GST Offset Package
-
at least got 5cents back lah
-
We get $200-$350 for GST package per year, more like micronut GST offset, while they get thousand to million rise per year. Their is more like GST offset forever, comfort, coconut pay.
-
then how?Originally posted by sunnytv:We get $200-$350 for GST package per year, more like micronut GST offset, while they get thousand to million rise per year. Their is more like GST offset forever, comfort, coconut pay.
go be a minister? -
-
have you ever consider to be a minister or perhaps a MP?Originally posted by sunnytv:We get $200-$350 for GST package per year, more like micronut GST offset, while they get thousand to million rise per year. Their is more like GST offset forever, comfort, coconut pay. -
Just my own opinions. If I were earning 5k monthly and already have 2 million in my bank account and i m just 27 years old, I dun think i would realli complain. Maybe most of the complainers are either poor or have not much money in their bank accounts. That explain the number of posts here. What do you think? If you are filthy rich, would you complain about the 100 to 200 for the GST package? hmmmm...........
-
I think like most developed economies, consumption based tax (such as GST) will increase. Hence I have no objections against the GST increase. But what should also happen at the same time is that there is a decrease in non-consumption based taxes, such as income tax. In other words, as GST increases, income tax should fall. It is that second part that we are not seeing.
Another example is road tax [I got no car
]. With increases of ERP rates (consumption), there should be a corresponding decrease in road tax (non-consumption based). We are not seeing that second part.
GST offset packages are one-off goodies that make no econmic sense. They are really only to gain political capital and citizen goodwill. -
With inflation, all things will be less affordable. Can you think of something that is cheaper compared to 10 years ago? Yr last sentence whom u refer to they, are u referrin to politicians? Well, its better for the government to expand their treasury as big as possible because in times of financial crisis, we will be better prepared for it. We dun want our economies to end up like those in south america, rite? if u think that some taxes will decrease when some taxes are increased, u are being wrong, or naive. In sg, everyone wants a car, so y decrease taxes on something that is popular? Well, if u dun want yr offset package, u can give them to me if u dun need $$$, lol.Originally posted by jolintay:I think like most developed economies, consumption based tax (such as GST) will increase. Hence I have no objections against the GST increase. But what should also happen at the same time is that there is a decrease in non-consumption based taxes, such as income tax. In other words, as GST increases, income tax should fall. It is that second part that we are not seeing.
Another example is road tax [I got no car ]. With increases of ERP rates (consumption), there should be a corresponding decrease in road tax (non-consumption based). We are not seeing that second part.
GST offset packages are one-off goodies that make no econmic sense. They are really only to gain political capital and citizen goodwill. -
Nope, not expecting them to reduce road tax. Just 2 points:
(i) increases in certain taxes should only be at the expense of decreasing others. The idea that we need to keep accumulating foreign reserves because someday we may need it, is correct in principle, but needs to be balanced against the need to provide a decent cost of living to the citizens. Any government in the world can use the fear tactic and say we need to increase taxes, just in case we need the money down the road. A good and mature government is one that satisfies that need, but balances it against other concerns.
(ii) increases in taxes require a check and balance approach. Until today, I have not heard a single convincing argument why gst needs to be raised. Help the poor and lower middle class? Using a small fraction of the profits made by Temasek (and maybe Singapore Pools also) each year will be sufficient for such expenses. -
Originally posted by zane80:Just my own opinions. If I were earning 5k monthly and already have 2 million in my bank account and i m just 27 years old, I dun think i would realli complain. Maybe most of the complainers are either poor or have not much money in their bank accounts. That explain the number of posts here. What do you think? If you are filthy rich, would you complain about the 100 to 200 for the GST package? hmmmm...........
elite spotted.Originally posted by zane80:With inflation, all things will be less affordable. Can you think of something that is cheaper compared to 10 years ago? Yr last sentence whom u refer to they, are u referrin to politicians? Well, its better for the government to expand their treasury as big as possible because in times of financial crisis, we will be better prepared for it. We dun want our economies to end up like those in south america, rite? if u think that some taxes will decrease when some taxes are increased, u are being wrong, or naive. In sg, everyone wants a car, so y decrease taxes on something that is popular? Well, if u dun want yr offset package, u can give them to me if u dun need $$$, lol.
-
In SG there are alot of elites..
-
Your point about balancing GST with income tax cuts is very valid. Maybe this will come at the next recession, to stimulate the economy.Originally posted by jolintay:Nope, not expecting them to reduce road tax. Just 2 points:
(i) increases in certain taxes should only be at the expense of decreasing others. The idea that we need to keep accumulating foreign reserves because someday we may need it, is correct in principle, but needs to be balanced against the need to provide a decent cost of living to the citizens. Any government in the world can use the fear tactic and say we need to increase taxes, just in case we need the money down the road. A good and mature government is one that satisfies that need, but balances it against other concerns.
(ii) increases in taxes require a check and balance approach. Until today, I have not heard a single convincing argument why gst needs to be raised. Help the poor and lower middle class? Using a small fraction of the profits made by Temasek (and maybe Singapore Pools also) each year will be sufficient for such expenses.
GST, like capital gains tax, is designed to target the wealthy, non-working population - think retired baby-boomers. Our demographics is shifting in the coming decades (aging population) so the tax system must adjust to distribute the tax burden more evenly. Without GST, the tax burden would have to fall entirely on a smaller percentage of younger workers, resulting in higher income tax for them.
So who suffers most from GST? People who are retiring now without enough savings. Put simply, Singapore will not be a nice place for poor people who don't or can't work...
Who is to blame? Errmm... us i guess, or people like me, who didn't listen to the government all these years and produce 3 babies to fund my retirement
-
going to affect me soon
-
it is finally coming
-
in the end also return to them ma.....Originally posted by Kenashi:it is finally coming -
Well... When it is Money, it will never be enough for most....Originally posted by zane80:Just my own opinions. If I were earning 5k monthly and already have 2 million in my bank account and i m just 27 years old, I dun think i would realli complain. Maybe most of the complainers are either poor or have not much money in their bank accounts. That explain the number of posts here. What do you think? If you are filthy rich, would you complain about the 100 to 200 for the GST package? hmmmm...........
Else why the raise of the ministers' salary when they are sky high while someone say that they will be suffering if there were no raise... -
no choiceOriginally posted by duotiga83:in the end also return to them ma.....
we can't do this, we can't do that
the only thing we can do is earned enough money n leave this place
-
When will the offset uility charges start? -
It's in this morning~!
-
Just received my too. Using the same bank as you, Tamago.
-
No long queues!Originally posted by Airbus330Captain:Just received my too. Using the same bank as you, Tamago. 
-
Govt gave us the money so that
we can all spent before 1st july
and wats more now is Geat Singapore Sale -
my money is out =D~
-
now the question is........
have u spent it? -
mostly on bills
