Woo-hoo! Income Tax goring up again!!

[Boliao]

For YA2012 onwards (which is what we will pay this year)... congratulations to those earning $80-$120. Lower tax! Everyone else is screwed!

• Those earning $20-$30k will increase by 1.5%
• Those earning $30-$40k will increase by 2.0%
• Those earning $40-$80k will increase by 1.5%
• Those earning $120-$160k will increase by 1.5%

Two new tiers added

• New Tier: Those earning $80-$120k will pay 11.5% (instead of 14%)
• New Tier: Those earning $200-$320k will pay 18% (instead of 17%)

 

[imagery]

It would probably end up as a net gain for the IRS.

 

[kongsimi]

anyone who earns less than fifthy thousands per year should be exempted from tax.

one coe already cost two years of his salaries.

where he got money to eat and rent pigeon holes?

millionaires should be tax 50%. that will be fairer cause it helps to lower the income divide.

this is helpful because one group should not look down on another with lower earning power.

with the monies collected. the govt. can still maintain its spending programs.

govt. should go for at least one retrenchmnt exercise. to get rid of redundant dept. like the money wasting isd and sib.

resources should be directed to polis and catch real crooks instead of imaginary enemy like terrorists.

 

[RogerK]

Those in the $30 to $40k bracket are the hardest hit with a 2% up in their tax payable.

Why lower the tax bracket of those earning $80 to $120k from 14% to 11.5% - a drop of 2.5%?

Really does not make sense.

 

[Protein]

Lower tax! Everyone else is screwed!

Two new tiers added

• New Tier: Those earning $80-$120k will pay 11.5% (instead of 14%)
• New Tier: Those earning $200-$320k will pay 18% (instead of 17%)

Why the sudden increase to tax the poor!!! CCB!!!

 

[Prophet]

one coe already cost two years of his salaries.

where he got money to eat and rent pigeon holes?

maybe the CCB lang LHL exempted la. he can then keep his gotten gain too.

 

[Kuailan]

If you earn $3 million and above its tax free!

However low wage earner will be heavily taxed! from $20K upward that 's papaya policy!

 

[RogerK]

If you earn $3 million and above its tax free!

35% jiak liau bee president really jiak liau bee.

 

[babuSingh]

Knn....income tax increase 1.5% all kbkp....
1.5% for $1000 per year income tax is how much? Only $15? The most give you $50
COE so fucking high still got people buy car....you are killing yourself.

 

[Dinosaur]

For YA2012 onwards (which is what we will pay this year)

X'cuse me, shouldn't it be YA2013?

 

[SadPlumpGal]

Those who keep small threes shall be taxed 99%, otherwise the small three will consume everything anyway

 

[laksaboy]

There goes the 'let's keep direct taxation low to keep the capitalists happy' talk.

 

[oioi]

introduce capital gains tax! That would solve alot issues. I just do not know why not.

 

[RogerK]

Those who keep small threes shall be taxed 99%, otherwise the small three will consume everything anyway

Then some muslims will kana taxed at 99% even though they are legally allowed to have more than one wife. They should be given tax allowance instead for upkeeping and maintenance.

 

[ginfreely]

income tax goes up, property tax goes up, COE goes up, so easy to be govt in SG, just keep taking from people.

 

[RogerK]

Walau, 500 character very hard to post leh... this is part 2 why cannot tax those with small three:

Keeping mistress / small three actually encouraged consumption which is good for the economy and hence pinkie and his cronies will have higher bonus at end of the year due to increased GDP arising from the increased spending.

 

[RogerK]

introduce capital gains tax! That would solve alot issues. I just do not know why not.

Salah bro, should bring back Estate Duty tax and backdate it to when it was recently abolished. If implemented, the state will really FATT FATT big time.

 

[zhihau]

For YA2012 onwards (which is what we will pay this year)... congratulations to those earning $80-$120. Lower tax! Everyone else is screwed!

• Those earning $20-$30k will increase by 1.5%
• Those earning $30-$40k will increase by 2.0%
• Those earning $40-$80k will increase by 1.5%
• Those earning $120-$160k will increase by 1.5%

Two new tiers added

• New Tier: Those earning $80-$120k will pay 11.5% (instead of 14%)
• New Tier: Those earning $200-$320k will pay 18% (instead of 17%)

squeezing the balls of those in the 30-40K bracket, interesting...

 

[watchman8]

squeezing the balls of those in the 30-40K bracket, interesting...

Targeted at the hawkers and taxi drivers who under declare income.

 

[Fook Seng]

For YA2012 onwards (which is what we will pay this year)... congratulations to those earning $80-$120. Lower tax! Everyone else is screwed!

It does not work that way. These are marginal tax brackets. Even for those earning $80 to $120k, they are also screwed as they have to pay the various tax increases for income below $80k. Don't know whether the reduction in tax for income above $80k will be able to offset that. My feeling is that all will be screwed.