Fitvip Supersonic November 21, 2017 Share November 21, 2017 Philipkee reporting from downtown line.....SIR! Any sign of lightning? ↡ Advertisement Link to post Share on other sites More sharing options...
Philipkee Twincharged November 21, 2017 Share November 21, 2017 Any sign of lightning? Lighting got. Lightning no. :p I do have faith in our transport system still cos I still take it every now and then if going to town.... 1 Link to post Share on other sites More sharing options...
Fitvip Supersonic November 21, 2017 Share November 21, 2017 Lighting got. Lightning no. :p I do have faith in our transport system still cos I still take it every now and then if going to town.... Hahaha, good to hear that! The lightning will strike some where else... Link to post Share on other sites More sharing options...
Renegade777 5th Gear November 21, 2017 Share November 21, 2017 (edited) Up GST to 10% only increase car cost by $720 for a $20000 OMV car lor ......... No drama lor Thought GST does not tax on the OMV of a car. It taxes the overall selling price of the car but minus the regulatory charges such as ARF, COE, RF, Road Tax). Can easily cost a few thousand dollars. Edited November 21, 2017 by Renegade777 Link to post Share on other sites More sharing options...
Wt_know Supersonic November 21, 2017 Share November 21, 2017 (edited) few thousands here and there can become BILLION liao Edited November 21, 2017 by Wt_know Link to post Share on other sites More sharing options...
Apple-Tree 6th Gear November 21, 2017 Share November 21, 2017 (edited) Nope. It is actually a tax on top of tax. GST is calculated as 7% X (OMV + 20% Excise Duty). I think on the AD side, the margin also GST ?? Even when you buy a second hand car, it is 7% of Seller's Margin lor ....... that why second hand dealer don't show GST one, they always say "absorb" wor ....... more like absorb my wallet lor....... A point to note, when you buy new car, the total transaction cost is added into GDP and not a second hand car. Like that sell, our GDP always look so awesome.....lor Thought GST does not tax on the OMV of a car. It taxes the overall selling price of the car but minus the regulatory charges such as ARF, COE, RF, Road Tax). Can easily cost a few thousand dollars. Edited November 21, 2017 by Apple-Tree Link to post Share on other sites More sharing options...
Renegade777 5th Gear November 21, 2017 Share November 21, 2017 (edited) Nope. It is actually a tax on top of tax. GST is calculated as 7% X (OMV + 20% Excise Duty). I think on the AD side, the margin also GST ?? Even when you buy a second hand car, it is 7% of Seller's Margin lor ....... that why second hand dealer don't show GST one, they always say "absorb" wor ....... more like absorb my wallet lor....... A point to note, when you buy new car, the total transaction cost is added into GDP and not a second hand car. Like that sell, our GDP always look so awesome.....lor OK. I thot motor traders must charge GST on the selling price of the motor vehicle less regulatory fees (e.g. COE) for public. For sale of second-hand vehicles, you may use the Gross Margin Scheme (subject to the fulfillment of certain conditions) or the Discounted Sale Price Scheme to account for the GST. For traders selling to traders no need include GST. You may want to refer to para 7, Example 3 which says GST tax on what component for sale of cars to public and not traders https://www.iras.gov.sg/irashome/uploadedFiles/IRASHome/e-Tax_Guides/etaxguide_GST_Motor%20Vehicle.pdf Edited November 21, 2017 by Renegade777 Link to post Share on other sites More sharing options...
gandyman 1st Gear November 21, 2017 Share November 21, 2017 All mai kancheong...just sit and relax, the show will be tmrw amd your will see the showdown by 4pm...relax relax 2 Link to post Share on other sites More sharing options...
Apple-Tree 6th Gear November 21, 2017 Share November 21, 2017 B2B no GST ma ........ B2U GST. https://www.onemotoring.com.sg/content/onemotoring/en/lta_information_guidelines/buy_a_new_vehicle/car_cost.html Actually, there is no discrepancy on the calculation as it is normal for our garment to tax on tax component. For your GST it include dealer margin and tax GST again lor. If you look at your sale contract, no where GST is mentioned lor ....... I just seen my C&C PA ....... "No GST" at all ..... huat ah !! Actually, my understanding is when garment start GST, the motor car assoc or something requested for no show of GST as they will "absorb" to cover their profit margin lor ........ many years ago lor ...... Anyway, for a 20K OMV car ........ increase 1K ?? out of 100K lor ........ still no drama one ... But as one forumer point out, when garment say only ....... price spike lor Still the miserable VES lor ...... Did you know garment also GST your water conservation tax ?? I think so ...... normal. OK. I thot motor traders must charge GST on the selling price of the motor vehicle less regulatory fees (e.g. COE) for public. For sale of second-hand vehicles, you may use the Gross Margin Scheme (subject to the fulfillment of certain conditions) or the Discounted Sale Price Scheme to account for the GST. For traders selling to traders no need include GST. You may want to refer to para 7, Example 3 which says GST tax on what component for sale of cars to public and not traders https://www.iras.gov.sg/irashome/uploadedFiles/IRASHome/e-Tax_Guides/etaxguide_GST_Motor%20Vehicle.pdf Link to post Share on other sites More sharing options...
Takahiro 1st Gear November 21, 2017 Share November 21, 2017 Speaking about lightning? I thought we all vote for lightning every few years so what’s the news? Maybe can also implement tax in geylang so can relieve abit from drivers. $50+10%+7%. Anyway still hope new tax will not affect the masses ! Let me review my COE bet for tomorrow. Cat A: $44K +/-1k Cat B: $53K +/-1k. Wish everyone a great week ahead ! Taka Link to post Share on other sites More sharing options...
Apple-Tree 6th Gear November 21, 2017 Share November 21, 2017 Even ..... I bought the car already I still very excited to watch lor ....... like World Cup....... heeeee All mai kancheong...just sit and relax, the show will be tmrw amd your will see the showdown by 4pm...relax relax 1 Link to post Share on other sites More sharing options...
lazybums 1st Gear November 21, 2017 Share November 21, 2017 Cat A: +2K Cat B: -2k Today will be an interesting day to watch. Will it sky rocket today? 1 Link to post Share on other sites More sharing options...
Harry4D 2nd Gear November 22, 2017 Share November 22, 2017 CAT A: $48500 CAT B: $59400 Link to post Share on other sites More sharing options...
Edminski 2nd Gear November 22, 2017 Share November 22, 2017 No significant changes, lots of backlog to clear.... Chances to go up is high because some must die die get the COE by end of the year. Cat A: +1k Cat B: +1k. Link to post Share on other sites More sharing options...
gandyman 1st Gear November 22, 2017 Share November 22, 2017 Still not see any rush to bis COE at this time, all go lunch to get energy after that cheooong till to the max at 4pm :p Or perhaps this time COE 2$ - black friday deal before end of the year lolx Link to post Share on other sites More sharing options...
Elepoo 2nd Gear November 22, 2017 Share November 22, 2017 Wait till the last hour...UP, UP and away... Link to post Share on other sites More sharing options...
Shox87 4th Gear November 22, 2017 Share November 22, 2017 today bidding should be an interesting one. Link to post Share on other sites More sharing options...
kdash Supersonic November 22, 2017 Share November 22, 2017 all the best to all bidders today! huat ah! ↡ Advertisement Link to post Share on other sites More sharing options...
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