Showing posts with label Income tax. Show all posts
Showing posts with label Income tax. Show all posts

Tuesday, 22 November 2022

Singaporeans are enjoying the best in the world while paying low taxes



And this is so true. Our income taxes are among the lowest in the world and yet, we are enjoying - easily - the best in the world.


We don't have to worry about water.

Primary and secondary education is free because each child gets an annual edusave amount that can be used to pay for miscellaneous fees.

People who have gone through the public healthcare system know that it is highly subsidised and affordable.

Our publics transport is among the top in the world with fares among the lowest in developed countries. By 2030, everyone lives within 10-min of an MRT station.

Our CPF fund is among the top pension funds in the world and Singaporeans now recognise how great it is as they voluntarily top up their CPF accounts.

Our public housing is like no other in the world because the government took it upon themselves to upgrade our flats 2 times (at 30th and 60th year) to keep them in liveable conditions.

Half of working Singaporeans enjoy all this and more without paying any income tax. 80% of the other half enjoy all of this paying less than 4% income tax.

Paying among the lowest income tax in the world to enjoy (among) the best in the world. 

Monday, 21 November 2022

How much does Singaporeans pay in personal income tax?



I am not a lawyer but I speak from facts, so I stand on solid ground.


Half of Singaporean workers do not even pay any income tax. Of the other half, 80% of them pay an effective tax rate of less than 4%.

How is that remotely close to 'beggaring the taxpayers'?

What is being (deliberately?) ignored by all who oppose the GSTis the fact of the Permanent Enhanced GST Voucher Scheme which reduces the effective GST rate for the bottom 30% of households to less than 3%.

This is a permanent scheme that costs at least $1 billion annually.

Some people ask: where did surplus go? Some of it goes to top up the GST Voucher Scheme to give back to Singaporeans.

The GST Voucher Scheme makes GST a multi-tiered system based on income. It ensures that those who pay less are truly those who have less.

The PAP has the political courage to do what is unpopular in order to ensure that social programmes are sustainable.

Endemic income equality problems?

The Government is taking a holistic, multi-ministry, multi-agency approach to help uplift families and children from the vulnerable groups.

This approach is taken because the problems faced by these families are complex. Complex problems do not have a simple solution. This approach is also resource-intensive but produces better outcomes.

How about we match our concern not with words but with actions? The GST hike will make resources available to help vulnerable people and narrow income gap.

Assurance Package.

The cry is: Delay the GST hike because there is inflation.

The Assurance Package does that. It delays it by 5 years for majority of people.

Now you've got your wish and you call it some kind of gimmick on an election basis? Come on lah.

By the way, the Assurance Package was announced during the previous term of government, not during this term.

This lawyer asked for his comment to be shot down. His wish is granted.