasticos are so stedi and honest and never lie wan.
but Hong Kong is more competitive than sg in the following few aspects that come to mind :
1. Z E R O G.S.T. that means zilch gst to pay.
2. Z E R O Estate Duty. that means zilch Estate duty.
3. substantially lower income tax : 5% less.
can sg be competitive in other ways that do not need to further lower the employees in sg and instead increase income by lowering tax? meaning, salary can remain low but income tax can lower and thus resultant income is able to offset the rising costs. so many, if not everything, has price risen. the meagre pay rise, if any, is difficult to cover the numerous price rises. cost of living certainly appears to continue to go up.
can sg remain competitive without keep lowering salaries?
what else can it do to meet the challenges of the new era?
HK seems doing better.
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nice idea, but it will not work
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1. Z E R O G.S.T. that means zilch gst to pay.
2. Z E R O Estate Duty. that means zilch Estate duty.
3. substantially lower income tax : 5% less.
1. Hong Kong has 5% GST
http://en.wikipedia.org/wiki/Goods_and_Services_Tax_(Hong_Kong)
2. Singapore's Estate Duty Act has exemptions, so those with lower assets need not pay as much
http://www.iras.gov.sg/ESVPortal/others/estate/estate+duty-estate+duty+exemption.asp- Nil to HK$35,000 - 2%
- HK$35,000 to HK$70,000 – 7%
- HK$70,000 to HK$105,000 – 12%
- HK$105,000 upwards – 17%
- Nil to SGD$20,000 - 0%
- SGD$20,000 to SGD$30,000 – 3.5%
- SGD$30,000 to SGD$40,000 – 5.5%
- SGD$40,000 to SGD$80,000 – 8.5%
- SGD$80,000 to SGD$160,000 – 14%
- SGD$160,000 to SGD$320,000 – 17%
- SGD$320,000 upwards – 20%
Is HK's income tax is lower for the lower income group? Do you prefer to tax the rich more or the poor more?
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1. Hong Kong GST There was a proposal to implement GST last year, but it had been shelved because of the objection from public. 2. Hong Kong Estate Duty There is "Estate Duty" in HK, we call it Rate and Rent in HK. Recently, the rate is waived due to government surplus. 3. Hong Kong Income Tax Basic Tax free allowance: HK$108,000 After Basic Tax free allowance, The first HK$35,000 - 2% HK$35,000 to HK$70,000 – 7% HK$70,000 to HK$105,000 – 12% HK$105,000 upwards – 17%
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oops... my mistake
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Can ~
But can you be as productive as the Hong Kongers?
They work like there is no tomorrow. Singaporeans want me time, complain about long work hours, cannot be scolded etc etc.
If you talk about USA, they have a minimum wage in place and high salary paid out but they are still competitive? Why? Because they are very productive. Productivity is high, planning is good, and despite the long hours and tough conditions (you should visit a USA meat processing plant if you have the chance), the people remain chirpy with high morale.
The average Singaporean cannot compete with the average Hong Konger in terms of productivity. They also dun have the Hong Kong never say die attitude.
So unless we change, we can just stay here and bitch and cry and nothing ever changes.
What can employers do? Since Singaporeans are impossible to motivate to be more productive and want high pay and easy job, the easiest way is to cut salary.
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Originally posted by elindra:
Can ~
But can you be as productive as the Hong Kongers?
They work like there is no tomorrow. Singaporeans want me time, complain about long work hours, cannot be scolded etc etc.
If you talk about USA, they have a minimum wage in place and high salary paid out but they are still competitive? Why? Because they are very productive. Productivity is high, planning is good, and despite the long hours and tough conditions (you should visit a USA meat processing plant if you have the chance), the people remain chirpy with high morale.
The average Singaporean cannot compete with the average Hong Konger in terms of productivity. They also dun have the Hong Kong never say die attitude.
So unless we change, we can just stay here and bitch and cry and nothing ever changes.
What can employers do? Since Singaporeans are impossible to motivate to be more productive and want high pay and easy job, the easiest way is to cut salary.
brutally true
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Originally posted by elindra:
Can ~
But can you be as productive as the Hong Kongers?
They work like there is no tomorrow. Singaporeans want me time, complain about long work hours, cannot be scolded etc etc.
If you talk about USA, they have a minimum wage in place and high salary paid out but they are still competitive? Why? Because they are very productive. Productivity is high, planning is good, and despite the long hours and tough conditions (you should visit a USA meat processing plant if you have the chance), the people remain chirpy with high morale.
The average Singaporean cannot compete with the average Hong Konger in terms of productivity. They also dun have the Hong Kong never say die attitude.
So unless we change, we can just stay here and bitch and cry and nothing ever changes.
What can employers do? Since Singaporeans are impossible to motivate to be more productive and want high pay and easy job, the easiest way is to cut salary.
Well said
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There are other ways to be competitive.
Government may grant tax breaks.
Government may grant subsidies.
Government may pass laws to bolster business.
Government may change spending habits to bolster business.
Government may take on the intial burden to set up then hand over to business to manage.
Companies may replace labor with Technology to lower costs.
Companies may supplement labor with technology to increase productivity.
Companies may source for cheaper materials.
Companies may source for cheaper labor.
Companies may streamline production processes.
Companies may reduce wastage.
Companies may lobby for changes in laws to bolster business.
Companies may diversify.
Companies may specialize.
Companies may enjoy economies of scale.
Individuals may ...
become "more" productive? never say die? accept lower salaries? Make Plans? Don't have "me" time? Allow themselves to be scolded? Allow themselves to be worked long hours? "Change" without bitching and crying?
All hail WeeShuMinism and her diciples.
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Originally posted by phil30k:
There are other ways to be competitive.
Government may grant tax breaks.
Government may grant subsidies.
Government may pass laws to bolster business.
Government may change spending habits to bolster business.
Government may take on the intial burden to set up then hand over to business to manage.
So in summary the Government have to babysit companies to make they competitive in the Global market? They have to use your tax money to subsidize companies like how the Bumis are doing in Malaysia. The Government have dunno what SME fund etc to help SMEs but to take on the initial burden....Put it this way...it is human to take things for granted.
Companies may replace labor with Technology to lower costs.
Companies may supplement labor with technology to increase productivity.
Companies may source for cheaper materials.
Companies may source for cheaper labor.
Companies may streamline production processes.
Companies may reduce wastage.
Companies may lobby for changes in laws to bolster business.
Companies may diversify.
Companies may specialize.
Companies may enjoy economies of scale.
Don't complain then if you get axed because you got replaced by technology then. Sure, we already have FTs to be more productive. Isn't FTs what everyone is bitching about right now? Steamlining production processes = more axes too. Diversity usually requires you taking on more responsibilities. Are you ready for that? If you decide to specialize instead of diversifying, you need the skills and be ready to respond immediately to the fast changing environment. Are you? To enjoy economies of scale you need to build up a customer base and expand your markets which ultimately boils down to more work too, and lots and lots of planning. Are Singaporeans ready to do that, to search for answers instead of waiting for the solution to drop onto their laps?
Individuals may ...
become "more" productive? never say die? accept lower salaries? Make Plans? Don't have "me" time? Allow themselves to be scolded? Allow themselves to be worked long hours? "Change" without bitching and crying?
So you are saying ultimately every single Singaporean should not be responsible for their own lives and not look at themselves and should instead put the blame on the Government not doing more and Companies being slave drivers and only know how to exploit Singaporeans? This is not an elitist attitude. Seriously you will be scared if you see how the Chinese in Shanghai are working and even the Thais (Thank god that their political situation is so fluid)!!
How about some self-reflection before pointing fingers to everyone else to solve the problem? Of course there are things the Government can help but they cannot provide the answer to everything, or does the truth hurt?
Anyway, what is wrong being more productive and having the never say die attitude. What is wrong with planning for yourself and your family? What is wrong with change? What is wrong being told off because you did a silly mistake? The problem is Singaporeans think too highly of themselves. Btw I'm Singaporean and not some FT snatching your rice bowl.
All hail WeeShuMinism and her diciples.