GST 7%, included into property buying too?
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 Jul 8 2013, 10:14 AM
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QUOTE(swordfish911 @ May 20 2013, 11:12 AM) will this GST 7% is to be implement into property buying? if it does, would be like i need to pay 7% from the property price and etc? so that 5% discount for early birds becomes moot?     |
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Jul 8 2013, 12:27 PM
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#2
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QUOTE(public_mutual @ Jul 8 2013, 11:35 AM) GST is part of Malaysia ETP action plan to curb the ever rising national debts which has exceeded the threshold of 55% of country's annual GDP. It has to be done as many Malaysian are earning low to medium incomes that prevented the conventional "progressive tax" to work effectively, hence causing insufficient taxes to be collected to finances the entire government expenditure. Sigh....its really case state our country is in Malaysia has initiated ETP, which is driven by PEMANDU, headed by Dato' Sri Idris Jala, former CEO of MAS Airline, to overcome country worst nightmare, which is facing bankruptcy in a not too distant future. Malaysia has a approximately 28 million people and it is estimated that more than 40% of these population are below 25 years old, 5% are above 55 years old and nothing more than 4% is jobless. Majority of these people do not pay taxes. When the progressive tax failed miserably, Government turns to these people in the above mentioned categories for solutions. Despite living without "active" income in Malaysia, the only way the Government is able to make gain from these people is by introducing the "blanket tax", which is also known as GST. Besides introducing GST in Malaysia ETP, Government is also reducing subsidies periodically from the year 2010 till the end of 2014 to as to promotes savings. [attachmentid=3525202] By reducing subsidies to these goods and facitilities, it will also promotes the rise in good and services price tags. Good luck Malaysia!  "11% of the Gov's earnings come from 83% of household debt" BFM. I guess that isn't enough  I'm not surprised Malaysia is facing virtual bankruptcy from the way certain people spend, I hear our 1Malaysia Tank is even more expensive than the M1 Abrams  IINM countries that implement GST also provide financial and healthcare safety nets like in UK, else we'll end up like Thailand with their VAT then the lower denominators will suffer an endless cycle or hardcore poor.  Idris Jala? The guy that ran MAS into the ground?  So now CEO's that bankrupt companies are promoted to bankrupt the country? While the better governments will find ways to earn more money by getting it from foreigners/foreign countries ours seems to only know how to get from their own people. Its like a drunkard abusive father whom doesn't want to work but milks money by forcing his wife and daughters to be prostitutes and collect their earnings.  |
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