Thursday, May 1, 2025

These Singapore Election's GST arguments is irritating me

REALITY: Have you calculated how much GST you pay after deducting all the GST related rebates?

You can do the maths yourself:

If you make and spend all of your 40000 SGD/year (living 4 room), 9% GST = 3600 SGD paid in GST

Total GST rebate money: 2100 SGD given you back.

You effectively only paid 1500 SGD  of GST, around just 125 SGD/mth.


If you are old (65years old) and poorer, living in 3 room, spending 24000 SGD/year, 9% GST = 2160 SGD paid in GST

Total GST rebate money: 3950 SGD given back to you. 

You actually made a profit of 1760 SGD on GST


https://chatgpt.com/.../680f5960-dffc-8011-b6cc-d552041ced48


You have to understand how Singapore's GST system works. Its not just "take money" nia; basically the poorer singaporeans dont pay GST at all, in fact, money is taken from the rich and given to the poor. 

On top of that, if a person is a millionaire, spending 250k a year, he would have paid 22500 SGD in GST. the 2% increase is 5000 SGD of GST tax gained from 7% GST. 

Richer people spend collectively absolutely way more money than poorer Singaporeans combined. The richer, the more bigger the disparity and gap between the payments. 

Poorer earners like my mum, earning maybe around 1.4k a month at most, she is getting 4000 SGD back in GST related rebate, not counting the 4200 SGD for workfare income suppment. Which means she would be getting 8200 SGD. 


So, i urge you guys (Singapore voters) dont get confused by the Opposition talking points on GST. 

I personally have looked at this and did the maths years ago.... 


And these are based on older numbers. 2025 GST rebate amount will be higher

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