QUOTE(jayjay11 @ Oct 28 2013, 10:40 AM)
Any impact on our hobby if government implement GST?
What i can think of is that..
1. Less budget for hobby
2. Buying overseas cheaper compare to local stores (which already are for most cases)
Not much; GST is not equal to increasing tax by 6%; It only replaces current tax system. Current tax system, some items are being taxed twice, like sometimes when u import things, u get 10% tax on the item's value + 5% off shipping value. That is no longer the case in Apr 2015; only 1 single tax of 6%, as far as what i understand.
Another example: you go restaurant/hotel, then u get taxed 10% service charge + 6% gov tax. That is also no longer allowed. Only a single 6% tax. That means, you should expect to pay less for some items, but pay more for the others. For example, books and IT stuff are exempted from tax. They will remain exempted from tax, but, when sold from a shop, say, popular, they have to charge you a 6% tax, which means you still get taxed 6%. After all it's goods and
services tax - well, unless u buy online overseas yourself and import it. Popular will need to pay this money (tax) to gov as a source of revenue, it does not go into their profits.
The issue now with Malaysian traders. they are unwilling to charge customers less. So, for those in the services department who can charge 10% in the past but now no longer allowed, they might increase their pricing to offset the amount they can no longer tax you. Although this GST is supposed to be more systematic, i would say, it's not fair to poorer people (there are chances that books and essential items getting taxed 6%), but good news for me. Some things that are taxed twice including figures are now only taxed once.
6% is not much, but if you are planning to buy, say, a RM 18,000 Nikon D4, +6% = increase RM 1000. But im actually bothered by the fact IT & smartphones *might* end up getting taxed; im not sure myself, what i said is only from what i understand so far. Details for me are still scarce. Im quite a tech geek, and i will need HDDs a lot. Expanding to 10TB soon, thx to anime.