Monday, June 07, 2010

GST credits and then some

Last week, I received my letter to inform me that I will be given free money by the Singapore government.

This is the GST credits. Money given to citizen to help them with the 7% GST implemented. To those whom do not know the term "GST", here's a wikipedia entry on Singapore's GST.

Happy that I got free $$$? Not really. The amount given to each citizen is not based on their income. It is actually based on their age group and property type. Which I feel is a mistake. The spending power of each individual is based on how much salary they get and not what kind of house and age they are in. To really help citizens cope with the GST increase, the government should actually give out the monies based on each individual's income.

Since the GST is a tax on any products and services rendered, then the free monies should be based on how much products and services the citizen can spend on. And since this is directly proportionate to his or her income, shouldn't the free monies given be based on the individual income?

I know not of how to run a government, but I know how to run my personal finances. Where there is a output, I better make sure I have enough input. Because nothing is free and for every action, there is always an equal reaction.

If you haven't yet noticed, there is a separate article on Singapore increasing its fine on littering, getting tough on litterbugs. I'd assume that in a few weeks time, there'd be another article on how they will be increasing traffic fines.

Welcome to Singapore. 
For all things free and easy, they must always come from somewhere...
[ Most likely from ourselves anyway ]

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