RED.ADEN

Example 1

In 2006, if after rebates etc and your net taxable income is
$60,000, the income tax you need to pay is $2,700 (8.75%). If you
spend $800 a month on needed goods and services, the GST paid for 5%
will be $480 Total=$3,180 in Tax paid.

In 2007, if after rebates etc and your net taxable income is
$60,000, the income tax you need to pay is $2,600 (8.50%). If you
spend $800 a month on needed goods and services, the GST paid for 7%
will be $672 Total=$3,272 in Tax paid.


From $3,180 to $3,272, the effective increase is 2.89%.


Example 2

In 2006, if after rebates etc and your net taxable income is
$400,000, the income tax you need to pay is $61,650 (21%). If you
spend $4,000 a month on needed goods and services, the GST paid for
5% will be $2,400 Total=$64,050 in Tax paid.

In 2007, if after rebates etc and your net taxable income is
$400,000, the income tax you need to pay is $58,700 (20%). If you
spend $4,000 a month on needed goods and services, the GST paid for
7% will be $3,360 Total=$62,060 in Tax paid.


From $64,050 to $62,060, the effective decrease is -3.11%.



Example 3

In 2006, if after rebates etc and your net taxable income is
$25,000, the income tax you need to pay is $187.50 (3.75%). If you
spend $800 a month on needed goods and services, the GST paid for 5%
will be $480 Total=$667.50 in Tax paid.

In 2007, if after rebates etc and your net taxable income is
$25,000, the income tax you need to pay is $175 (3.5%). If you spend
$800 a month on needed goods and services, the GST paid for 7% will
be $672 Total=$847 in Tax paid.


From $667.50 to $847, the effective increase is 26.89%.


The fact is: The poorer you are the more the GST is going to make
you poorer

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loonshi

ya wor... wow piangz now then i know..thks for the analysis.,. i guess the government alreadi calculated liao that's y got rebates de mah :p

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RED.ADEN

i hate singapore's goverment more and more.

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Chriz

I think someone has posted a similar thread before le.

But thanks for sharing anyway. ^^

finaldust

i didnt calculate before so i dont know thank for ur facts haha

to fall in love is always easy
to start a relationship is always simple
to build it, is always tough
to maintain it, is 'better said than done'
to break off, is 'easier said than done'
to remain friends after u broke off, is never possible
to forget the memories is 'always doing but never succeeding'
to heal the pain within is hard and tough and never near simple
but one has to try to heal your own heart...

RED.ADEN

huh? someone posted before?

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