Thaiyotakamli Supersonic September 8, 2013 Share September 8, 2013 (edited) http://www.plushasia.com/media_photo/23275 Singapore's million-dollar club grows Singapore - More people made it to the millionaires club last year, with 4,220 taxpayers having assessable income of more than $1 million each. Their combined income came to $8.06 billion, according to the annual report of the Inland Revenue Authority of Singapore (Iras) released on Thursday. They forked out $1.49 billion in income tax. In 2011, in comparison, there were 3,870 people in this group and they earned $7.45 billion. These could be Singaporeans, permanent residents or foreigners. A further 12,921 people earned between $500,000 and $1 million each last year, up from 11,092 people in 2011. Iras collected 7.6 per cent more cash in its latest financial year, as the economy grew moderately and the buoyant property market yielded more in stamp duty collection. Total taxes collected came to $41.4 billion for the 12 months to March 31, up from $38.4 billion in the year before, said The money made up 74.1 per cent of all operating revenue for the Government. The remainder was collected by other agencies for other types of payments - such as certificates of entitlement and Electronic Road Pricing. Iras' collections include corporate taxes, individual income taxes, goods and services tax (GST), stamp duties, property tax and betting taxes. For the financial year, corporate income tax grew 5.8 per cent to $12.8 billion, owing to improved company profits. Individual income tax collection grew by 12.2 per cent to $7.7 billion, due to higher salaries and the cessation of one-off personal income tax rebates given earlier for income earned in 2011. GST collection rose by 4 per cent to $9 billion, in line with the moderate growth in private consumption expenditure. Stamp duty collections jumped 35.7 per cent to $4.3 billion. The rise was due to the introduction of the additional buyer's stamp duty in December 2011 - intended to cool the property market - and more property transactions. Property tax collection fell by 3.1 per cent to $3.8 billion, due to an earlier change in some policies that affected the timing of collection of the taxes. The changes had led to more collections in the previous financial year - April 2011 to March last year. Taxes from betting activities dipped by 2.9 per cent to $2.3 billion. This included duties on Singapore Pools bets like 4D, Toto, Big Sweep and sports betting, and levies on the casino operations of the two integrated resorts. Iras also highlighted its high level of tax compliance - essentially, that almost all parties pay their taxes on time. Tax arrears declined to a record low of 0.79 per cent, among the lowest in the world. "Our ongoing efforts to promote a high level of voluntary compliance have resulted in more individuals and businesses filing their tax returns and paying taxes on time," said Dr Tan Kim Siew, Commissioner of Inland Revenue. "On-time filing rates have improved across all tax types." One of the taxpayers who name himself Throttle says "yes this year is a good year, many tables to be cleaned, my income shoot high high." Throttle who reported his annual income for more than has one million singapore dollar has decided to give himself a holiday break to London, UK. Edited September 8, 2013 by Thaiyotakamli ↡ Advertisement Link to post Share on other sites More sharing options...
Thaiyotakamli Supersonic September 8, 2013 Author Share September 8, 2013 (edited) Throttle, Daywalker, Porker, Radx, Viceroy, Yattokame, Yeshe....... You all gotta admit u all among the 4220 tax payers Edited September 8, 2013 by Thaiyotakamli Link to post Share on other sites More sharing options...
Hydrocarbon Turbocharged September 8, 2013 Share September 8, 2013 Throttle, Daywalker, Porker, Radx, Viceroy, Yattokame, Yeshe....... You all gotta admit u all among the 4220 tax payers +Thaiyotakamli also.. I'm looking for a chauffeur job, will drive and clean your cars good good. No pay also can, as long as got food and lodging. Haha.. And, please, have nicer cars.. [laugh] Link to post Share on other sites More sharing options...
Thaiyotakamli Supersonic September 8, 2013 Author Share September 8, 2013 +Thaiyotakamli also.. I'm looking for a chauffeur job, will drive and clean your cars good good. No pay also can, as long as got food and lodging. Haha.. And, please, have nicer cars.. [laugh] haha even my whole family combined still little, my FT family all either cleaning the road or build HDBs, where got earn so good?? one million rupiah maybe Link to post Share on other sites More sharing options...
Pisces69 6th Gear September 8, 2013 Share September 8, 2013 Why everybody earning more n getting richer n I getting poorer. Link to post Share on other sites More sharing options...
Thaiyotakamli Supersonic September 8, 2013 Author Share September 8, 2013 Why everybody earning more n getting richer n I getting poorer. Maybe we should move out sg liao, getting ex here Link to post Share on other sites More sharing options...
Hamburger Hypersonic September 8, 2013 Share September 8, 2013 being content and living a fruitful life is more worthwhile than being rich... Link to post Share on other sites More sharing options...
Porker Turbocharged September 8, 2013 Share September 8, 2013 (edited) Throttle, Daywalker, Porker, Radx, Viceroy, Yattokame, Yeshe....... You all gotta admit u all among the 4220 tax payers Please do not include me. I'm just a regular joe. BTW this thread opens up the floodgates to haolians and wannabes Edited September 8, 2013 by Porker 1 Link to post Share on other sites More sharing options...
Pisces69 6th Gear September 9, 2013 Share September 9, 2013 Maybe we should move out sg liao, getting ex here Ya I planning to move to Johor leh. Link to post Share on other sites More sharing options...
Watwheels Supersonic September 9, 2013 Share September 9, 2013 (edited) Actually how many of these numbers are senior ppl who are working in gahment related "private" sectors, eg. temasek holdings, public transport, ST, NOL, all those listed companies. Ultimate richy rich is still our gahment. Edited September 9, 2013 by Watwheels Link to post Share on other sites More sharing options...
Thaiyotakamli Supersonic September 9, 2013 Author Share September 9, 2013 Actually how many of these numbers are senior ppl who are working in gahment related "private" sectors, eg. temasek holdings, public transport, ST, NOL, all those listed companies. Ultimate richy rich is still our gahment. Rich of the rich gotta be our gahmen Link to post Share on other sites More sharing options...
Hydrocarbon Turbocharged September 9, 2013 Share September 9, 2013 haha even my whole family combined still little, my FT family all either cleaning the road or build HDBs, where got earn so good?? one million rupiah maybe Usually the humble ones are those who are smart, got cash no flash. Link to post Share on other sites More sharing options...
Maseratigood 5th Gear September 9, 2013 Share September 9, 2013 Why everybody earning more n getting richer n I getting poorer. You maybe not very cash rich, but definitely assets rich ...... Just look at the ASSETS of your XMMs surrounding you at your calls, and I don't mean fiscal assets hor... Link to post Share on other sites More sharing options...
Maseratigood 5th Gear September 9, 2013 Share September 9, 2013 (edited) Rich of the rich gotta be our gahmen How can you be wrong!!! But they sacrifice a lot to earn their $$$$$, you think easy, izit?? Edited September 9, 2013 by Maseratigood Link to post Share on other sites More sharing options...
Maseratigood 5th Gear September 9, 2013 Share September 9, 2013 Maybe we should move out sg liao, getting ex here Batam?? No need go thru jams at 2nd link, woodlands.... Link to post Share on other sites More sharing options...
Maseratigood 5th Gear September 9, 2013 Share September 9, 2013 Chey.... I thought you recommending to us a deodorant spray to make us smell LICH..... chey... http://www.plushasia.com/media_photo/23275 Singapore's million-dollar club grows Singapore - More people made it to the millionaires club last year, with 4,220 taxpayers having assessable income of more than $1 million each. Their combined income came to $8.06 billion, according to the annual report of the Inland Revenue Authority of Singapore (Iras) released on Thursday. They forked out $1.49 billion in income tax. In 2011, in comparison, there were 3,870 people in this group and they earned $7.45 billion. These could be Singaporeans, permanent residents or foreigners. A further 12,921 people earned between $500,000 and $1 million each last year, up from 11,092 people in 2011. Iras collected 7.6 per cent more cash in its latest financial year, as the economy grew moderately and the buoyant property market yielded more in stamp duty collection. Total taxes collected came to $41.4 billion for the 12 months to March 31, up from $38.4 billion in the year before, said The money made up 74.1 per cent of all operating revenue for the Government. The remainder was collected by other agencies for other types of payments - such as certificates of entitlement and Electronic Road Pricing. Iras' collections include corporate taxes, individual income taxes, goods and services tax (GST), stamp duties, property tax and betting taxes. For the financial year, corporate income tax grew 5.8 per cent to $12.8 billion, owing to improved company profits. Individual income tax collection grew by 12.2 per cent to $7.7 billion, due to higher salaries and the cessation of one-off personal income tax rebates given earlier for income earned in 2011. GST collection rose by 4 per cent to $9 billion, in line with the moderate growth in private consumption expenditure. Stamp duty collections jumped 35.7 per cent to $4.3 billion. The rise was due to the introduction of the additional buyer's stamp duty in December 2011 - intended to cool the property market - and more property transactions. Property tax collection fell by 3.1 per cent to $3.8 billion, due to an earlier change in some policies that affected the timing of collection of the taxes. The changes had led to more collections in the previous financial year - April 2011 to March last year. Taxes from betting activities dipped by 2.9 per cent to $2.3 billion. This included duties on Singapore Pools bets like 4D, Toto, Big Sweep and sports betting, and levies on the casino operations of the two integrated resorts. Iras also highlighted its high level of tax compliance - essentially, that almost all parties pay their taxes on time. Tax arrears declined to a record low of 0.79 per cent, among the lowest in the world. "Our ongoing efforts to promote a high level of voluntary compliance have resulted in more individuals and businesses filing their tax returns and paying taxes on time," said Dr Tan Kim Siew, Commissioner of Inland Revenue. "On-time filing rates have improved across all tax types." One of the taxpayers who name himself Throttle says "yes this year is a good year, many tables to be cleaned, my income shoot high high." Throttle who reported his annual income for more than has one million singapore dollar has decided to give himself a holiday break to London, UK. Link to post Share on other sites More sharing options...
Viceroymenthol 6th Gear September 9, 2013 Share September 9, 2013 Usually the humble ones are those who are smart, got cash no flash. That's when they are in indonesia lah. Dress and drive humble in indonesia. But when onboard the plane to Singapore, start putting on all the bling bling liao Touch down changi airport, walk out of arrival gate dazzling from head to toe. That's the rich and humble Indonesian for you! Link to post Share on other sites More sharing options...
Rncw 5th Gear September 9, 2013 Share September 9, 2013 i got to admit i am the poorest.....today 3millions toto...hope i HUAT AH!!!!! ↡ Advertisement Link to post Share on other sites More sharing options...
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