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Thread: GST Hike

  1. #1

    Default GST Hike

    I wasn't into photography the last time GST rose from 3-5%. Ang now it's going up to 7%

    Do camera equipment retailers usually absorb that increase in in GST? Or do they just offset it to the consumers?

  2. #2
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    Default Re: GST Hike

    if u are the retailer, wat would u do to max ur profits?
    09 Oct 09 officially marks the date I become a canon convert.

  3. #3
    Senior Member xtemujin's Avatar
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    Arrow Re: GST Hike

    We still have no idea when is the expected date for the GST hike to 7%.

    Not only do we have to pay the GST, there is a 2% surcharge that has to be borne by the buyer if you are using credit card.

  4. #4

    Default Re: GST Hike

    the 2% surcharge is optional, GST is not.


    .

  5. #5

    Default Re: GST Hike

    Quote Originally Posted by xtemujin View Post
    We still have no idea when is the expected date for the GST hike to 7%.

    Not only do we have to pay the GST, there is a 2% surcharge that has to be borne by the buyer if you are using credit card.
    wat abt debit card?? no extra charges rite?

    to TS: i-ya wat to do, just live with the hike lor, i am poor, so will be helped and not been left behind

  6. #6

    Smile Re: GST Hike

    not all businesses are gst registered.

    Quote Originally Posted by AReality View Post
    the 2% surcharge is optional, GST is not.


    .

  7. #7

    Smile Re: GST Hike

    my guess is 1 Apr.

    Quote Originally Posted by xtemujin View Post
    We still have no idea when is the expected date for the GST hike to 7%.

    Not only do we have to pay the GST, there is a 2% surcharge that has to be borne by the buyer if you are using credit card.

  8. #8

    Default Re: GST Hike

    That means everyone better find a cure to BBB virus before the 7% hits us.. Or maybe thats the cure?

  9. #9
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    Default Re: GST Hike

    Quote Originally Posted by compro_1975 View Post
    wat abt debit card?? no extra charges rite?

    to TS: i-ya wat to do, just live with the hike lor, i am poor, so will be helped and not been left behind
    want to know...call the bank...ans to your question is there...

    you sure you poor...

  10. #10
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    Default Re: GST Hike

    on 15 Feb, we will know the outcomes..

    frankly speaking, there is no way to escape GST hike.. even when u buy it now.

    Just sit down and calculate... things are just keep getting expensive and the only way is not to spend. However this is impossible in Singapore.

    Until now, i am still wonder how the hike will help the needy and the poor in the society.. i wonder how ? u can help them today , tomm or even next 3 years.. but it cannot be the solution so often. Dun tell me, next 5 years another hike to 10% becos we had more poor and needy people in 5 years time ?
    Last edited by raincool2005; 12th February 2007 at 03:17 PM.

  11. #11
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    Default Re: GST Hike

    Quote Originally Posted by raincool2005 View Post
    on 15 Feb, we will know the outcomes..

    frankly speaking, there is no way to escape GST hike.. even when u buy it now.

    Just sit down and calculate... things are just keep getting expensive and the only way is not to spend. However this is impossible in Singapore.

    Until now, i am still wonder how the hike will help the needy and the poor in the society.. i wonder how ? u can help them today , tomm or even next 3 years.. but it cannot be the solution so often. Dun tell me, next 5 years another hike to 10% becos we had more poor and needy people in 5 years time ?
    Whip harder if u want ur horse to run faster
    陳綺貞 2010 [夏季練習曲] 巡迴演唱會 Cheer Concert 13 Nov 2010 MAX Pavilion@Singapore Expo

  12. #12
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    Default Re: GST Hike

    Quote Originally Posted by raincool2005 View Post
    on 15 Feb, we will know the outcomes..

    frankly speaking, there is no way to escape GST hike.. even when u buy it now.

    Just sit down and calculate... things are just keep getting expensive and the only way is not to spend. However this is impossible in Singapore.

    Until now, i am still wonder how the hike will help the needy and the poor in the society.. i wonder how ? u can help them today , tomm or even next 3 years.. but it cannot be the solution so often. Dun tell me, next 5 years another hike to 10% becos we had more poor and needy people in 5 years time ?
    I believe it is to increase the gst and at the same time reduce company tax and income tax, so company will do better and keep the jobs here, and workers pay less tax and have more $ to spend; and also maybe a special payout to the poor to cushion the impact.
    And if above works, then u got to prepare for more gst hike. If u understand it then its not too bad...

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    Default Re: GST Hike

    Quote Originally Posted by Static View Post
    Whip harder if u want ur horse to run faster
    hi, please know that the horse wants to run but the tracks are just too narrow and too short.

    Not much opportunities


  14. #14
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    Default Re: GST Hike

    Quote Originally Posted by Astin View Post
    I believe it is to increase the gst and at the same time reduce company tax and income tax, so company will do better and keep the jobs here, and workers pay less tax and have more $ to spend; and also maybe a special payout to the poor to cushion the impact.
    And if above works, then u got to prepare for more gst hike. If u understand it then its not too bad...
    i do understand....however salary does not increase every year....on bad years there will be pay cut, less bonus.....but there is no reduction in GST....

    GST ultimately hits the consumers....it does not really affect the company as they will pass it on to the consumers....But if there is less spending, the company will suffer decrease in sales....

    Low sales...no need to hire so many workers...down size....less pay...and the cycle goes on....

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    Default Re: GST Hike

    Quote Originally Posted by ernest_ted View Post
    i do understand....however salary does not increase every year....on bad years there will be pay cut, less bonus.....but there is no reduction in GST....

    GST ultimately hits the consumers....it does not really affect the company as they will pass it on to the consumers....But if there is less spending, the company will suffer decrease in sales....

    Low sales...no need to hire so many workers...down size....less pay...and the cycle goes on....
    So the question is what hit what first, assume that government give each $1k bonus, and reduce the income tax, then many ppl will have extra cash to spend, and will buy "something" and increase the company sales, company do good then keep the jobs here, the cycle goes on.

    Or, like in the 90s, no gst, high income tax, ppl have no extra cash spend, cannot buy "something", company do bad and move away.

  16. #16
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    Default Re: GST Hike

    aiyah...just buy from HK lo....

  17. #17
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    Default Re: GST Hike

    Quote Originally Posted by Sjourn View Post
    aiyah...just buy from HK lo....
    Thats exactly why I guess some retailers "will not" pass on the gst to the consumers, and they will absorb the 2%; if the 2 cities have big price difference, then ppl will just fly to HK and buy.

  18. #18
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    Default Re: GST Hike

    Quote Originally Posted by Astin View Post
    So the question is what hit what first, assume that government give each $1k bonus, and reduce the income tax, then many ppl will have extra cash to spend, and will buy "something" and increase the company sales, company do good then keep the jobs here, the cycle goes on.

    Or, like in the 90s, no gst, high income tax, ppl have no extra cash spend, cannot buy "something", company do bad and move away.
    true true....

    sigh....tt time HDB cost <$100k...now >$300k....

    LOL...$1k bonus....tt will be the day.....

    anyway 90s was fuel by relax CPF to buy shares / houses and Singtel IPO....
    then GST 3% came in....(iirc)

  19. #19

    Smile Re: GST Hike

    but, upon bringing it back here, it will still attract gst if the value exceeds $400.00.

    Quote Originally Posted by Astin View Post
    Thats exactly why I guess some retailers "will not" pass on the gst to the consumers, and they will absorb the 2%; if the 2 cities have big price difference, then ppl will just fly to HK and buy.

  20. #20

    Default Re: GST Hike

    GST ... sales tax, value added tax, whatever you call it, is the most unfair tax of them all. GST hits the poor the hardest. That is why,m in many places with hight GST, such tax is exempted from daily necessity, such as food, medicine .... not here in Singapore.
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