Here it comes! Higher GST - Yay!

[Boliao]

https://sg.finance.yahoo.com/news/higher-gst-looms-horizon-government-064700842.html

It’s a prime candidate for adjustment, experts say.

After winning a historic election, Singapore’s ruling party is expected to stick to the relatively more populist policies that it has unveiled in recent years.

According to a report by BMI Research, the government will need new revenue streams as it seeks to strengthen social safety nets and increase support for low-income elderly citizens.

“One key area to watch will be the goods and services tax (GST), which has been utilised by the government as a tool to shore up revenue amid declining income and corporate tax rates over the past two decades,” BMI Research said.

“While the recent increase in the top marginal income tax rate will provide some support to the government's annual intake, Singapore's ageing population and the government's growing commitment towards supporting low-income elderly citizens will likely necessitate additional revenue streams, and an increment to the current GST level of 7.0% is a prime candidate for adjustment,” the report added.

 

[tonychat]

Singapore BELONGS TO Singaporeans ONLY!

can i correct this: Singapore BELONGS TO Singaporeans who have balls ONLY!!!!

 

[winnipegjets]

10 percent GST to cover the pay increase of ministars and more money for the all PAP elites.

 

[no_faith]

Once news confirm 10% gst. Wat u will see and hear?
Walaueh si chenghu, 10% gst wan ppl life.
Everything so expensive how can. Chenghu how can lidat.
And so on.....
Then next election.....pap pap pap.
Yawn....boring la these ppl.

 

[tonychat]

You still stay in sinkieland?

 

[laksaboy]

Once news confirm 10% gst. Wat u will see and hear?
Walaueh si chenghu, 10% gst wan ppl life.
Everything so expensive how can. Chenghu how can lidat.
And so on.....
Then next election.....pap pap pap.
Yawn....boring la these ppl.

I would expect the propaganda (e.g. Gov SG Youtube channel) to be out in full force on why a GST hike is necessary, how some people might even end up paying lower taxes, and how the govt will take care of the lower-income citizens and 'cushion the impact of the GST hike'.

 

[JHolmesJr]

Raising gst in a recession.....thats not very smart.

This will only squeeze spending more.

 

[bakkuttay]

70% will be very grateful for 10% gst

 

[ahpong]

10 percent GST to cover the pay increase of ministars and more money for the all PAP elites.

They also need money to buy your votes. Using your own money to buy your votes, and the 70% are so happy about it.

 

[Dynasty]

https://sg.finance.yahoo.com/news/higher-gst-looms-horizon-government-064700842.html

It’s a prime candidate for adjustment, experts say.

After winning a historic election, Singapore’s ruling party is expected to stick to the relatively more populist policies that it has unveiled in recent years.

According to a report by BMI Research, the government will need new revenue streams as it seeks to strengthen social safety nets and increase support for low-income elderly citizens.

“One key area to watch will be the goods and services tax (GST), which has been utilised by the government as a tool to shore up revenue amid declining income and corporate tax rates over the past two decades,” BMI Research said.

“While the recent increase in the top marginal income tax rate will provide some support to the government's annual intake, Singapore's ageing population and the government's growing commitment towards supporting low-income elderly citizens will likely necessitate additional revenue streams, and an increment to the current GST level of 7.0% is a prime candidate for adjustment,” the report added.

can i say that u are really boliao?

 

[Boliao]

can i correct this: Singapore BELONGS TO Singaporeans who have balls ONLY!!!!

I stand corrected!

 

[ExtraHum]

Just curious, are there any tax rebates in SG?

 

[johnny333]

Raising gst in a recession.....thats not very smart.

This will only squeeze spending more.

I've heard the PAP described as sly, cunning, deceitful,.... etc but never decribed as SMART

 

[JHolmesJr]

I've heard the PAP described as sly, cunning, deceitful,.... etc but never decribed as SMART

thats because the comment isn't directed at them per se….its a general observation re: economics.

 

[GoldenDragon]

I've heard the PAP described as sly, cunning, deceitful,.... etc but never decribed as SMART

Have they ever been described as manipulative and trying to be popular in the same sentence? Imo, tough. When one is manipulative, he cannot be popular. When one is popular, he cannot be manipulative.

 

[GoldenDragon]

thats because the comment isn't directed at them per se….its a general observation re: economics.

Sorry 16 min behind.

 

[Ambulance]

halo mai kao peh leow lah ong deh eh sin sah ho cheng boh

[video=youtube;EVa8scXgP2I]http://www.youtube.com/watch?v=EVa8scXgP2I[/video]

 

[johnny333]

thats because the comment isn't directed at them per se….its a general observation re: economics.

Spore is run like a family business without any accountability to taxpayers.
We hear about Temasick's strategy of buying low & selling high.

Unfortunately the losses are passed on to the "lesser mortals" while those responsible continue to receive ridiculously high wages.
I suspect it is one of the reasons we will never get back out CPF until one kicks the bucket

 

[johnny333]

Have they ever been described as manipulative and trying to be popular in the same sentence? Imo, tough. When one is manipulative, he cannot be popular. When one is popular, he cannot be manipulative.

At least LKY was honest about being an asshole:o

 

[yellowarse]

Unfortunately the losses are passed on to the "lesser mortals" while those responsible continue to receive ridiculously high wages.

Yes, we practise socialism. Socialize the losses, privatize the profits.