Tax on goods and services bought online

[Aaronlkl]

Ownself rate ownself.

 

As usual.

 

 

Urm, who rate PM performance? President? 

 

[Enye]

Ownself rate ownself.

 

As usual.

 

 

where got?

 

every 4 years or so, he takes an exam and scores A2 or B3

 

not bad liao

 

[DACH]

well said... so now i ask you ... if i am a capable alternative to replace your CEO... why in the world would i want to take a pay cut to be your CEO??

 

passion? answer the calling??

 

Thats why i say ... stop complaining abt the ministers' salary ....

Now in this case, you are the replacement for the old CEO. You are taking the pay of the previous CEO, no pay cut. You are given that chance and choice. No one force you to be the CEO.

But without actual realising what is the real value you have brought to the company for the past year, you have demanded double the pay because you think you are capable.

But when things go wrong again and again, you said you are not accountable, refuse to quit and rebutt your employer being ungrateful.

This mistake of getting overpaid but continue creating problems must be addressed by either replacing the CEO or cutting the pay. The cultural flaw of asking being overpaid against industry benchmarks but refusing accountability and responsibility must be curtailed within this generation of CEO and not spread to the next CEO.

If not, the subsequent CEOs will continue to double their salaries but the funds of the company are not used wisely in solving the problems of the company.

[kdash]

where got?

 

every 4 years or so, he takes an exam and scores A2 or B3

 

not bad liao

 

 

dont forget there's ranking and bell curve... 

[inlinesix]

I don't see the benefit for biz owners to register if they don't need. See post #53 for illustration.

Illustration:

 

GST registered Seller

Cost from Supplier - 100$ +7% gst

Margin - $30

Sale price - (100+30)*7%=130 dollars and $9.1 for GST

Profit Margin => 30%

 

Non-GST registered Seller

Cost from Supplier - 100$ +7% gst

Margin - $30

Sale price - 107+30 =$137

Profit Margin => 28%

 

[Vratenza]

Yeah... Not before making sure he sits just diagonally behind the smartest kid in class, have his parent get the most expensive advanced calculator allowable into the exam hall, eat and  drink gingko/chicken essence funded by the school alumni sinking fund, get the best tuition teacher in the market to teach him solely. 

 

where got?

 

every 4 years or so, he takes an exam and scores A2 or B3

 

not bad liao

 

 

[SuPerBoRed]

Now in this case, you are the replacement for the old CEO. You are taking the pay of the previous CEO, no pay cut. You are given that chance and choice. No one force you to be the CEO.

But without actual realising what is the real value you have brought to the company for the past year, you have demanded double the pay because you think you are capable.

But when things go wrong again and again, you said you are not accountable, refuse to quit and rebutt your employer being ungrateful.

This mistake of getting overpaid but continue creating problems must be addressed by either replacing the CEO or cutting the pay. The cultural flaw of asking being overpaid against industry benchmarks but refusing accountability and responsibility must be curtailed within this generation of CEO and not spread to the next CEO.

If not, the subsequent CEOs will continue to double their salaries but the funds of the company are not used wisely in solving the problems of the company.

 

wat you are talking about is hypothetical...  i just asked a simple question... if you are capable of running singapore ... why would be willing to take a pay cut to run the country? 

 

I phrase it this way... Lee Hsien Yang's pay >> Lee Hsien Loong... 

 

You guys want to talk about being in the fake ''meritocracy'' and privilege access to higher echelons etc... You think our minsters cannot ''ask to be'' the CEO of a some MnC? 

 

thats a pay jump when they get it FYG...  Desmond Quek > Lee Hsien Loong*** certain years  

 

So... whats the KPI of a country's government? I think top and foremost is bottomline... which the last i checked... we are still doing good as a country...  so what do they fail miserably at right now? the happiness of the general populace... public transport system...  

 

which in truth ... is just but a couple of ticks they did not check off

 

I will say again... should some of the ministers be criticized for non-performance? YES. 

but with correlation to the pay? No... 

 

For a simple reason... you cannot have someone who wants to run the country with passion... you need someone to run the country with capabilities befitting that scale... and that pool of people currently are mostly payed higher.

[Kusje]

Illustration:

 

GST registered Seller

Cost from Supplier - 100$ +7% gst

Margin - $30

Sale price - (100+30)*7%=130 dollars and $9.1 for GST

Profit Margin => 30%

 

Non-GST registered Seller

Cost from Supplier - 100$ +7% gst

Margin - $30

Sale price - 107+30 =$137

Profit Margin => 28%

 

Should the seller be more concerned about the profit margin or the actual amount of money going into his pocket? If you think profit margin is very important then how about this scenario:

 

GST registered Seller

Cost from Supplier - 100$ +7% gst

Margin - $30

Sale price - (100+30)*7%=130 dollars and $9.1 for GST

Profit Margin => 30%

 

Non-GST registered Seller

Cost from Supplier - 100$ +7% gst

Margin - $31

Sale price - 107+31 =$138

Profit Margin => 29%

 

I dunno about you but I would rather be the fellow making 31 bucks and still don't have to worry about GST reporting and claiming. My customers are also paying me less so I reckon they would be happier too.

Edited November 23, 2017 by Kusje

[Turboguy]

how much you paying this year for your hospital plan ? I am forking out $840 cash !!

 

cash top up if i remember correctly is $400- $500+

[DACH]

wat you are talking about is hypothetical... i just asked a simple question... if you are capable of running singapore ... why would be willing to take a pay cut to run the country?

 

I phrase it this way... Lee Hsien Yang's pay >> Lee Hsien Loong...

 

You guys want to talk about being in the fake ''meritocracy'' and privilege access to higher echelons etc... You think our minsters cannot ''ask to be'' the CEO of a some MnC?

 

thats a pay jump when they get it FYG... Desmond Quek > Lee Hsien Loong*** certain years

 

So... whats the KPI of a country's government? I think top and foremost is bottomline... which the last i checked... we are still doing good as a country... so what do they fail miserably at right now? the happiness of the general populace... public transport system...

 

which in truth ... is just but a couple of ticks they did not check off

 

I will say again... should some of the ministers be criticized for non-performance? YES.

but with correlation to the pay? No...

 

For a simple reason... you cannot have someone who wants to run the country with passion... you need someone to run the country with capabilities befitting that scale... and that pool of people currently are mostly payed higher.

When the first day one decides choose to be a politician over a CEO of a big corporation, then learn to accept the responsibilities and what is to be sacrificed as a role of a politician over a role of a CEO.

If the person thinks that he is underpaid as a politician, then by all means, leave politics and join the corporate world. His choices are not forced upon. No one holds a gun by his head to be a politician and no one would not deem unfit to be a CEO if he has no political background. If he can command the pay of a CEO, go ahead by all means.

I have said this earlier. The previous PM has already been paid more than a million which is considered the highest in the political world and it's by the taxpayers monies that should have been used to improve the country, not enriching a small group of people.

Did I say cut his salary based on this pay carried forward from the previous PM? What I'm saying is cutting the pay over the millions of salary that is added over this old pay structure, which these people has added on themselves without actually realising their real performance for even less than 5 years in their positions.

So now you are telling me, the current PM is comparing his own salaries to salaries of his brother CEO and CEO of the GLCs, etc. If he is really that red eyed about the salaries about these CEOs, then by all means, go and be a corporate CEO. Don't be in politics because you are red eyed comparing salaries of the people in the corporate world. There's never ending in this comparison. Now can keep up but then after that corporate CEO increase again by another 2-3 millions? How? Tax more people to play catch up?

The country may superficially running well mow, but deep in the culture, there are actually something wrong showing signs, and probably creeping up. Still want to keep quiet about it? It may not affect our generation, but is it guaranteed that the next generation won't?

If all the leaders are going to think like this for their salaries, the global rich poor gap will be wider than you can think.

Bill Gates salary is already USD 2.6 billion pa till date. Did Obama or Trump even ask for that kind of salaries as the President of USA? USA is running well, although times devastated by natural disasters, people are still working and living in this big economy. Do we have to add another billion to their salaries? Again, USA is curbing world terrorism, rogue nations like North Korea, Iraq, facing the challenges of other rising economies. Should we again add another bill to their salaries?

How about the China President? There are much more billionaires in the country for the past decades. And why he didn't pay himself that kind of salaries? And despite paying as a benchmark salaries of politicians, he goes further to curb corruption. Why didn't he pay everyone billions to stop corruption?

A very simple and logic is you are paid for what you are. If you choose the profession, then be professional enough to take that sacrifice. Salaries no matter what will increase, be it inflation, bench changes. If one wants to get paid out of the benchmark of the sector, by all means, join that sector that pays him well to what he think he should get.

There's never ending comparison with corporate pay because corporates work for profits, not politics.

[GLZT]

Usually small time business owners will not want to register gst. But once you wish to do sales to larger company, you might lose out to your competitors who are gst registered cause larger companies would prefer to claim gst. Unless your products/services are very niche that they no choice got to stick with you, if not it's better to register gst.

[Kusje]

Usually small time business owners will not want to register gst. But once you wish to do sales to larger company, you might lose out to your competitors who are gst registered cause larger companies would prefer to claim gst. Unless your products/services are very niche that they no choice got to stick with you, if not it's better to register gst.

 

You are right. It makes sense to register if your customers are also GST registered because they themselves can claim back the $$$.

 

If selling to end customers, not registering is best.

[Kusje]

Yeah... Not before making sure he sits just diagonally behind the smartest kid in class, have his parent get the most expensive advanced calculator allowable into the exam hall, eat and  drink gingko/chicken essence funded by the school alumni sinking fund, get the best tuition teacher in the market to teach him solely. 

 

What if the fellow's father also happens to be the principal? Teachers will definitely exercise independence when nominating him as best student in the school during any ranking exercise right? 

[350z]

GST is a zero sum game for businesses. Companies do not 'make' nor 'lose' money through GST claiming.

 

But purely by being GST registered allows better cashflow position & perhaps add some credibility to the Business ( Revenue > $1M).

 

Best is have 2 entities... keep it nimble :)

 

 

Usually small time business owners will not want to register gst. But once you wish to do sales to larger company, you might lose out to your competitors who are gst registered cause larger companies would prefer to claim gst. Unless your products/services are very niche that they no choice got to stick with you, if not it's better to register gst.