DBS vs OCBC and UOB

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Tuckie

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Wa.... GST 10% is no joke.

Right now my tuition centre charges 7% GST, some parents oredi grumble......:s22:

But I told them the GST goes to the garmen, not me!

there's two ways of doing it if GST goes up to 10%, the tuition centre takes the damage by keeping prices parents pay the same, effectively reducing after-GST revenue. or increase the prices paid by parents keeping after-GST revenue the same.
 

SpinFire

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Seniors aged 55 and above will receive a Seniors’ Bonus of up to S$600, double the amount they usually receive. The move will benefit some 1.4 million Singaporeans and cost the Government an additional S$385 million. Those above the age of 65 and living in HDB flats will get an additional S$300 and a total of S$900.

garmen double down on ang pows to win old people's votes

sibei cunning sia

Yeah, PAP is going all out to win the votes of the elderly aka 'Pioneer Generation'.

On the side note, this budget is beneficial for companies providing training and courses. But there aren't many listed on SGX, perhaps only Raffles Edu. The ones making good money are all privately held.:vijayadmin:
 

winorlose

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Same as pic claim what.. So many centres 3days courses charging 5k each time.. Go 3courses 15k pic claim.

Haha..the underlying $$ details i wont say la..
 
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Wa.... GST 10% is no joke.

Right now my tuition centre charges 7% GST, some parents oredi grumble......:s22:

But I told them the GST goes to the garmen, not me!

That's the only direction gst will go since we wouldn't want to increase corporate tax. You'll surprise how much revenue growth they have on gst over the years.

But I think sole proprietor and partners are gonna get a hit in YA2017 with the increase tax rate on the top tier.
 

pcmdan

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Think we get to enjoy some benifits. Its better than the previous one. E.g 50% tax rebate cap at 1k and also a study credit if you sign up for a course that improve your skill.

Also, giving to the seniors also indirectly benefits us since our parents belong to that category. Won't you agree?

my parent not that age yet
 

SpinFire

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Same as pic claim what.. So many centres 3days courses charging 5k each time.. Go 3courses 15k pic claim.

Haha..the underlying $$ details i wont say la..

Yeah the govt is desperately trying to increase productivity. But all they are doing is throwing money at the issue and pray it'll resolve itself. Reminds me of last time when PAP suddenly increased CPF contribution rates sharply, and caused a recession.
 

felixleong

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I actually very concerned about GST
for income tax a lot of people are not affected and don't really pay income tax

GST however affects everyone that consumes or spends, to pay less GST means we have to cut down on our spendings

nowadays I spending $500 a month nia, hope to keep it at this level hehehe

spend $500 = $50 go garmen, KNN CCB

can't imagine those that spend 3-5k a month, $300-500 a month go garmen happy happy
 

sandwicher

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I actually very concerned about GST
for income tax a lot of people are not affected and don't really pay income tax

GST however affects everyone that consumes or spends, to pay less GST means we have to cut down on our spendings

nowadays I spending $500 a month nia, hope to keep it at this level hehehe

spend $500 = $50 go garmen, KNN CCB

can't imagine those that spend 3-5k a month, $300-500 a month go garmen happy happy

Well, tax is the main source of revenue for MOST nations. If the govt don't tax you, where are they going to have the money for the infrastructure spending?

Look at the VAT in the western countries and you come back and compare to us again:s12:
 

felixleong

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Well, tax is the main source of revenue for MOST nations. If the govt don't tax you, where are they going to have the money for the infrastructure spending?

Look at the VAT in the western countries and you come back and compare to us again:s12:

ya but must see how they tax

our system here punishes the low/middle income class a lot but helps the rich a lot

coporate tax is very low at 17%
there is no tax on capital gains and dividends

these few points help the rich a lot

GST punishes the middle income class a lot, due to their spendings


what i said above is subjective la, no right no wrong

for me, i just try to play around or be smart with the system

when make $$, dun spend in on food, entertainment or girls.... cause the GST eats it up pretty fast

got $$ invest in stocks and bonds, $$ grow $$ no need pay tax on our investments ma, that's why rich ppl like to come sg park their $$ and retire~ hope can be like them some day haha
 

pcmdan

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ya but must see how they tax

our system here punishes the low/middle income class a lot but helps the rich a lot

coporate tax is very low at 17%
there is no tax on capital gains and dividends

these few points help the rich a lot

GST punishes the middle income class a lot, due to their spendings


what i said above is subjective la, no right no wrong

for me, i just try to play around or be smart with the system

when make $$, dun spend in on food, entertainment or girls.... cause the GST eats it up pretty fast

got $$ invest in stocks and bonds, $$ grow $$ no need pay tax on our investments ma, that's why rich ppl like to come sg park their $$ and retire~ hope can be like them some day haha

Investment gains are not taxable. But when you buy and sell still subj to GST haha

I agree GST punishes the poor and middle income more than the rich.

Middle and poor income spend entire of their salary on consumable product. Whereas Rich can afford to save half. On absolute amount it seems rich pay more. But %tage wise..poor and middle almost hit 100%
 

Perisher

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That's right, but the income tax for the rich is increasing, in fact 80% of income tax comes from the top 10% earners.

So low to middle earners pay more of their income % wise to GST.
High earners pays more of their income % wise to income tax.
And those who earn from investing pays almost nothing by buy and hold, collect dividends.
 

pcmdan

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That's right, but the income tax for the rich is increasing, in fact 80% of income tax comes from the top 10% earners.

So low to middle earners pay more of their income % wise to GST.
High earners pays more of their income % wise to income tax.
And those who earn from investing pays almost nothing by buy and hold, collect dividends.

anyone know where can I find the range to determine poor, middle, rich and super rich income range? haha
 

havetheveryfun

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Well, tax is the main source of revenue for MOST nations. If the govt don't tax you, where are they going to have the money for the infrastructure spending?

Look at the VAT in the western countries and you come back and compare to us again:s12:

well im sure fewer ppl would be complaining if the government was more transparent about where the taxed $$$ goes to ...

problem is a lot of people know that a lot of these taxed $$$ goes to the multi million salaries of the ministers and also big fat paychecks and bonuses for people working in the civil sector. that's what ppl are unhappy about - not about how much they are being taxed, but are the monies being used properly for the best of the country ?

e.g for the SG50 campaign, close to 1 million dollar is budgeted to be spent just for one district (hear from my friend working in civil service, may be true or not)
 
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