lai liao. pap will soon tax lower income more to protect the rich elites

[disconsolate]

https://www.businesstimes.com.sg/op...ime-singapore-relook-personal-income-tax-free

After 20 years, it could be time for Singapore to relook personal income tax-free threshold​

Sharon See​

Published Thu, Feb 01, 2024 · 5:00 am

Tax experts: After 20 years, it could be time for Singapore to relook personal income tax-free threshold​

FOR the last 20 years, Singapore tax residents have not needed to pay tax on the first S$20,000 of chargeable annual income.

With wages having risen considerably over that same period, not least due to inflation, perhaps this threshold should be raised too – so that a higher income level is tax-free.

Doing so would ensure that the tax burden remains appropriate for low-income earners, tax experts told The Business Times.

“With a significant surge in living costs in Singapore over the past few years, it looks appropriate for the tax-free threshold to be revised accordingly,” said Panneer Selvam, EY Asean people advisory services tax leader.

 

[k1976]

More help for the poor coming

 

[k1976]

Many many wet wet underwear

 

[50000]

GE2024 gimmicks...

 

[True Believer]

If the MIWs tax the wealthy even more, they will lose the incentive to work harder for longer hours, and even take their massive wealth and investments out of SG.

 

[Hypocrite-The]

Actually the income threshold needs to reviewed often to take into account inflation..

Tax free threshold of 20k is really too low...which means a person on 2k a month has hit the threshold...and 2k a month how to survive?

 

[k1976]

If the MIWs tax the wealthy even more, they will lose the incentive to work harder for longer hours, and even take their massive wealth and investments out of SG.

Yeah, wealthy people work harder and smarter than normal people, they also create many many good paying jobs de woh

 

[True Believer]

Yeah, wealthy people work harder and smarter than normal people, they also create many many good paying jobs de woh

So it makes sense that our Govt does not want to tax the wealthy too heavily or they will pack their bags and leave SG.

 

[myfoot123]

Who is this "tax expert"? No name no picture. PAP test balloon again?