Not doing what is really needed, focusing on m40 and t20 specifically, the following is my personal opinion.
1. GST is not daring to be reinstated, afraid of the previous criticism of GST hitting back, insisting on the nonsense about needing a minimum wage of 3-4000, clearly subsidies can be given to b40 to offset GST, GST can also bring in money from foreigners and foreign labor for consumption, the current SST may not even collect tax from foreigners. Also, with GST, there is no need for e-invoices, not restoring GST now has made everyone so busy, needing to do more things. If SST is really that good, why are many countries using GST instead of SST?
2. Making foreign labor contribute to EPF, the prime minister seems to think that the country has too much money for charity, our neighboring Singapore used to make foreign labor contribute to CPF a long time ago, but they turned around after implementing it for a few years, recently they even want foreigners to close their accounts. Some may think that making foreign labor contribute to EPF is not a big deal, but companies need to additionally allocate 13% of foreign labor wages to EPF, which will eventually be passed on to consumers. EPF also pays interest every year, the decision is not cost-effective.
3. Minimum wage of 1700 per month, this policy is like treating symptoms instead of the root cause, the fundamental issue is not that wages are insufficient, but it is because the market prices are chaotic, what needs to be regulated is not the minimum wage but the source. Of course, this will lead to cost increases, which will also be borne by consumers.
4. 2% dividend tax, this is considered double taxation, the company's revenue has already paid corporate tax, dividends and salaries are of different nature, as salaries are tax-free for companies they necessitate personal income tax, but dividends have already been taxed by the company so an additional 2% tax is like a tax on tax, even though it is currently only collected for 0.1 million and above, there is no guarantee that it will not be reduced to 0.05 million or even 0.01 million in the future, then everyone will have to pay tax.
5. Civil servants issue, this is the most crucial, the prime minister dares to touch everything but not this, always stating that government expenses are high, but the real hefty expenses are not cut, they still have to give them so many bonuses, it would be better to introduce a performance-based system to reduce excess civil servants, making the government's finances healthier.
Conclusion: I think this budget is mediocre for b40, just continuing from the past to the present, but m40 and t20 are in a dire situation, your salaries may not necessarily increase but you will definitely have to bear all kinds of taxes and upcoming cost increases.
The above is my personal opinion, if you do not like it, please refrain from attacking, thank you all.
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变态佬 : No hope, this government, such mediocrity..
CatMeow 变态佬 : then migrate. do what sit here and sulk
Moomoo MY : Nice sharing![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
历史的垃圾时间 : There used to be some political parties that could bark at the government, now everyone is cooperating, sharing the blessings together.