GST Hike

[itsybitsyspidy]

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

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

 

[kcuf2]

if u are the retailer, wat would u do to max ur profits?

 

[xtemujin]

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.

 

[AReality]

the 2% surcharge is optional, GST is not.


.

 

[compro_1975]

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

 

[reachme2003]

not all businesses are gst registered.

the 2% surcharge is optional, GST is not.


.

 

[reachme2003]

my guess is 1 Apr.

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.

 

[aaron80]

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

 

[westwest1]

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...

 

[raincool2005]

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 ?

 

[Static]

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

 

[Astin]

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...

 

[raincool2005]

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

:think:

 

[ernest_ted]

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....

 

[Astin]

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.

 

[Sjourn]

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

 

[Astin]

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.

 

[ernest_ted]

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.... :dunno:

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)

 

[reachme2003]

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

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.

 

[Deadpoet]

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.