hard to implement because banks don't know how many cards you have with other banks
so this system would require that you pay the government directly, with the banks reporting to the government how many cards each person own, tracked by IC maybe ?
But it'll be really hard to make people pay
or if it's 1st CC per bank is free, then it defeats the purpose

I don't agree with this tax but I don't think it is burdensome either, just cancel your cards en masse like what I'm doing now. If you don't spend a lot then not using CC is also an option, just stick to debit cards

Because the more banks you have cards with, the higher your credit limit ?
Why limit yourself at 2 cards with 300k each when you can have 10 cards with 300k each ?
The credit limit offered to you by each bank is independent of the credit limit offered to you by other banks, if you have little to no outstanding balance
Also each card has different caps on cash back and different modes of cashback , for example card A provides 5% cashback on petrol, but only on weekends , limited to RM50 / month . Card B provide 5% cashback on petrol everyday , limited to RM50/month, then you pump using card B on weekdays and card A on weekends, to make sure that neither card will reach the limit
same thing with groceries. Once the cash back cap on this card runs out, use the next card

This post has been edited by jfleong: Aug 11 2018, 06:20 PM

sst 1.0

i think they do share certain level of data, like if you have bad credit history with any banks, the rest of the banks knows too.

omfg, hv to make a plan which cc to cancel. F this SST

That is CCRIS, regulated by BNM.
Only for bad credit and current financial obligation (others loans, and monthly payment) not for info like how many cards you have, what is the credit limit on each card etc

This post has been edited by jfleong: Aug 11 2018, 06:48 PM

so its not difficult to share other info too, since all they need is amount of cc for each person maybe plus the credit limit, and they dont need to update all these info everyday.

Privacy issues. I have serious concerns about the idea that banks can tell each other info about you like how many CC you have with them. Then maybe another bank will use this for marketing purposes and convince you to Balance Transfer to them. Under the current system other banks don't know anything unless you have defaulted

nope, not telling to each other banks, but to the gov ? since gov is the person who want to tax.

1 card for petrol
1 card for grocery
1 card for travel
1 card for cash back
1 card for CBTL
1 card for movies
1 card for online shopping
Different cards for dining discout

Etc etc

Maximize card benefits

Why?

but it's the banks who are collecting it on behalf of the government right ? Or do you propose that we pays straight to the government ? People might just ignore it ?

Banks tell gomen , then cardholders pay to gomen >> many might dodge
Banks tell gomen, gomen compile data, then gomen tells banks how much to collect >> too complicated and time consuming . Which card is considered "first" and when happens when the card you consider "first" is cancelled ? Bank tell gomen you cancelled that card and then gomen tells the next bank to not collect from you ? How long will this take ?
Banks tell other banks >> privacy issues

Why the government is not going to tax the rich more?

For those able to buy any cars with RM150K and above should pay more taxes. Should have added another 10% to it.

Also the road tax renewal, it should go by horse power... the large torch/horse power, the road tax should be higher..
A person brought a BMW 1.4 turbo at eg RM250K only pay a road tax less than it should be. Where as a person who is driving eg. Honda City with 1.5 pay the same amount of road tax. So this not right.

There are many more areas that the rich should contribute more. If you can afford to buy diamond right.. tax more, any housing 1 million and above tax more, any luxury item should pay more tax..

Come and go, still trying to tax the rakyat who are already struggling in daily living..

SST will highly possible bringing up the price of many goods again.. seems like some big corporation already announce that price will go up coming .. from the street... let's see and track the item you purchase.. and those working in companies, check your purchases, renewal and etc...

If the government want to revert to old SST, it should have no price increase from manufacturing down to the consumer level for a period of 1-2 years to stabilized the goods price and promote control environment better cost living. There is no law in place. I am not sure the how the new government want to control that. What is the enforcement going to be to ensure proper implementation and rakyet don't suffer?

Majority of the rakyat already suffer for past 10 years with cost of living sky rocket up... another implementation... another price adjustment?? up or down?? rakyat will be judging once in take place...

I hope the government will not give any excuses saying they cannot control this or that and giving nonsense and not keep to the promises they made.

We vote so hard for the change and also to lessen the burden of the people of the country, not to increase the cost of living more and more...

Irrelevant in this topic for sst credit card ...this has nothing to do with rich or poor, consumers choice to hold as many cards they like

Will still be charged upon renewal.

Be fair abit la. The rich u tot really owe to poor ppl like us meh. The rich already got taxed higher at income tax rate no brim and those expensive car is already at almost 100% tax rate. U still want to add on 10%?? Unless their tax rate is same as us, then I agree with u.

but i only have 1 bank credit card and my limit is.... oh wai, me poorfag nia

That was true for gst ...gov just wants ur money regardless wat the bank charge for sst

Sorry, most of us are not rich here, unless you are rich and owing luxury items. All of us have couple of credit card for the convenient used for cashback, points for gift redemption and etc. And many are good pay master, having these cards really help.

What I am saying is a general opinion only. Generally more education is required for consumer how to be prudent in spend.

The new government should tax those rich who are able to buy eg > RM150K car in their road tax or extra car taxes.

Taxing RM25 will only hurt the banking sectors most, people will start to cut their cards, reduce spending.
It will also hurt the share market as the banking sectors profit will reduce and share value will go down.

Overall the losers are all the consumer and banking sector and those shareholder of the stock market.

Still no confirmation? Need to wait until Sept 1st?