GST rebate surfer: “Give yourself a chicken wing, then take out whole chicken at the GST hike”

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Singapore – Just days after they were told to expect a GST hike and GST voucher discounts, internet users expressed their frustrations online.

Sharing information about GST voucher discounts and the GST hike on social media and Facebook groups such as Singapore shading and Singaporean united, netizens commented like this: “Remember hor – nothing is free” and “Give yourself a chicken wing, later take the whole chicken off at the GST hike”.

They were reacting to Prime Minister Lee Hsien Loong’s New Year’s message announcing the grim news that an increase in the GST, or the goods and services tax, from 7 to 9 percent, was imminent.

Yet when Mr Lee said last Friday that “we need to start moving forward on this” given the need for a “dynamic economy to generate resources”, it was not exactly burning news. The increase was announced in 2018 during the budget speech of then-finance minister Heng Swee Keat, who said at the time that he expected it to take place between 2021 and 2025.

Prime Minister Lee also said on Friday that some 950,000 HDB households will receive their quarterly GST voucher – U-Save rebates in January.

Households have reportedly received regular and special payments totaling S $ 460 million for this fiscal year.

While none of the recipients likely rejects these documents, they are unlikely to deter complaints online and offline.

The government must have reliable and adequate revenue to carry out its social programs, Lee said, noting that it needs more revenue to pay for the expansion of health systems and support programs for the elderly. .

“This is the rationale for increasing a broad-based tax like the GST, coupled with a comprehensive offsets program to cushion the impact on low-income households,” Lee said.

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The GST is an essential component of the country’s tax and transfer system, which also includes taxes on income and on capital.

The better-off should contribute more, but everyone should bear at least a small part of the tax burden. “Overall, our system will remain progressive and fair,” he added.

Mr. Lee said the GST hike was planned. “Now that our economy is emerging from Covid-19, we need to start moving in this direction. “/ TISG

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