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 GST 7%, included into property buying too?

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SUStikaram
post May 20 2013, 02:11 PM

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aiya.

i already answer this one la.


QUOTE(HiT-AbLe @ May 20 2013, 10:47 AM)
Do we have to pay GST for buying property in case barang naik implements GST?
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indirectly already included on the developer materials price.

SUStikaram
post May 21 2013, 08:21 PM

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QUOTE(whitesabre @ May 21 2013, 05:36 PM)
Yup to pass an bills/laws, simple majority will do. So, GST actually has already passed. However, they needed to wait until after GE 13. Implementing it before GE 13 spells doom for BN. Only those stupid will vote for BN.

On another note, the opposition can still challenge the law in court. They can bring it up to the high count upto federal court. Having said so, imagine the impossibility of the fed court supporting the oppositions. To all, spend less on anything. GST is totally different from SST. GST is imposed on ALL LAYERS of goods and services, while SST is imposed on sales point. Once GST implemented, petrol will increase, then transportation will increase. Once it comes to consumers, it's no more 7*, but 7% on increasing balance on every layer.

Say a fisherman catches fish. He needs petrol, which has 7% on it. He catches and sells to middle man, charges anoda 7% on, say RM100*7%. Then comes to market, sells to those market fish sellers, anoda 7% gone. Don't forget about petrol to transport. Then they transport to fish market, another 7%. Lastly to us, ANOTHER 7%. If u do the maths, it's more than 6x of 7%. Haha
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Jagan main main la friend.

Why people wanted to buy at market 6x? If can buy a cheaper one at pasar tani? 1x
SUStikaram
post May 21 2013, 08:52 PM

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QUOTE(The Jedi @ May 21 2013, 09:48 PM)
petroleum fuels shld be standard rate and not zero rated.
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I audited kmn act b4 i think gas. petrol is already in bahan api tax rate. so should be zero.
SUStikaram
post May 21 2013, 09:01 PM

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QUOTE(Hello_kitty 89 @ May 21 2013, 09:46 AM)
In the end, ppl that chosen to wait to buy property ended up to lost even more. Malaysia oh Malaysia
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Our mia or Malaysia institute of taxation really take boleh pakai. they should come out and explain gst to public. but so far no one articler.

See we have people like kitty take advantages.

Developer only indirectly bill Gst on uncontrollable building materials. how many times need accountant like me to tell u?
SUStikaram
post May 21 2013, 09:32 PM

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QUOTE(The Jedi @ May 21 2013, 10:08 PM)
You may refer to excise duty which is currently suspended as it is in subsidy mode due to high crude prices. GST is a different tax regime that is multi stage in the production and supply chain.
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Althoug. i retired already. but i am jv bahan api buz now. so i think i am right.
SUStikaram
post May 21 2013, 10:42 PM

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[quote=The Jedi,May 21 2013, 11:25 PM]
You may mixed up excise sales tax and GST...time will tell and confirm if fuels for local use is standard rate or zero rated.
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Agree time will tell.

If standard rate apply how will industry claim back from it output? Remember own consumption apply as well.

Deduct own use is one way. but it will be messy.

That also why i say it will be zero.
SUStikaram
post May 21 2013, 10:45 PM

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QUOTE(The Jedi @ May 21 2013, 11:35 PM)
Existing sales tax(10%) and service tax(6%) will be discontinued when GST is introduced. So sales tax for cars will be gone and replaced by GST of lower rate. So car price shld be lower in GST environment.
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Don't forget other tax like carbon tax could be added.

 

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