While the government throws away our hard earned money into
frivolous acquisition of over-priced companies overseas. The
commoners are left with having to pay the price with high levels of
inflation, taxes, fees, charges and fines.
Ever wonder why our wages are so depressed, while citizens from
other equivalent GDP per capita economies (e.g. Australia, New
Zealand, Ireland, etc) can better afford holidays overseas. Their
average wages are at least 3-5 times of Singaporeans (e.g.
waiters and retail assistant makes AUD 15 to AUD 25 per hour).
Singaporeans can only contend with 3rd world standard of living in
the future, given the government's policy on letting in more 3rd
world workers to push down wages.
The explanation for low wages given by P4P was global competition,
seems like competition only applies to Singapore ONLY. But not to
countries such as Australia or New Zealand.
P4P lackeys here complain that some of these countries like
Australia, New Zealand, etc have high tax structure. But given
their wages, they still make more than the average Singaporeans and
could afford more despite their high tax structure. Notwithstanding
that they do not need to pay for healthcare and basic
education.
***This comparison is based only on the after tax spending power of
low wage earners of both countries. I do not think that we need to
compare the after tax spending power of high income earners,
because they are still extremely well off after taxes.***
Singapore:
Income per year: SG$12,000
Income Taxes: 0%
GST: 7%
Spending Power
After GST: SG$11,160 [SG$12,000 x 93%]
Australia:
(waiter or retail staff based on 3 times earnings of Singaporean
only, not 5 times which is the higher bound)
Income per year: AU$36,000
Income Taxes: up to AU$6,000 = AU$0; AU$6,001 to AU$25,000 =
AU$2,850;
AU$25,001 to AU$36,000 = AU$3,300
Australia Personal Tax Rates
Total Income Taxes: AU$6,150 [AU$ 0 + AU$ 2,850 + AU$ 3,300]
Income after Income Taxes: AU$29,850
GST: 10%
Spending Power
After GST: AU$26,865 [AU$29,850 x 90%]
An average waiter in Australia will have a spending power of
AU$26,865, while a Singaporeans waiter will have only SG$11,160.
Why do you think when we go for holidays overseas, we can afford
less than an equivalent GDP per capita country like Australia or
New Zealand.
You do the maths and tell me who is actually better off after
personal taxes and GST.
Singaporeans or Australians???
Though Australia might have a higher personal tax structure, but
their average wages are 3 to 5 times of Singaporeans. Even after
deducting high taxes and GST, they still do end up with more money
in the pocket than an average Singaporean. Moreover, they have no
need to pay for healthcare and basic education.
Australian
Wages
Bartending/waiting tables: $15 - $25 per hour (casual)
Chef: $700 - $800 per week (full time)
Retail sales assistant: $15 - $25 per hour (casual)
Check out operators and cashiers: $500 - $700 per week (full
time)
Building/labouring: $650 - $850 per week (full time)
Engineering: $800 - $1500 per week (full time)
Hairdressing: $530 - $650 per week (full time)
Secretarial/administration: $600 - $700 per week (full time)
Child care: $18 - $20 per hour (casual)
