GST up to 7%

[speedblade]

hmmmm..... spend our money elsewhere then.

 

[eikin]

hmmmm..... spend our money elsewhere then.

elsewhere? where? :bsmilie: it's everywhere!

 

[soma]

according to p a p, it is to prevent widening of the income gap. so..., erm....., you blaming the poor leh.;p

Talk C o Ck sing song again... Listern too much sh_it from them will get brain posioning. Than what is the income bloody tax for..KNN...really sick of their SH_IT.:angry:

 

[mr_jason]

Hmm this sounds very dodgy. While I don't have the qualifications to doubt out government's policies or their reasons for doing so, I would like to know the rationale between the options they have available to reduce inequality.

From the logic, if you wanted to reduce the inequality, then shoulden't the higher income bracket have their income tax increased relative to lower income earners, instead of across the board GST increase of 2% which will affect everyone who spends money on everything, especially taking more money from the lower income group?

I'm sure there are much better ways to reduce inequality than an across the board 2% GST.

But then again, perhaps they are doing so because these other methods will dissuade foreign talent from coming here because of our relatively low income tax and sales tax compared to western welfare states.

:dunno:

 

[reachme2003]

'better do it now than later... when the economy is bouyant....' finance minister lee.

i do not know what to say. that can also mean that the additional need for taxpayers' $$ is not immediate.

 

[reachme2003]

'better do it now than later... when the economy is buoyant....' finance minister lee.

i do not know what to say. that can also mean that the additional need for taxpayers' $$ is not immediate.

 

[reachme2003]

i think iras will tax 'realised capital gains'. profits from share trading will be taxable.

 

[dkw]

At 7%, GSTis beginning to get painful.

 

[satay16]

At 7%, GSTis beginning to get painful.

yeah. just imagine.....it was 3 last time.

 

[jsbn]

soon.... the price of chicken rice, drinks, bah chor mee, mee siam all up price..... time to work harder and harder.....

U mean if 5% stays all the way, u ain't gonna work any harder? :bigeyes:

*shudders*

A question I'd like to ask everyone here, to put things back in perspective:
Which country in the world hasn't raised/lowered their overall tax (for corporate, individual & VAT/GST) for the past 10 years?

This is to put everyone back to reality again: http://en.wikipedia.org/wiki/Tax_rates_around_the_world

 

[jsbn]

somemore they are welfare states. singapore isn't.

U mean if u have the choice, u'll choose to be a Hobbo? :thumbsup:

 

[jsbn]

yeah. just imagine.....it was 3 last time.

Welcome to 2006. :bsmilie:

 

[Cheesecake]

garment got gif any $$ to offset the increment?

jus to 'cushion' the fall abit! :bsmilie:

 

[soma]

garment got gif any $$ to offset the increment?

jus to 'cushion' the fall abit! :bsmilie:

In another 3 and a half year time..:bsmilie:

 

[roadrunner_552]

shitz them lar. upz n upz n upz. :thumbsd:

 

[soma]

yeah. just imagine.....it was 3 last time.

yeah.. imagine .. when there is none last time..

 

[dkw]

U mean if 5% stays all the way, u ain't gonna work any harder? :bigeyes:

*shudders*

A question I'd like to ask everyone here, to put things back in perspective:
Which country in the world hasn't raised/lowered their overall tax (for corporate, individual & VAT/GST) for the past 10 years?

This is to put everyone back to reality again: http://en.wikipedia.org/wiki/Tax_rates_around_the_world

Well, thanks for that. I AM shuddering, the ugly reality being that as we modernise the economy, the GST looks like its got nowhere to go but up.

 

[Del_CtrlnoAlt]

the direct effect of GST increase is felt the most by the poor because they spend the largest part of their income on necessities.

but the govt says it will use the GST money to pay for safety nets for the poor. so i guess what it means is that the ones that will be most squeezed at the end of the day are the middle-income folks.

remember the 1st guy who jumped the MRT & the MP said y din the guy go approach the MPs or something... imagine this, this fund would be used for them lor (logically, after they jump)

or maybe by safety net, they mean making nets under the mrt tracks to catch them? perhaps they'll go back to base jumping from HDB flats, then u see more safety nets build around a void deck near you...

 

[satay16]

I feel poorer as I age in this country both spiritually and materially. :cry: :cry:

I wonder what's the logic behind the increase in GST. I dun understand why must compare with other countries when the others get better social benefits and welfare system. How to help the lower income when they also pay the same GST? With the increase in GST, will there be better social programmes and welfare or not?

BTW, when did IRAS cut the personal relief from $3000 to $1000?

yeah. if you compare to other countries, singapore do not have social welfare services as good as them. unless the government state the ways(in black and white) this increase in tax revenue will improve welfare, this increase is unjustified.:thumbsd:

 

[Del_CtrlnoAlt]

garment got gif any $$ to offset the increment?

jus to 'cushion' the fall abit! :bsmilie:

SG PR sian lor, like me, u guys still get money from GOVT, i only give & give & no returns... :angry: