Are you ready for 7 million people on tiny Singapore?
-
pirate:
Yap!.... thus it's viewed as the fairer form of tax.
Because top tier personal income tax is easily avoided by a little bit of tax planning. Only the salarymen and professionals get hit. The big towkays can structure their income into something else. As for the criminals and their undeclared income...limlim:
GST if necessary, is fine with me. But it should be kept low at say, 3% and still contribute to revenue.
If not enough, then the income tax of top tier shouldn't be reduced. Why can't they keep it at say, 25% while introducing GST?
Reducing income tax and increasing GST just doesn't makes sense to me other than benefiting the rich.
I'm okay with GST but don't agree with reducing top tier income tax to increase GST.
On the other hand, if you want to ride around in your very own $500,000 Mercedes in Singapore, you have to pay $35,000 GST. It doesn't matter if you make your money from bank interest, stock dividends, capital appreciation, speculating on the stock market, gambling at the casino, underdeclaring the number of plates of char kway teow you sell, loansharking or rigging soccer games in Europe. You still have to pay $35,000 GST. -
3Boys:
bcoz it was 3% when it was introduced.. :evil:
And from where did you arrive at this figure of 3% from? Plucked out of the air? Why not 0% like HK, why not 8% like Switzerland, why not 20% like Ghana or Norway?limlim:
GST if necessary, is fine with me. But it should be kept low at say, 3% and still contribute to revenue.
If not enough, then the income tax of top tier shouldn't be reduced. Why can't they keep it at say, 25% while introducing GST?
Reducing income tax and increasing GST just doesn't makes sense to me other than benefiting the rich.
I'm okay with GST but don't agree with reducing top tier income tax to increase GST.
What's wrong with 7%?
Increase it? fine, if necessary.. That is fine with me.. :evil: but not before increasing top tier tax to 25%. -
Harlequin:
You pay GST before for such goods when you are carrying them or put them unpacked (w/o original boxes, price tag) in luggage?pirate:
$1,000,000 Ferrari. GST $70,000. Cannot buy from Italy. Actually can, but still have to pay the GST when shipped into Singapore.
Any goods above SGD400 brought in to SG for consumption are liable for GST; can hide lah, but must pray hard don't get caught, if get caught kena pay hefty fine plus GST.
Even those luxury items bought at Changi Airport departure hall's duty free shops if brought back to SG on your returning flight are subjected to GST.
For item shipped in, yes. For hand carry stuff.. highly doubt so. Unless you looked like bringing them in to sell that kind. -
Mdm Koh:
And that in itself does not justify that we have to go down the same path.
Your first question should be forwarded to the ministers in parliament. I am not able to provide figures that are not readily available online. All I can say is that GST exemption on medical services is implemented in other developed countries. Thus far, the economies of those countries have not collapsed yet. Just like how all those countries with a strong welfare system are still around and some of them, like Denmark, seem to be doing well.3Boys:
Again, this is quite an unsubstantiated assertion. Pray tell, how much revenue did the g'ment earn from GST on medical services? Versus how much did they pump back in in terms of subsidies?
Please don't confuse the issue. The point is keeping the whole thing affordable, not about the GST per se.
So why is it justifiable for people to spend discretionary income on hairdos and holidays, but not on medical care?
Don't need to ask Minister, a bit digging by a concerned citizen out for the truth will give you some ball park numbers;
http://www.mof.gov.sg/budget_2012/download/FY2012_Budget_Highlights_part1.pdf
Total GST receivables for 2011 = $8.4 billion
Even if healthcare contributed say 10% of that (a huge stretch, since healthcare will likely be less than 2% of economy)
http://www.singstat.gov.sg/stats/themes/economy/ess/essa11.pdf
The assumed max total GST receipts from healthcare would be $840 million.
The total amount of healthcare budget spent in 2010 was $3.9 billion.
http://www.mof.gov.sg/budget_2012/download/FY2012_Budget_Highlights_part1.pdf
That's a nett spend of over $3 billion, even assuming the wildest estimate of receipts from healthcare GST.
They are all available online (easily), just need to be interested enough to go look for it.
Perhaps your single personal experience has clouded your view, but I would be careful about extrapolating that to a generalised conclusion that may actually be damaging in the long run. -
3Boys:
And that in itself does not justify that we have to go down the same path.
Your first question should be forwarded to the ministers in parliament. I am not able to provide figures that are not readily available online. All I can say is that GST exemption on medical services is implemented in other developed countries. Thus far, the economies of those countries have not collapsed yet. Just like how all those countries with a strong welfare system are still around and some of them, like Denmark, seem to be doing well.Mdm Koh:
[quote=\"3Boys\"]
Again, this is quite an unsubstantiated assertion. Pray tell, how much revenue did the g'ment earn from GST on medical services? Versus how much did they pump back in in terms of subsidies?
Please don't confuse the issue. The point is keeping the whole thing affordable, not about the GST per se.
So why is it justifiable for people to spend discretionary income on hairdos and holidays, but not on medical care?
Don't need to ask Minister, a bit digging by a concerned citizen out for the truth will give you some ball park numbers;
http://www.mof.gov.sg/budget_2012/download/FY2012_Budget_Highlights_part1.pdf
Total GST receivables for 2011 = $8.4 billion
Even if healthcare contributed say 10% of that (a huge stretch, since healthcare will likely be less than 2% of economy)
http://www.singstat.gov.sg/stats/themes/economy/ess/essa11.pdf
The assumed max total GST receipts from healthcare would be $840 million.
The total amount of healthcare budget spent in 2010 was $3.9 billion.
http://www.mof.gov.sg/budget_2012/download/FY2012_Budget_Highlights_part1.pdf
That's a nett spend of over $3 billion, even assuming the wildest estimate of receipts from healthcare GST.
They are all available online, just need to be interested enough to go look for it.[/quote]Wow! $3b on healthcare budget alone!! Better urge the gov not to cut GST manz.... with the aging population, this figure sure to go up.... could easily bankrupt our coffer in 20/30years time. -
limlim:
Ya lor. Must discourage Singaporeans from marrying foreigners from those low class countries. We don't want them muddying the pure bloodlines of true blue Singaporeans.How would I not understand this. If one wanna get a foreign spouse, one shd willingly pay the cost. I believe I have visited the ICA more times than you go and renew your passport, for all kinds of stuffs at level 4 with my friend.
Cannot tahan a bit of inconvenience? -
limlim:
Geez....did you even reflect before you said that???
How would I not understand this. If one wanna get a foreign spouse, one shd willingly pay the cost. -
pirate:
Must marry up, cannot marry down :siam:
Ya lor. Must discourage Singaporeans from marrying foreigners from those low class countries. We don't want them muddying the pure bloodlines of true blue Singaporeans.limlim:
How would I not understand this. If one wanna get a foreign spouse, one shd willingly pay the cost. I believe I have visited the ICA more times than you go and renew your passport, for all kinds of stuffs at level 4 with my friend.
Cannot tahan a bit of inconvenience? -
Harlequin:
It was pirate actually, but I concur.....
Like 3B said, the rich and the medical tourists currently are being taxed GST on medical which could be fund for the the low income heavily subsidized group.... need a formula lah.... -
Harlequin:
Must marry up, cannot marry down :siam:
But wait the kiddoes decide to go play soccer for South Africa instead of Singapore. Then how?
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