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 Capital Gains Tax a possibility from 2024

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acbc
post Feb 24 2023, 06:18 PM

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QUOTE(BL98 @ Feb 24 2023, 06:10 PM)
Why not GST now, everyone pay tax.
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Too many poor people with large families.
acbc
post Feb 24 2023, 06:26 PM

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QUOTE(xander2k8 @ Feb 24 2023, 06:22 PM)
You both failed 🤦‍♀️ GST doesn’t apply to essential goods hence poor families are not affected in the 1st place 🤦‍♀️

SST is even worse because it is wholesale tax while GST progressive consumption tax
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Hello. They consume more la.

Imagine Milo. Rich and poor also buy.

The difference is the Milo lasted longer for the rich fella with smaller families compared to the poor fella with large families.

And essential or not, prices will go up because of added cost to do business like transportation, office expenses and etc.

If a Milo 1kg is 25 bucks, don't tell me it will remain 25 bucks after GST. As per last time, the price actually went up by 2-3 bucks.

And rich fella probably buy every 2-3 months compared to the poor fella every 2-3 weeks. So, who consume more?
acbc
post Feb 24 2023, 06:31 PM

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QUOTE(xander2k8 @ Feb 24 2023, 06:29 PM)
Why use Milo when there are better alternatives 🤦‍♀️

The prices went up not because of GST but business take advantages for price increase 🤦‍♀️ cost is the still same but businesses take advantage 🤦‍♀️

The less consumption and demand for it will make it cheaper but to the poor and uneducated can’t blame them because they are only familiar with it
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Because Milo is very common for everyone and easier to understand for layman.

U expecting the poor to downgrade to fake chocolate drink? They also don't want la.

Whether the business take advantage or not is the issue. Other costs will go up during GST like last time.

How about expenses for new accounting software and extra cost to hire staff to handle the GST calculations and payments. These expenses made business more expensive after GST implementation. Surely, u don't expect the business owners to absorb the cost completely? Perhaps after 10 years or so, they may but the first few years, everything will be expensive.

Of course, GST is a fairer tax because everyone pays from sick, old, illegal, young and even dying but unlike other countries, it is almost impossible to satisfy everyone especially since tax collections is quite low in MY. MY simply has too many poor people not paying taxes or not even qualified to pay at all.

This post has been edited by acbc: Feb 24 2023, 06:37 PM
acbc
post Feb 24 2023, 06:38 PM

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QUOTE(xander2k8 @ Feb 24 2023, 06:34 PM)
1stly your example is wrong and failed because Milo is not an essential product because it processed product unlike Milk or raw cocoa 🤦‍♀️

Those who drink Milo are addicted to preservative that Nestle added in to make them addicted to it 🤦‍♀️

I have not been drinking for more than 30 years as it is cheaper to make my own chocolate drink instead
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That's you but others may not agree with u nor have the time to make their own chocolate drink. It is simply easier to just buy from the shelf.
acbc
post Feb 24 2023, 07:07 PM

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QUOTE(xander2k8 @ Feb 24 2023, 06:59 PM)
You want convenience you pay GST for processed products 🤦‍♀️ it is a simple as that as humans always have choices if you want to save money

GST is only exempted for raw materials and it has been in use in countless countries since the 90s
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True but it doesn't work here.

It may eventually but as the gomen is quite unstable, politicians also afraid of losing power because of unpopular decisions.

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