GST hike ‘more likely’ if Govt needs to raise revenue

[raysusan]

very high chance to 10%


an article to test the market now
someone need $

[Harlequin]

Mmmm… my guess is GST will be increse to 8%, 8.5% or 9%, but not likely in this year… maybe 1/7/2014?

[Harlequin]

raysusan:

very high chance to 10%


an article to test the market now
someone need $

All good things need to be paid for mah... increase social spending is a long term commitment that requires heavy financing

[Dora1]

Well, I’ll first like to ask where did all the money from land sales, housing stamp duty, ABSD, COE, ERP go to? We have been seeing insane rises on all these in the past few years. Show us the books first. How much extra has been collected from all these as compared to previous years. Can these fund the extra medical and housing benefits announced recently? If not, how much is the shortfall?

[3Boys]

Congrats guys! We have now officially moving to a high tax, high benefits society.

[Augmum]

It’s juz a matter of time for the GST hike…

[3Boys]

Sweden VAT - 25%


http://en.wikipedia.org/wiki/Taxation_in_Sweden

Denmark VAT - 25%

http://www.visitcopenhagen.com/copenhagen/customs-and-vat

Finland VAT - 24%

http://www.vero.fi/en-US/Tax_Administration/News/Changes_in_VAT_on_1_January_2013%2825751%29

France VAT - 19.6%

10% for Singapore? If we keep spending the way we do, I'd be surprised it not hit 25% by 2050.

[3Boys]

Dora1:

Well, I'll first like to ask where did all the money from land sales, housing stamp duty, ABSD, COE, ERP go to? We have been seeing insane rises on all these in the past few years. Show us the books first. How much extra has been collected from all these as compared to previous years. Can these fund the extra medical and housing benefits announced recently? If not, how much is the shortfall?

Land sales are one-offs, ABSDs are one-offs, you can't keep supporting perpetual social programs with one off items.

[3Boys]

Anyway, for those who are interested in where the government generates its income -->


http://www.singaporebudget.gov.sg/budget_2013/revenue_expenditure/attachment/04%20Government%20Revenue%202013.pdf

....and how it spends money.....-->

http://www.singaporebudget.gov.sg/budget_2013/revenue_expenditure/attachment/05%20Government%20Expenditure%202013.pdf