GST Hike

[raincool2005]

GST ... sales tax, value added tax, whatever you call it, is the most unfair tax of them all. GST hits the poor the hardest. That is why,m in many places with hight GST, such tax is exempted from daily necessity, such as food, medicine .... not here in Singapore.

dream on .... everything is TAXed.

:sweat:

 

[Deadpoet]

GST ... sales tax, value added tax, whatever you call it, is the most unfair tax of them all. GST hits the poor the hardest. That is why,m in many places with hight GST, such tax is exempted from daily necessity, such as food, medicine .... not here in Singapore.

dream on .... everything is TAXed.

:sweat:

raincool, your comments completely excape me. Please read what I posted, and then, perhaps, if you understood what I said, you can rephrase!

 

[Pablo]

raincool, your comments completely excape me. Please read what I posted, and then, perhaps, if you understood what I said, you can rephrase!

Hi DP,

Here, you pay GST one way or another on everything including food.

It is just you don't always see it.

Example:

If you go to a computer shop and buy a 200GB hard drive, the invoice shows the price and shows the GST you paid.

If you go to the supermarket and buy a dozen eggs, you only see the final price but not the GST.

It was added to the price but not shown (for simplicity ?).

If I bought a dozen eggs from a supplier to make omlets for my resturant, the invoice shows the GST.

I think generally because a business that uses eggs needs to know what to claim back.

Where as the wife buying eggs for making breakfast can not claim back.

Hope this makes some sense.

This is a view from here

 

[Deadpoet]

Pablo,

That is the unfair part of consumption tax. The poor pays the most.

When I was living in California, the sales tax was, and still is, exempted from food and medicine.

 

[Pablo]

Pablo,

That is the unfair part of consumption tax. The poor pays the most.

When I was living in California, the sales tax was, and still is, exempted from food and medicine.

Yes this is true,

When we ran a resturant we were aware of the GST we were paying on food stuffs and simply had to bury it into our prices.

The person that bought the meal would not see the GST, just the bill.

We had to pay the GST content of profit tax time and claim some of the GST back we paid for the food items we bought.

In all, the price for a meal went up but not too much. But many small businesses folded.

That was some time back, but now (unless you don't know how to do accounting) it gets sorted.

Everybody in general doesn't see that they pay more than pre-GST, they have blinkers over their eyes.

If you ordered a beef tortilla and I charged you $6.50 you would simply pay $6.50.

You would tend to forget that before GST is was $5.85 ... time makes people forget or simply want to forget.

It is sad that with all the extra money the government collects, we don't live any better because of it.

The whole GST subject was cause of much debate and protesting when it was mentioned, but as is life .......

If the government decides they want it, they will have it.

Cheers

 

[ernest_ted]

GST ... sales tax, value added tax, whatever you call it, is the most unfair tax of them all. GST hits the poor the hardest. That is why,m in many places with hight GST, such tax is exempted from daily necessity, such as food, medicine .... not here in Singapore.

excuse for non exemption....admin cost....:dunno:

so sad.......

pay and pay.....:bsmilie:

 

[Jaycelim]

Maybe one day we'll see CS members organise HK tours + BBB :bsmilie:

 

[Astin]

Maybe one day we'll see CS members organise HK tours + BBB :bsmilie:

Correct, if the Cathay/Alan/John/MSColor/etc dont want to absorb the gst, we may as well go HKG BBB.

 

[josho]

I kinda miss HK man... lol.... make sure u got enuff to spend... flying there, stay in hotel is another cost. haha.. provided its god damn cheap.

GST hike... haiz... speechless.

 

[kanecher]

sigh.... there goes the hard earn money.

 

[roystonk80]

my guess is 1 Apr.

I think its a good guess :thumbsup:

 

[melnjes]

Pablo,

That is the unfair part of consumption tax. The poor pays the most.

When I was living in California, the sales tax was, and still is, exempted from food and medicine.

I guess another alternative is a luxury goods tax, instead of a general Goods and Services Tax. Now comparing the two options:

Option 1
Existing proposal - a 2% increase in GST i.e. all goods and services.

Option 2
If instead we impose a tax increase only on "luxury items" i.e. a subset of all goods and services, the govt will probably request for a 4-5% tax increase on such items in order to collect the same amount as Option 1 at the end of the day.

 

[ExplorerZ]

I guess another alternative is a luxury goods tax, instead of a general Goods and Services Tax. Now comparing the two options:

Option 1
Existing proposal - a 2% increase in GST i.e. all goods and services.

Option 2
If instead we impose a tax increase only on "luxury items" i.e. a subset of all goods and services, the govt will probably request for a 4-5% tax increase on such items in order to collect the same amount as Option 1 at the end of the day.

camera = "luxury items" :hung:

 

[Astin]

I guess another alternative is a luxury goods tax, instead of a general Goods and Services Tax. Now comparing the two options:

Option 1
Existing proposal - a 2% increase in GST i.e. all goods and services.

Option 2
If instead we impose a tax increase only on "luxury items" i.e. a subset of all goods and services, the govt will probably request for a 4-5% tax increase on such items in order to collect the same amount as Option 1 at the end of the day.

I think there is Option 3, low company tax (company create more jobs), low income tax (ppl have more money to spend), no GST (rich or poor all no need to pay), a good example is Macao, where the economy depends heavily on tourism and casinos, and they still have surplus.