Gst

[bluemilk]

i dun think gst will be raised soon la. it doesnt make sense since inflation is at all time high.

where did you get the source of info?

 

[twinseeker]

GST to be raised soon, well what's new? no surprises. many yrs back, they already made it known that they aspire to mimic some of the 1st world countries - prevailing GST/VAT/SAT already prevailing at 15%

 

[michael_368]

Dont think our Gov going to raise the GST in the due time because the current Inflation .

 

[suteerak1099]

they said;
raising the retirement age is in hope to ensure social security
lowering the erp prices will not remedy traffic situations
increasing ppl's wages will nt do the economy any good in light of the current inflation

even if there were to be a poll, all it takes is more than 4 hands in favor of the motion, GST can & will be raised to the next level.

66+% of the ppl put them where they are, so that they can make decisions to make life miserable for 80~85% of the ppl, and aggrevate the lives of 15~20% of the ppl.

 

[kiko]

I think the GST is just a matter of time , it will raise up to 10 %..

 

[JohnTT]

Dont think our Gov going to raise the GST in the due time because the current Inflation .

But news & article reports keep mentioning that Singapore economy will still be strong for the coming years.....

 

[JohnTT]

GST to be raised soon, well what's new? no surprises. many yrs back, they already made it known that they aspire to mimic some of the 1st world countries - prevailing GST/VAT/SAT already prevailing at 15%

15%!!!! How to survive like that???? :(

 

[twinseeker]

But news & article reports keep mentioning that Singapore economy will still be strong for the coming years.....

All things listed in the media should always be taken with a pinch of salt. Many yrs back, there're many things written & said in the media that the garmen would do this & that. Today, many of the things listed are still at the teething stage. Some of it didn't even kick off till nearly a decade after. The loophole in the system is, when people are too occupied & conerned about making the 3meals a day, people tend to pay less attention, or forget what has been promised.

Our economy & livelihood strongly dependant on neighbors, even for simple things like commodity. With the escalating prices & instability in the region, how true can it be, that our economy will be strong? Look at the indexes in the past 6mths, everything is in the red and had been on a down trend. Look at the charts for the past 2yrs, our economy had been on a gradual decline. Look at the charts for the past 5yrs, we're still lower than where we were 5yrs ago.

Costs of living has gone up significantly, and remuneration island-wide has stagnated. Economy is less vibrant, and people are now attempting to spend wisely. The only way to pull the economy back up on paper is to enforce transactions to boost the GDP. True enough, we're inevitably forced to incur higher expenditure, credit to the newly increased ERP gantries, hiked transportation fares, as well as GST. With that, the statistics will still reflect that we have a high annual GDP, despite lesser transactions in general.

 

[twinseeker]

15%!!!! How to survive like that???? :(

In many of the western 1st world countries, their economy is considerably sound because they're self sufficient. They produce ample commodity to feed their own population, and rely very little on having to import necessities. Even with the higher GST/VAT bourne by the people, the pinch doesnt hurt as much. The people have less to complain because of the very extensive social security system.

Policies that have the interest of the people in mind. Free education, 80-100% reimbursement for medical consultations, heavy subsidies on many other daily needs. (Prices of goods sold on the shelves, especially food & necessities are very much cheaper than even our local house brand products.) Strong labour unions to instill fairness for employees, ensuring welfare & just remuneration for the people. Stringent limitations for foreign labor, protecting the interest of the locals. While the jobless/retrenched has the 'dough' to fall back on to tide over until they get back on their feet again, and a whole long list.

Strong advocation to help the population save up for rainy days, marking decent savings interests, lesser pressure even as they take loans from the govt. While on our part, what can 0.125-0.25% savings interest benefit us? How much better can it get when loan interest averages 4-15% or more?

Yes, the dues are higher in such countries, but people generally are enjoying a better quality of life. Here, how much good do we gain out of what we bleed and sweat for?

 

[suteerak1099]

..... Yes, the dues are higher in such countries, but people generally are enjoying a better quality of life. Here, how much good do we gain out of what we bleed and sweat for?

i think there's also another matter that u havent really highlighted, the social security system is extensive in most 1st world countries, where it helps the entire nation in big n small ways. regardless of nationality, we have abide by legislation for community contribution. retirement really is nt a big issue of concern.

1 thing i've observed, its like a cycle of population taking turns to fill the city with manpower. the older they grow, they gradually move out further from the hectic cities. where costs of living is also lower, pace of livelihood also slower. hence even if there was a significant population relying on the dough for retirement, the dollar is somehow stretched a lil so it lasts longer as well.

on the contrary, given the limitations of this island city. the older generation stands to be at a disadvantage, for the sooner they retire, the more struggles theyd encounter digging on the very marginal savings, while still encountering the high living standards, since none can really escape the incremental costs of living.

 

[High Command]

But news & article reports keep mentioning that Singapore economy will still be strong for the coming years.....

Sounds like preparations for another round of GST hikes to me

 

[wahlau]

Nah, it won't be done in the next 2-3 years but beyond that, I can't say. We all know 2 things for sure: taxes go up and death comes knocking.

Britain started their VAT (similar to GST) at 6%. Today it's 18%. I figure it will hit 10% when we adopt this swedish family planning policy of giving heavily subsidised child care, paternity leave, etc,

Someone gotta pay for it. So, do be too happy and start screwing.

 

[High Command]

Nah, it won't be done in the next 2-3 years but beyond that, I can't say. We all know 2 things for sure: taxes go up and death comes knocking.

Britain started their VAT (similar to GST) at 6%. Today it's 18%. I figure it will hit 10% when we adopt this swedish family planning policy of giving heavily subsidised child care, paternity leave, etc,

Someone gotta pay for it. So, do be too happy and start screwing.

Death is more inviting these days. :p