Hi... I am pretty pleased o know that recnt changes in the medical and education policies have been implemented but the fruits are yet to be seen.
But remember, and positive move should be carefuly ensure that it doesnt get offsetted by an equally negative move which will bring us ll back to square one...
My suggestions to u though this may be a bit harsh.
1)let in more foreigners and once the required number of foreigners are met. Levy a tax on them like% of the earnings of PR and use it to help citizes. This tax be removed on them once they become citizens. Reasons being the reason why these foreigners could be here is mainly attributed to monetary gains and since its a cut throat business world out there
Rationale behind this would be to ensure that those
who truly want to stay as Singapore citizens would have probably liked the country and continue to contribute to its success.
and to add on further, Singapore is not the only country asians migrate to, there are others like Canada, Australia and US which they can go too. Remememberglobalisation a business game which the countries are playing
2) Exemptions in Tax be given to those PR who choose to have a family of 2 kids or more to help the birth rate problem and further reduced if their children were to serve NS (full time) and 10 years liability
3) The above 2 measures may be useful in curbing the emigration problem and not a stepping stone or transit stop over island for foreigners to migrate to "greener pastures"
im sure ur letter will be reviewed seriously.
draconic measures put to good use...
the General thinking of migrants is that of the Peripatetic nomads who are more common in industrialized nations, traveling from one territory to another and offering a trade wherever they go.
They shift their places according to which terrain suits them best
its also why people under visa in countries like Australia need to pay taxes and certain benefits not available to them...Its to ensure exploitation from taking place.
what singapore is doiing is gambling on these foreigners and hoping to win a jackpot
But what may ensure may very well be a pithole
Globalistation has exploded into huge market now.
If the Singaporean lifestyle was that attractive, people won't be leaving. Lets face it, I believe the major pull factor here for foreigners is money and relative lower cost of living. If you are gonna tax them heavily, they might as well stay in their own country or move to our competitors with lower tax.
Originally posted by kramnave:If the Singaporean lifestyle was that attractive, people won't be leaving. Lets face it, I believe the major pull factor here for foreigners is money and relative lower cost of living. If you are gonna tax them heavily, they might as well stay in their own country or move to our competitors with lower tax.
I see lots of asians say Australia Canada and US are heir preferred residence and these countries Tax is higher than in singapore..And they dont mind staying in that countries rather than in Singapore and the main reason is this:
1In those countries, there is social security even though u pay a much higher Tax for living but in the long run it comes back to u in the form of old age benefits and social security. In Singapore its a lower tax but there is no social security available . and given the low wages mandated, its a disaster scenario. and there is no balanced proportional cost of living to the wages. anyone would always look at the long term benefits than the short ones. In this case
High tax results in long term benefits eventually (commonwealth)
Low Tax results is a short term benefit ( Singapore)
do i make sense?
Originally posted by Melbournite:I see lots of asians say Australia Canada and US are heir preferred residence and these countries Tax is higher than in singapore..And they dont mind staying in that countries rather than in Singapore and the main reason is this:
1In those countries, there is social security even though u pay a much higher Tax for living but in the long run it comes back to u in the form of old age benefits and social security. In Singapore its a lower tax but there is no social security available . and given the low wages mandated, its a disaster scenario. and there is no balanced proportional cost of living to the wages. anyone would always look at the long term benefits than the short ones. In this case
High tax results in long term benefits eventually (commonwealth)
Low Tax results is a short term benefit ( Singapore)
Depends on what kinda person you are and what lifestyle you wanna lead.
If you don't save and don't invest then obviously you are better off with the pay tax now enjoy later system. If you earn 20k in sg you don't pay tax and get some comcare later if there are no other ways for you to survive and after your CPF is depleted. If you earn 20k in AU you pay $2100 in taxes but get a lifelong income stream from the taxes other workers are paying. Obviously you are better off in Australia in that sense.
If you earn $150,000 you pay $14,100 in taxes (9.4%) whereas in Australia you pay $47,100 (31.4%).
Singapore top income tax bracket of $640,000 you pay $128,000 (20%) whereas in Australia you pay $288,000 (45%).
It depends on what you do and what kinda person you are. Suppose you invest your money and save, obviously you are not going to get back the premium you pay and you are better off in Singapore than in Australia. If you don't save at all and don't invest your money and am happy with the lifestyle the old age pension money brings (about $1k a month) then splurge all your cash before you hit retirement then you are better off in Australia.
Originally posted by kramnave:Depends on what kinda person you are and what lifestyle you wanna lead.
If you don't save and don't invest then obviously you are better off with the pay tax now enjoy later system. If you earn 20k in sg you don't pay tax and get some comcare later if there are no other ways for you to survive and after your CPF is depleted. If you earn 20k in AU you pay $2100 in taxes but get a lifelong income stream from the taxes other workers are paying. Obviously you are better off in Australia in that sense.
If you earn $150,000 you pay $14,100 in taxes (9.4%) whereas in Australia you pay $47,100 (31.4%).
Singapore top income tax bracket of $640,000 you pay $128,000 (20%) whereas in Australia you pay $288,000 (45%).
It depends on what you do and what kinda person you are. Suppose you invest your money and save, obviously you are not going to get back the premium you pay and you are better off in Singapore than in Australia. If you don't save at all and don't invest your money and am happy with the lifestyle the old age pension money brings (about $1k a month) then splurge all your cash before you hit retirement then you are better off in Australia.
From the calculations in your post, it's quite obvious that you are clueless about the taxation system in Singapore and Australia.
Are you still in school?
Originally posted by maurizio13:
From the calculations in your post, it's quite obvious that you are clueless about the taxation system in Singapore and Australia.
Are you still in school?
Correct me then
Originally posted by kramnave:Correct me then
this is where you should start....
http://www.ato.gov.au/individuals/content.asp?doc=/content/12333.htm&mnu=5464&mfp=001/002
Originally posted by redDUST:this is where you should start....
http://www.ato.gov.au/individuals/content.asp?doc=/content/12333.htm&mnu=5464&mfp=001/002
Yah ? and what you want me to do ? add in the levies and deduct your tax deductible expenses ?
Perhaps the differences in taxation is the reason for the lower Gini Coefficient in Australia (smaller income inequality).
Originally posted by kramnave:If the Singaporean lifestyle was that attractive, people won't be leaving. Lets face it, I believe the major pull factor here for foreigners is money and relative lower cost of living. If you are gonna tax them heavily, they might as well stay in their own country or move to our competitors with lower tax.
on the surface, to a tourist coming from a 3rd word, the pore is nice looking with the modernities.
whole country done a good job developing the 1 small city.
But the Quality of Life is so poor, they have to have a city wide search and hunt for the happy person.
after a few days, any tourist would have finished touring the entire city including sentosa and after a few months, they would start to look at JB and Thailand and Bali.
so, its obvious that FTs enjoy the ease to come here and take a job. To make things easier for them to work here, they simply apply for PR. but how many willing to give up their own citizenship?
They enjoy the relatively low tax and they dont buy expensive things like a car or pay for ERP or COE or parking or petrol or maintenance or fines EVEN though their pay of 5k -20k can easily afford that.
they intend to save and then return and retire back home and become rich men and women.
at the end of the day, similarly qualified locals are the ones who gets to compete with them. FTs do not require CPF and lease HDB for 99 years or own a car for the family. their retirement need not be here where medical costs will be higher than ever. so, they do not need as high a salary.
its easy quote globalisation as reason for hiring FTs. Its a national development issue to ensure locals welfare is addressed. that is why talents are paid to do such kinds of jobs.
Originally posted by FireIce:im sure ur letter will be reviewed seriously.
Nah, I am sure the letter will end up in the rubbish bin cause it goes again the gov policy. The gov will said this will make Singapore less attractive and lose the FT to other countries.
Originally posted by kramnave:Yah ? and what you want me to do ? add in the levies and deduct your tax deductible expenses ?
there are ways for tax reduction. but i wont share it.
Originally posted by fishbuff:there are ways for tax reduction. but i wont share it.
Yeah whatever, I'm not about to calculate somebody's maid relief, NS relief, parent relief, spouse relief as well....that's it , gross estimated tax payable without any form of tax reduction.
Originally posted by kramnave:Yeah whatever, I'm not about to calculate somebody's maid relief, NS relief, parent relief, spouse relief as well....that's it , gross estimated tax payable without any form of tax reduction.
there is no maid, parent or ns relief here in oz.
Originally posted by fishbuff:there is no maid, parent or ns relief here in oz.
There is obviously no NS relief in Australia isn't it ?! I don't know if you are trying to reiterate that you are Australian now or just can't see that the point that there is not tax reduction calculations in what i was saying or you became an Aussie farmer.
Originally posted by kramnave:There is obviously no NS relief in Australia isn't it ?! I don't know if you are trying to reiterate that you are Australian now or just can't see that the point that there is not tax reduction calculations in what i was saying or you became an Aussie farmer.
well, u keep repeating the same old usual ignorant and shallow knowledge on the lifestyle in australia in this forum similar to tch05, lionnoisy and all the ignorant sinkies. have u ever live and work here? i dont think so!
Originally posted by fishbuff:well, u keep repeating the same old usual ignorant and shallow knowledge on the lifestyle in australia in this forum similar to tch05, lionnoisy and all the ignorant sinkies. have u ever live and work here? i dont think so!
I used to study in Sydney but did not live in the other states which are pretty much different. So what have i said that is shallow and ignorant ?
So levy a heavy tax on all foreigners, first generation PRs, Singapore women and those men who do not serve NS for whatever medical reasons. Some women will say they have served national service by giving birth. If you buy that argument, what do we do with those who have not children? Tax them or forcibly impregnate them?
Originally posted by kramnave:I used to study in Sydney but did not live in the other states which are pretty much different. So what have i said that is shallow and ignorant ?
Interesting.....
Which part of Sydney did you live in?
What course did you take?
Which University did you attend?