Read more at https://www.channelnewsasia.com/news/asia/gst-malaysia-to-remove-jun-1-10239562
(Updated: )
George Lim ·
Msia remove GST
😎..we increase GST
😈
Msia boleh😎
😎..we increase GST😈Msia boleh
😎
Ricky Lim ·
Malaysia want to implement Sales Tax to replace the GST - so don't be too happy.
Else how to finance the budget deficit?
Else how to finance the budget deficit?
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K Tan Don
Ricky Lim You don't have to worry about us..we are united behind our new PM and have confidence in our new government...thank u..
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Ricky Lim ·
K Tan Don - I am not worried for Malaysia as you all know how to take care of yourself.
I am only worried about those Singaporeans who only know how to copy blindly without knowing the consequences.
Malaysia have natural resources and can sell their oil, palm, rubber, durian etc - that are dig from the soil or grow on the tree free of charge.
These Singaporeans are not aware that Singaporeans have no natural resources and have to implement our policies differently - not monkey see monkey do.
I am only worried about those Singaporeans who only know how to copy blindly without knowing the consequences.
Malaysia have natural resources and can sell their oil, palm, rubber, durian etc - that are dig from the soil or grow on the tree free of charge.
These Singaporeans are not aware that Singaporeans have no natural resources and have to implement our policies differently - not monkey see monkey do.
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Ricky Lim ·
Singapore implement GST differently from other Countries - and does not impose big burden on the lower income group and middle income group.
(1) According to statistics - low income group pay $1 gst - will in return get $4 gst credit, town council rebate, power/water rebate etc.
(2) Middle income group pay $1 gst - will in return get $2 gst credit, town council rebate, power/water rebate etc.
So as long as low & middle income group don't buy big ticket items like car, yacht or private houses ---- the increase in GST will not impact them unlike other Countries.
So these Singaporeans must understand the mechanics of how we implement GST - and not just follow blindly.
Upper income group are the groups that pay most GST - when they buy big ticket items like designer bags, designer clothes, designer shoes, luxurious cars. bungalows etc.
Increase in GST are used to compensate for losses in personal income tax and corporate tax.
So these Singaporeans must understand the rationale why we use GST while reducing income tax and corporate tax - but not impacting low and middle income group.
We don't have money or gold - dig from soil or grow from tree - and we need to do things differently to ensure a healthy fiscal policy devoid of debts.
(1) According to statistics - low income group pay $1 gst - will in return get $4 gst credit, town council rebate, power/water rebate etc.
(2) Middle income group pay $1 gst - will in return get $2 gst credit, town council rebate, power/water rebate etc.
So as long as low & middle income group don't buy big ticket items like car, yacht or private houses ---- the increase in GST will not impact them unlike other Countries.
So these Singaporeans must understand the mechanics of how we implement GST - and not just follow blindly.
Upper income group are the groups that pay most GST - when they buy big ticket items like designer bags, designer clothes, designer shoes, luxurious cars. bungalows etc.
Increase in GST are used to compensate for losses in personal income tax and corporate tax.
So these Singaporeans must understand the rationale why we use GST while reducing income tax and corporate tax - but not impacting low and middle income group.
We don't have money or gold - dig from soil or grow from tree - and we need to do things differently to ensure a healthy fiscal policy devoid of debts.
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Ricky Lim ·
For critical services such as health cost and education cost - the gst are absorb by Government and not charge to the people - so that people can afford medical serivce and education with no additional burden.
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Ricky Lim ·
For upper income group - they are not worst off as long as they don't howlian - like buying big ticket items then will have to pay more gst --- as they enjoy lower personal income tax and for those bosses and towkays --- enjoy lower corporate tax.
So every income group - got some goodies.
And Government can still balance its budget without going into fiscal deficit and huge debt.
The only thing that the Government need to do is to ensure good jobs and good wages for everyone --- then social divide and social inequality will not pose a big problem.
So every income group - got some goodies.
And Government can still balance its budget without going into fiscal deficit and huge debt.
The only thing that the Government need to do is to ensure good jobs and good wages for everyone --- then social divide and social inequality will not pose a big problem.
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Ricky Lim ·
And for Singaporeans who belong to low and middle income group - who calculate and do their sum properly ----- as long as they maintain their spending posture in Singapore - and not start to do lavish spending or flaunt the gains from gst credit ---- they in fact benefit from the gst increase.
Even high income group from their substantial personal tax cut and corporate tax cut - also benefit.
So for those Singaporeans who cry father cry mother for gst increase - but did not do their sum properly ---- you will be surprise that you actually gain from the gst credit and other rebates.
Not everything also boleh boleh --- without doing your sum and knowing the right facts.
Even high income group from their substantial personal tax cut and corporate tax cut - also benefit.
So for those Singaporeans who cry father cry mother for gst increase - but did not do their sum properly ---- you will be surprise that you actually gain from the gst credit and other rebates.
Not everything also boleh boleh --- without doing your sum and knowing the right facts.
Like · Reply · 1m · Edited
Ricky Lim ·
As long as the Government can balance their fiscal budget and not incurring huge debt --- the credit rating will improve and will not drop.
This will ensure foreign investment, trade, business confidence will be maintained and grow and for loan will not have to pay huge interest, Government bond issue to finance infrastructure development will be taken up. Currency will not devalue - causing import inflation and devalue the asset worth within the Country.
Else the cost to finance the Government will shoot up significantly and result in higher debts for the Government.
And worst, cause an outflow of money and outflow of foreign investment.
When this happen, business will leave and people will start losing jobs.
So when credit rating for the Country drop - it is not a happy event.
This will ensure foreign investment, trade, business confidence will be maintained and grow and for loan will not have to pay huge interest, Government bond issue to finance infrastructure development will be taken up. Currency will not devalue - causing import inflation and devalue the asset worth within the Country.
Else the cost to finance the Government will shoot up significantly and result in higher debts for the Government.
And worst, cause an outflow of money and outflow of foreign investment.
When this happen, business will leave and people will start losing jobs.
So when credit rating for the Country drop - it is not a happy event.
Like · Reply · 1m
Ricky Lim ·
Official sources and statistics :-
So those unhappy Singaporeans about GST increase = see this fact before you boleh boleh and kauPehkauBoo :-
(1) Bulk of GST is paid by higher-income households that spend more, with 84 per cent of all GST paid coming from those, including the top 40 per cent of households and foreigners.
(2) $4 billion of GST credit will be set aside to be distributed to Singaporeans as GST credit.
So Singaporeans - anymore complain?
So those unhappy Singaporeans about GST increase = see this fact before you boleh boleh and kauPehkauBoo :-
(1) Bulk of GST is paid by higher-income households that spend more, with 84 per cent of all GST paid coming from those, including the top 40 per cent of households and foreigners.
(2) $4 billion of GST credit will be set aside to be distributed to Singaporeans as GST credit.
So Singaporeans - anymore complain?
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Hafezt Eusope ·
Ricky Lim why you only have 1 friend on your FB? must be a gov bot
Like · Reply · 13m
Michael Morgan ·
Ricky Lim
So we need GST increase for TC rebates?
Self Help groups beed "donations" from employees salaries?
Tax hike on water is needed with many other hikes?
Very interesting.
So we need GST increase for TC rebates?
Self Help groups beed "donations" from employees salaries?
Tax hike on water is needed with many other hikes?
Very interesting.
Ding Hua ·
Hafezt Eusope Can't even see your friend list. You must be a gov bot.
Anyway, whatever Ricky says are true informations n available publicly.
Only those who don't read or uneducated,
don't know.
Anyway, whatever Ricky says are true informations n available publicly.
Only those who don't read or uneducated,
don't know.
Mazlan Abu Hassan
Ricky Lim
That's the thing..... not all singaporean got good jobs because of the influx of foreigner.... nowaday, its the employer market.... singaporean demand higher pay they hire ft.....
That's the thing..... not all singaporean got good jobs because of the influx of foreigner.... nowaday, its the employer market.... singaporean demand higher pay they hire ft.....
K Tan Don
Ricky lim, i see u are trying very hard to convince people the benefit of GST..in a certain way, yes GST will boost the government income..but there will be a limit or tolerance people can go..those pro-BN people had been trying their luck..we gave them our answer in GE14..Government should look into other ways to boost revenue. Increasing GST is only a shortcut n lazy way..it should not be the only option to boost revenue. they should take clue from what is happening here in Malaysia..dont think people will always accept your explanation especially for increase of GST. I wish Singapore continue success..just don push people too far..u know what i mean? When most of your citizens strike back like we did..it will be too late. Our BN ex-govern always refuse to accept reality n criticism..so we gave them a Tsunami rakyat..hope Singapore government will take heed..increasing GST risk people discontent..they may tell people it is a good medicine..but people may not want to take that medicine..u can see for yourself all the political Analysts n polls failed to capture people’s choice such as US n Malaysia’s General Election. If your government still think increasing GST is the way to move forward, hope they will take clue from our General Election
Lynn Lee ·
Ricky is right mathematically. The issue is not just how much is the GST, its how you use the money collected, and who are beneficiary.
Michael Morgan ·
Ricky Lim
Interesting that you tlk like the finance minister. Without showing much about what is spend on the budget.
While GST is needed to have REBATES we also have these taxes and those I mention earlier for funding to help underpriviledge people by RACE BASE policies where by employed individual pay these institutions for them to help each race. They are worth millions.
Its not transparant as to how much they worth.
And we have all these taxes as well including these taxes.
Income Tax
Income tax is chargeable on income of individuals and companies.
Property Tax
Property tax is imposed on owners of properties based on the expected rental values of the properties.
Estate Duty (Removed for deaths occurring on or after 15 Feb 2008)
Estate duty is levied on the value of a deceased's net assets in excess of a threshold amount.
Motor Vehicle Taxes
These are taxes, other than import duties, that are imposed on motor vehicles. These taxes are imposed to curb car ownership and road congestion.
Customs & Excise Duties
Singapore is a free port and has relatively few excise and import duties. Excise duties are imposed principally on tobacco, petroleum products and liquors. Also, very few products are subject to import duties. The duties are mainly on motor vehicles, tobacco, liquor and petroleum products.
Goods & Services Tax
GST is a tax on consumption. The tax is paid when money is spent on goods or services, including imports.
Betting Taxes
These are duties on private lottery, betting & sweepstake.
Casino Tax
The casino tax is a new tax levied on the casinos’ gross gaming revenue.
Stamp Duties
This is imposed on commercial and legal documents relating to stock & shares and immovable property.
Others
These include the foreign worker levy, annual tonnage tax, water conservation tax and development charge.
Not forgetting those taxes on alcolhol and tobacco and
COE
ERP.
Interesting perspective that GST is needed for rebates.
Interesting that you tlk like the finance minister. Without showing much about what is spend on the budget.
While GST is needed to have REBATES we also have these taxes and those I mention earlier for funding to help underpriviledge people by RACE BASE policies where by employed individual pay these institutions for them to help each race. They are worth millions.
Its not transparant as to how much they worth.
And we have all these taxes as well including these taxes.
Income Tax
Income tax is chargeable on income of individuals and companies.
Property Tax
Property tax is imposed on owners of properties based on the expected rental values of the properties.
Estate Duty (Removed for deaths occurring on or after 15 Feb 2008)
Estate duty is levied on the value of a deceased's net assets in excess of a threshold amount.
Motor Vehicle Taxes
These are taxes, other than import duties, that are imposed on motor vehicles. These taxes are imposed to curb car ownership and road congestion.
Customs & Excise Duties
Singapore is a free port and has relatively few excise and import duties. Excise duties are imposed principally on tobacco, petroleum products and liquors. Also, very few products are subject to import duties. The duties are mainly on motor vehicles, tobacco, liquor and petroleum products.
Goods & Services Tax
GST is a tax on consumption. The tax is paid when money is spent on goods or services, including imports.
Betting Taxes
These are duties on private lottery, betting & sweepstake.
Casino Tax
The casino tax is a new tax levied on the casinos’ gross gaming revenue.
Stamp Duties
This is imposed on commercial and legal documents relating to stock & shares and immovable property.
Others
These include the foreign worker levy, annual tonnage tax, water conservation tax and development charge.
Not forgetting those taxes on alcolhol and tobacco and
COE
ERP.
Interesting perspective that GST is needed for rebates.
Jeremy Castro ·
Works at Azusa Pacific University
Ricky Lim SSt was before GST , thise were the days where limited items were taxed......With GST almost everything is taxed including women tampons.
Like · Reply · 21m
Ricky Lim ·
K Tan Don - I am not trying very hard to convince people that GST is better as you say.
I am only trying to tell those Singaporeans that how GST are implemented in Singapore - is very different from many other Countries.
Many Singaporeans are in fact better off financially when Singapore implement GST as they received GST credit to offset the GST increase.
Most GST revenue come from rich people who are buying big ticket items - as statistics collected show that 84% GST collected are from the top 40% and rich foreigners.
Most Singaporeans are not worst off - in fact financially better off when GST are implemented.
Singapore increase GST at least 4 times - from 3% to 4% to 5% to 7% --- and 3 years time to 9% (not yet confirm) --- and everytime, the Government win by good margin ---- because many Singaporeans collect more money as GST credit than they actually pay for GST.
Facts don't lie.
PAP are only doing not so well in only one GE - when many foreigners are let in to take away many jobs from Singaporeans --- not because of GST increase. And still PAP won by 60% margin. And this is fact.
I am only trying to tell those Singaporeans that how GST are implemented in Singapore - is very different from many other Countries.
Many Singaporeans are in fact better off financially when Singapore implement GST as they received GST credit to offset the GST increase.
Most GST revenue come from rich people who are buying big ticket items - as statistics collected show that 84% GST collected are from the top 40% and rich foreigners.
Most Singaporeans are not worst off - in fact financially better off when GST are implemented.
Singapore increase GST at least 4 times - from 3% to 4% to 5% to 7% --- and 3 years time to 9% (not yet confirm) --- and everytime, the Government win by good margin ---- because many Singaporeans collect more money as GST credit than they actually pay for GST.
Facts don't lie.
PAP are only doing not so well in only one GE - when many foreigners are let in to take away many jobs from Singaporeans --- not because of GST increase. And still PAP won by 60% margin. And this is fact.
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Ricky Lim ·
Ask any Singaporeans :-
(1) Does people receive GST voucher every year?
(2) Does people receive U-save every quarter?
(3) Does people receive town council rebate every quarter?
(4) Does elderly receive Pioneer Generation rebate?
(5) Does low income people receive bursaries for their child education?
(6) Does children get top up for PSEA - educational grant every year?
(7) Does people get medical subsidies from the Government?
(8) Does people get housing grant of 5 figures?
(9) Does people get a personal income tax cut?
(10) Does corporate get corporate tax cut?
Etc etc etc etc
--- when you add up all these ----- the GST credit you get is it far more than the GST you pay ---- if you are a reasonable spenders? Use calculator to calculate -- whether you are financially off or worst off?
Then let people say boleh boleh --- Singaporeans also monkey see monkey do -- also cry boleh boleh. Do your sum properly and you will see you better off or worst off.
After you do your sum ---- then you cry boleh boleh --- or bodoh bodoh.
Of course the more you flaunt by buying bungalow, luxury car, designer this designer that, yacht, tour, eat in restaurant etc --- you pay more gst -- since you so rich and howlian.
Then good for everyone what.
(1) Does people receive GST voucher every year?
(2) Does people receive U-save every quarter?
(3) Does people receive town council rebate every quarter?
(4) Does elderly receive Pioneer Generation rebate?
(5) Does low income people receive bursaries for their child education?
(6) Does children get top up for PSEA - educational grant every year?
(7) Does people get medical subsidies from the Government?
(8) Does people get housing grant of 5 figures?
(9) Does people get a personal income tax cut?
(10) Does corporate get corporate tax cut?
Etc etc etc etc
--- when you add up all these ----- the GST credit you get is it far more than the GST you pay ---- if you are a reasonable spenders? Use calculator to calculate -- whether you are financially off or worst off?
Then let people say boleh boleh --- Singaporeans also monkey see monkey do -- also cry boleh boleh. Do your sum properly and you will see you better off or worst off.
After you do your sum ---- then you cry boleh boleh --- or bodoh bodoh.
Of course the more you flaunt by buying bungalow, luxury car, designer this designer that, yacht, tour, eat in restaurant etc --- you pay more gst -- since you so rich and howlian.
Then good for everyone what.
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Ricky Lim ·
Actually very easy to calculate for Singaporean what - if you don't know how to calculate.
Let me show you.
Assume you spend $10,000 of goods and services for 1 year.
7% GST is $700.
9% GST is $900.
Singaporeans go and ask yourself --- how much GST credit did you get per year?
Many Singaporeans get much more than the amount of GST you paid as illustrated above --- am I right?
So Singaporeans --- don't be fool by others when people tell you boleh boleh.
Use your calculators to calculate --- are you boleh boleh or bodoh bodoh?
Let me show you.
Assume you spend $10,000 of goods and services for 1 year.
7% GST is $700.
9% GST is $900.
Singaporeans go and ask yourself --- how much GST credit did you get per year?
Many Singaporeans get much more than the amount of GST you paid as illustrated above --- am I right?
So Singaporeans --- don't be fool by others when people tell you boleh boleh.
Use your calculators to calculate --- are you boleh boleh or bodoh bodoh?
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Ricky Lim ·
Nicholas Ong - Are you talking facts or are you are troll with no facts?
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Nicholas Ong ·
Ricky Lim what you're saying is that the GST increase is beneficial for us because we earn more money back from GST?
Then government increase GST for what? Might as well don't increase at all if they going to give us back? Or just tax the rich? Lower income people have to spend more money than they get from rebates if they have to take care of a family, but people like you just say "aiya dont complain about GST government rebate you liao be happy got no crime".
On paper looks good la. In reality you don't understand what it means to live with a higher GST if you already are well off.
Then government increase GST for what? Might as well don't increase at all if they going to give us back? Or just tax the rich? Lower income people have to spend more money than they get from rebates if they have to take care of a family, but people like you just say "aiya dont complain about GST government rebate you liao be happy got no crime".
On paper looks good la. In reality you don't understand what it means to live with a higher GST if you already are well off.
Rozelyn Ong
You can’t compare apples with oranges can you Ricky? The dynamic of the Malaysian economy is extremely different to those of Singapore. I am a Malaysian student living in New Zealand and I have made many visits to family in Yishun. I admit Singapore has a solid wage and tax structure for its population. You get value on your dollar unlike New Zealand or Australia. The wage structure here (NZ) is solid but. Come to NZ for example big wages (Asian terms) but you see tax on tax on tax on tax. No HDB Homeless plenty. Malaysia for one is not an Island Nation. Mismanagement of its natural and econom...See More
K Tan Don
Nicholas Ong : You have explained much better to me..we don't need so much goodies if we are not burdened so much by higher GST..those pro-GST will never listen..we patiently waited until election to come. Then they know the answer whether we agree or not agree..no point arguing..anyway whatever happened in Malaysia may not happen in Singapore soon..cause in Malaysia, GST alone is not the determining factor..we are extremely pissed of with Najib administration with rampant corruption and spent so much money like no tomorrow..and of course not to mention his wife Rosmah..we hated so much of her..but I must reillerate again any GST increase risk the wrath of people..period. I am not an economic expert..but people will be pissed off with three main things - constant increase of higher cost of living, higher price of items and increase tax..when these three elements exceeded the tolerance level of people regardless of whether there are goodies or not..they will know when the election come..more goodies may not suppress the anger in people if those three factors exceed the tolerance level accepted by people..if a government keep on telling us..we got no choice but to increase GST..we will tell them ..thank you very much..we dont need you..that was what we just did in GE14..
Ricky Lim ·
Nicholas Ong - Even if you pay for your whole family goods and services eg. $20,000 - you still are not worst off.
Let pull out your calculator and calculate - poly don't teach you how to calculate meh?
$20,000 at 7% = $1,400 GST
$20,000 at 9% = $1,800 GST
Ask your father and mother - did they get GST credit much more than they have paid the GST above?
GST is the best way to get the rich to spend and contribute to tax - not the low and middle income.
Eg. if you tax the rich high personal income tax or corporate tax - the rich will run away with their business - and you will have no jobs.
But if the rich see designer this, designer that, see bungalow, see luxurious car - they will pay to get and GST to them is sub-sub-water.
But to Government is a good sum.
Eg. if the rich pay $10 million for a bungalow, Government will get $900,000 for GST.
if the rich pay $200,000 for a designer bag, Government will get $18,000 for GST.
if the rich pay $100 for his lunch, Government will get $9 for GST.
If the low and middle income buy $5 for his lunch and kopi, Gpvernment will already pay you back base on GST credit offset.
Let pull out your calculator and calculate - poly don't teach you how to calculate meh?
$20,000 at 7% = $1,400 GST
$20,000 at 9% = $1,800 GST
Ask your father and mother - did they get GST credit much more than they have paid the GST above?
GST is the best way to get the rich to spend and contribute to tax - not the low and middle income.
Eg. if you tax the rich high personal income tax or corporate tax - the rich will run away with their business - and you will have no jobs.
But if the rich see designer this, designer that, see bungalow, see luxurious car - they will pay to get and GST to them is sub-sub-water.
But to Government is a good sum.
Eg. if the rich pay $10 million for a bungalow, Government will get $900,000 for GST.
if the rich pay $200,000 for a designer bag, Government will get $18,000 for GST.
if the rich pay $100 for his lunch, Government will get $9 for GST.
If the low and middle income buy $5 for his lunch and kopi, Gpvernment will already pay you back base on GST credit offset.
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Ana Abdullah ·
Whatever happens in Msia might not happen in Sg... True... Cos Sg not as brave as Msia... Hike? Complain on fb lor.... What to do....
Ana Abdullah ·
Anyway statistics is just a number which has been cleaned up. Clean up in what way? That one no one knows...
K Tan Don
Christopher Tan, i m talking facts...when people have to pay, say a Rm 1.00 gst, for a bowl of Rm 10.00 noodle..we will not be happy about it..GST sucks..which part of my statement is not correct : When three elements - Higher cost of living, rising price items and increase of GST - when these three elements combined exceed the tolerance level accepted by people, regardless of whether they receive goodies or not, people will show in election..I am talking this as a general statement..rebuke me with arguments..please..it's perfectly fine if you Singaporeans accept GST increase...I am arguing from a general perspective..I am not arguing whatever policy or strategy your govern want to implement..
Joe Isabella
Leon Kim Singapore is just little cute 697 sq km, while Malaysia is approximately 329,847 sq km. Meanwhile, the population of Singapore is approximately 6 million people comparing with approximately 25 million more people are live in Malaysia.
We are simple 4 to 5 times larger comparing with Singapore. Just make simple calculation of crime rates in Singapore then compare, Malaysia.
We are simple 4 to 5 times larger comparing with Singapore. Just make simple calculation of crime rates in Singapore then compare, Malaysia.
Joe Isabella
Ricky Lim for your kind information, SST were there before GST was imposed by DS Najib's team, after abolishing GST .. the old SST will take place, it wont bother us .. are new into politics and economics?
Patricia Yam ·
Ricky Lim Sales tax was always in place for business. Its nothing new. The GST was as it affects the man in the street.
Ricky Lim ·
K Tan Don - now you start to talk sense.
Malaysians voters do a tsunami swing - not just because of GST but due to other grievances.
For Singapore, it is simple, what type of taxes used - whether GST or other sort of taxes, as long as the tax structure is fair - not burdening the people
- and Government strive to get good jobs with good wages for its people,
- fair and affordable welfare to take care of the people,
- good and non-corrupt Government
- provide opportunities for all its people in jobs, in education, in medicare, in housing, in community etc
--- Singapore Government will continue to do well in GE.
Malaysians voters do a tsunami swing - not just because of GST but due to other grievances.
For Singapore, it is simple, what type of taxes used - whether GST or other sort of taxes, as long as the tax structure is fair - not burdening the people
- and Government strive to get good jobs with good wages for its people,
- fair and affordable welfare to take care of the people,
- good and non-corrupt Government
- provide opportunities for all its people in jobs, in education, in medicare, in housing, in community etc
--- Singapore Government will continue to do well in GE.
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Ricky Lim ·
Nicholas Ong - GST is now the robin hood - where it get the rich (who willingly and happily pay) for designer this, designer that - to help the low and middle income to get more GST credit ($$$) --- you still not happy?
Now boleh or bodoh besar?
Now boleh or bodoh besar?
Like · Reply · 1m · Edited
Nicholas Ong ·
Ricky Lim You are simple minded. Businesses who face a GST increase will likewise hike up their prices to maintain their revenue. Business owners will see this as a justified way to increase their own prices at a far higher margin than the added 2%. Just look at kopitiam. $3 become $3.30, you don't need calculator to work out that it's a 10% increase right?
And that's just for food. Transport, household amenities, etc all will see a gradual increase in price. Only your pay will stay the same, because it's not affected by GST and there's a surplus of unemployed people out there, so businesses can get away with it.
Do you seriously think that the government implements GST credit rebates as a way to return money to the people? It's a way to placate them, and people like you, for when they increase the GST to esrn the government more money. And what are they doing with the money? The country is growing more prosperous, but at the cost of its citizens' happiness and wellbeing.
I'm glad you raised the issue of job opportunity. Job opportunity is just opportunity. It's not for singaporeans, it's for FTs. Everyone jumps at the idea of more jobs being created but don't see the word 'opportunity'.
Now you tell me, you boleh or bodoh?
And that's just for food. Transport, household amenities, etc all will see a gradual increase in price. Only your pay will stay the same, because it's not affected by GST and there's a surplus of unemployed people out there, so businesses can get away with it.
Do you seriously think that the government implements GST credit rebates as a way to return money to the people? It's a way to placate them, and people like you, for when they increase the GST to esrn the government more money. And what are they doing with the money? The country is growing more prosperous, but at the cost of its citizens' happiness and wellbeing.
I'm glad you raised the issue of job opportunity. Job opportunity is just opportunity. It's not for singaporeans, it's for FTs. Everyone jumps at the idea of more jobs being created but don't see the word 'opportunity'.
Now you tell me, you boleh or bodoh?
Ricky Lim ·
Nicholas Ong -- You tell me how much in total you pay for GST every year - and how much you receive as GST credit every year?
This will stop all argument.
Don't give emotional response. Give $ fact.
If you don't know how to calculate --- get a tax accountant to sit down with you to calculate - before you give your emotional response.
Then see whether you gain from your GST credit or you pay more for GST.
Just simply take one eg. of a family ---- they received more than $10,000 GST credit a year :-
from bursaries, pioneer generation credit, GST voucher, utilities rebate, TC rebate, medical subsidies, education subsidies, etc ---- not even including housing grant.
$10,000 GST credit per household not enough to cover all those GST for this low income family - and all your calculation of food increase etc?
Get a tax consultant to sit down with you to calculate before you make noise.
This will stop all argument.
Don't give emotional response. Give $ fact.
If you don't know how to calculate --- get a tax accountant to sit down with you to calculate - before you give your emotional response.
Then see whether you gain from your GST credit or you pay more for GST.
Just simply take one eg. of a family ---- they received more than $10,000 GST credit a year :-
from bursaries, pioneer generation credit, GST voucher, utilities rebate, TC rebate, medical subsidies, education subsidies, etc ---- not even including housing grant.
$10,000 GST credit per household not enough to cover all those GST for this low income family - and all your calculation of food increase etc?
Get a tax consultant to sit down with you to calculate before you make noise.
Ricky Lim ·
K Tan Don - Your GST is different from Singapore GST.
In $ term, GST is a robin hood in Singapore.
If yours is not, don't say Singapore is not because you are not in Singapore - you don't know.
In $ term, GST is a robin hood in Singapore.
If yours is not, don't say Singapore is not because you are not in Singapore - you don't know.
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K Tan Don - so you don't know about Singapore you tiam tiam.
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K Tan Don
K Tan Don
K Tan Don - I say if you are not happy about your GST, you can complain all you want.
But don't apply it to Singapore - because Singapore have a different GST system - and you cannot apply what you know about your GST and start to apply it on ours - because you don't know our system.
But don't apply it to Singapore - because Singapore have a different GST system - and you cannot apply what you know about your GST and start to apply it on ours - because you don't know our system.
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K Tan Don
K Tan Don
K Tan Don
K Tan Don - I say if you are not happy about your GST, you can complain all you want.
But don't apply it to Singapore - because Singapore have a different GST system - and you cannot apply what you know about your GST and start to apply it on ours - because you don't know our system.
But don't apply it to Singapore - because Singapore have a different GST system - and you cannot apply what you know about your GST and start to apply it on ours - because you don't know our system.
Ricky Lim..doesn’t matter whether I understand or not..as i stated earlier..u guys happy enough loh ..other than that..no further comment..but i can continue to comment if u want me to comment ..ok go n enjoy your GST..sorry ah..I have a habit of teasing those pro-GST commentors..we fought so much with those BN cybertroopers on GST topic for the past few months until the last day of GE14..bye..no hard feeling ok ? Now a lot those BN cybertroopers virtually dissappear after GE14..left only a few still commenting.
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Ricky Lim ·
K Tan Don - Your internal politics - is for your citizens to comment and fought.
Similarly, our politics is also for us to comment and argue - based on facts and not emotion --- what is for the good of our people and the Country as a whole.
When our people are ignorant of the facts or are misled - we must correct them --- so that right and informed decisions can be made.
Similarly, our politics is also for us to comment and argue - based on facts and not emotion --- what is for the good of our people and the Country as a whole.
When our people are ignorant of the facts or are misled - we must correct them --- so that right and informed decisions can be made.
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Ricky Lim ·
K Tan Don - no more comments from me.
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Ricky Lim ·
Nicholas Ong - The MOM WSG have placed 25,000 jobs for Singaporeans through growth and adopt programme.
I am not saying Singapore did a fantastic job in jobs due to disruptive tech, business restructuring and the global re-alignment of trade, business practices and investment ---- but we are moving in the right direction and more and more jobs are being created - and the Government are restricting foreigners while actively training and placing Singaporeans to the right jobs.
I am not saying Singapore did a fantastic job in jobs due to disruptive tech, business restructuring and the global re-alignment of trade, business practices and investment ---- but we are moving in the right direction and more and more jobs are being created - and the Government are restricting foreigners while actively training and placing Singaporeans to the right jobs.
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Nicholas Ong ·
Ricky Lim upwards of $600: more if its 9%. I get rebates of $300. Tell me more about how the increased GST benefits me?
Nicholas Ong - I think you should get a tax accountant to calculate for you for your entire household.
I think you did not get it right.
There are many components you did not take into account.
Remember the GST credit are make up of individual components and household components.
You only take into account the individual components and i think you may also missed out some individual components.
Also evidently you did not include the household components which is a sizable sum.
And don't forget if you are drawing income - you also got income tax rebate.
And depending on the demographics of your household - your GST credit will vary very differently from others eg. elderly, smaller room flats, income range, people who are schooling, medical care, medisave topup etc.
So you need a tax accountant to work out accurately for you - for each household.
Remember we have $4 billion of GST credit to give for all the Singaporean household - $300 per household is far too low.
Also note, all my illustration are based on 9% GST - but did not include any increase in GST credit (because it is not announced yet).
I think you did not get it right.
There are many components you did not take into account.
Remember the GST credit are make up of individual components and household components.
You only take into account the individual components and i think you may also missed out some individual components.
Also evidently you did not include the household components which is a sizable sum.
And don't forget if you are drawing income - you also got income tax rebate.
And depending on the demographics of your household - your GST credit will vary very differently from others eg. elderly, smaller room flats, income range, people who are schooling, medical care, medisave topup etc.
So you need a tax accountant to work out accurately for you - for each household.
Remember we have $4 billion of GST credit to give for all the Singaporean household - $300 per household is far too low.
Also note, all my illustration are based on 9% GST - but did not include any increase in GST credit (because it is not announced yet).
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Ricky Lim ·
Nicholas Ong - even for very rich people with very high income - 1% to 2% income tax cut will also means few thousands or hundred of thousands of dollars of saving for them --- even though they have 0 GST credit.
And this few thousand or hundred thousands dollars savings can easily cover the GST.
Unless they start to buy luxuries cars, houses, yacht, designer stufff - than the saving will not be enough to cover the GST.
As i quoted the example of one low income household of $10,000 GST credit --- this household need to spend $100,000 on goods and services for 1 whole year in other to exceed the GST of $10,000.
And if this low income household can spend $100,000 on goods and services - it means they have income to spend so much with $8,333 per month --- which is not low income --- which is in the high income range.
And this few thousand or hundred thousands dollars savings can easily cover the GST.
Unless they start to buy luxuries cars, houses, yacht, designer stufff - than the saving will not be enough to cover the GST.
As i quoted the example of one low income household of $10,000 GST credit --- this household need to spend $100,000 on goods and services for 1 whole year in other to exceed the GST of $10,000.
And if this low income household can spend $100,000 on goods and services - it means they have income to spend so much with $8,333 per month --- which is not low income --- which is in the high income range.
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Ricky Lim ·
And if you say $300 GST credit is confirm plus chop and no more goodies ---- then you must be a very rich guy - staying in private condo, or bungalow or detached house ---- and drawing a very high income.
Then you should calculate how much savings you get from income tax and dividends tax cut from corporate tax.
Thus you should get a tax accountant to help you to get all your "GST credit" in order to benchmark against your GST paid.
Unless you buy car every year - $100,000 then you pay $10,000 GST - of course the GST credit cannot cover.
Then you should calculate how much savings you get from income tax and dividends tax cut from corporate tax.
Thus you should get a tax accountant to help you to get all your "GST credit" in order to benchmark against your GST paid.
Unless you buy car every year - $100,000 then you pay $10,000 GST - of course the GST credit cannot cover.
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Ricky Lim ·
$4billion GST credit - for 1 million Singaporean household (average 4 persons in one household) = 4 million people.
Assume don't practice robin hood - to give more to low and middle income group - but give equally to every household - even to the very rich that don't need it.
Each household will get $4,000 at least per year --- not $300.
So in order to pay $4,000 GST, the household need to spend $44,444.44 cents on goods and service per year.
And if one household can spend $44,444.44 cents on goods and service per year --- you are already consider a middle income group.
That means you can already buy one TV, one Fridge, one laptop, 4 smartphones, go for a tour with the whole family, go foodcourts for weekends, 1 month go 1 restaurant, pay all household expenses etc --- and live a comfortable life.
Except you cannot buy a car that cost $120,000 but can buy an eScooter that cost $1,200.
Assume don't practice robin hood - to give more to low and middle income group - but give equally to every household - even to the very rich that don't need it.
Each household will get $4,000 at least per year --- not $300.
So in order to pay $4,000 GST, the household need to spend $44,444.44 cents on goods and service per year.
And if one household can spend $44,444.44 cents on goods and service per year --- you are already consider a middle income group.
That means you can already buy one TV, one Fridge, one laptop, 4 smartphones, go for a tour with the whole family, go foodcourts for weekends, 1 month go 1 restaurant, pay all household expenses etc --- and live a comfortable life.
Except you cannot buy a car that cost $120,000 but can buy an eScooter that cost $1,200.
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Nicholas Ong ·
Ricky Lim wow... I don't know what to say dude. I have a somewhat complicated family background, and I can assure you that my rebate is low because I'm rich, it's because most of my family isn't working.
For you to tell me I must be very rich and staying in private condos is somewhat insulting. The GST increase might not touch you at all, but there exists circumstances that the government cannot account for, and this increase will mean an uncomfortable pace of life for us for the next few years.
Thank you for your elaborate calculations, but as they do not apply to me they don't mean anything to me.
For you to tell me I must be very rich and staying in private condos is somewhat insulting. The GST increase might not touch you at all, but there exists circumstances that the government cannot account for, and this increase will mean an uncomfortable pace of life for us for the next few years.
Thank you for your elaborate calculations, but as they do not apply to me they don't mean anything to me.
Ricky Lim ·
Nicholas Ong - my last comment - you have not accounted for alot of things in the GST credit - whether you admit or not.
But no point arguing if you don't admit it.
And if you or your family genuinely face problem - you should look for your MP or social welfare office that will offer targeted help. Don't let problem trouble you when alot of social welfare helps are around. Government are there to help you so that you can live better, not to make life difficult for you.
This is so much I can offer.
Also This is my last comment.
But no point arguing if you don't admit it.
And if you or your family genuinely face problem - you should look for your MP or social welfare office that will offer targeted help. Don't let problem trouble you when alot of social welfare helps are around. Government are there to help you so that you can live better, not to make life difficult for you.
This is so much I can offer.
Also This is my last comment.
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Nicholas Ong ·
Ricky Lim Indeed, there is no point continuing on in this arguement when you are only looking at things that fit your narrative. Thank you for your advice, however.
Good day to you too.
Good day to you too.
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