GST Offset Package

last SG · 2007-05-15T01:39:46+00:00

Wtf. I signed up through the internet months back and still have not gotten anything credited into my bank account.

FireIce SG

at least got 5cents back lah

sunnytv SG

We get $200-$350 for GST package per year, more like micronut GST offset, while they get thousand to million rise per year. Their is more like GST offset forever, comfort, coconut pay.

FireIce SG

then how?

go be a minister?

machete SG

Idea Idea Idea

soulwinner SG

have you ever consider to be a minister or perhaps a MP?

zane80 SG

Just my own opinions. If I were earning 5k monthly and already have 2 million in my bank account and i m just 27 years old, I dun think i would realli complain. Maybe most of the complainers are either poor or have not much money in their bank accounts. That explain the number of posts here. What do you think? If you are filthy rich, would you complain about the 100 to 200 for the GST package? hmmmm…........

jolintay SG

I think like most developed economies, consumption based tax (such as GST) will increase. Hence I have no objections against the GST increase. But what should also happen at the same time is that there is a decrease in non-consumption based taxes, such as income tax. In other words, as GST increases, income tax should fall. It is that second part that we are not seeing.

Another example is road tax [I got no car Sad ]. With increases of ERP rates (consumption), there should be a corresponding decrease in road tax (non-consumption based). We are not seeing that second part.

GST offset packages are one-off goodies that make no econmic sense. They are really only to gain political capital and citizen goodwill.

zane80 SG

With inflation, all things will be less affordable. Can you think of something that is cheaper compared to 10 years ago? Yr last sentence whom u refer to they, are u referrin to politicians? Well, its better for the government to expand their treasury as big as possible because in times of financial crisis, we will be better prepared for it. We dun want our economies to end up like those in south america, rite? if u think that some taxes will decrease when some taxes are increased, u are being wrong, or naive. In sg, everyone wants a car, so y decrease taxes on something that is popular? Well, if u dun want yr offset package, u can give them to me if u dun need $$$, lol.

jolintay SG

Nope, not expecting them to reduce road tax. Just 2 points:

(i) increases in certain taxes should only be at the expense of decreasing others. The idea that we need to keep accumulating foreign reserves because someday we may need it, is correct in principle, but needs to be balanced against the need to provide a decent cost of living to the citizens. Any government in the world can use the fear tactic and say we need to increase taxes, just in case we need the money down the road. A good and mature government is one that satisfies that need, but balances it against other concerns.

(ii) increases in taxes require a check and balance approach. Until today, I have not heard a single convincing argument why gst needs to be raised. Help the poor and lower middle class? Using a small fraction of the profits made by Temasek (and maybe Singapore Pools also) each year will be sufficient for such expenses.

^tamago^ SG

elite spotted. Cool

Urroh SG

In SG there are alot of elites.. Razz

Panache1976 SG

Your point about balancing GST with income tax cuts is very valid. Maybe this will come at the next recession, to stimulate the economy.

GST, like capital gains tax, is designed to target the wealthy, non-working population - think retired baby-boomers. Our demographics is shifting in the coming decades (aging population) so the tax system must adjust to distribute the tax burden more evenly. Without GST, the tax burden would have to fall entirely on a smaller percentage of younger workers, resulting in higher income tax for them.

So who suffers most from GST? People who are retiring now without enough savings. Put simply, Singapore will not be a nice place for poor people who don't or can't work... Rolling Eyes

Who is to blame? Errmm... us i guess, or people like me, who didn't listen to the government all these years and produce 3 babies to fund my retirement Mr. Green

DjMatrix SG

going to affect me soon Sad

Kenashi SG

it is finally coming Laughing

duotiga83 SG

in the end also return to them ma..... Laughing

caleb_chiang SG

Well... When it is Money, it will never be enough for most.... Laughing

Else why the raise of the ministers' salary when they are sky high while someone say that they will be suffering if there were no raise...

Kenashi SG

no choice
we can't do this, we can't do that
the only thing we can do is earned enough money n leave this place Twisted Evil

noahnoah SG

When will the offset uility charges start?

^tamago^ SG

It's in this morning~!

Airbus330Captain SG

Just received my too. Using the same bank as you, Tamago. Wink

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