Lim was retrenched at age 58, and never managed to secure steady employment since. He decided to sell his 3-room flat and move in with his daughter as she has only one child, and there was an extra room. The proceeds from the sale should take care of the evening years for him and his homemaker wife. The son-in-law was never excited about Lim's retirement plans, and would express his unhappiness every so often. Since he is now asset-less, Lim was entitled to $200 for his 5-year Medisave Top-Up, plus his $250 (GST Voucher-Cash) and $250 (GST Voucher-Cash: Seniors' Bonus).
The irony is that Raymond had been a life-long supporter of the current regime, and had always been voting for the "correct" political party. A civil servant from first job to retirement, he felt short-changed. Lim was one of those embittered uncles who would rant to anyone within hearing range of his "kopi-tiam kakis". You would too, if your private sector career was ruined by a cheaper foreign talent import. Besides going on about the evils of GST, he is equally vocal about CPF Life and the Minimum Sum.
The Permanent Secretary (Finance)(Performance) who signed off the GST Voucher letter wrote:
"We hope that this letter has been written in a way that is clear to you. If not, please let us have suggestions on how to improve this letter at gstvoucher@cpf.gov.sg."
What is clear is that GST is still regressive, with or without the "permanent" GST rebates. One suggestion is to bring the letter to the smallest room in the house. First it is in front of you, then it is behind you, then flushed away with a copious amount of water.
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I do not envy the Civil Service department tasked with this "yearly" notification exercise . Really having very mixed feelings . Joy is not one of the emotions.
ReplyDeleteBased on the 7% GST, I have been paying a few thousand dollars each year with income or no income. I get back peanuts. The piece of paper reminds me I am a monkey. Yes, now I need to flush it down the toilet.
ReplyDeleteWould throwing away the GST voucher letter into the litter bin at a polling station in GE 2016 send a clearer message?
ReplyDelete"The cabinet is left of centre" so they come up with regressive tax regimes like GST , which will "eventually" be good for you because every extra dollar of GST you pay, the billionaires will pay less, so they can buy more properties and ferraris, that wil boost GDP growth so govt can give you more subsidies and GST handouts! (only scholars can come out with such cu=ircular logic, but hey everypone of them are oxprodge PPEs, all experts at philosophy and Keynesian economics).
ReplyDelete"FT creates jobs for Singaporeans" so don;t despair if your job is taken by FT, because the savings the towkay enjoy through your sacking will mean he can have a few more PRC mistresses, who in turn will spend more in restaurants, shopping malls, so children can support themselves thru university working part-time in shopping malls (if they can get into the universities with all the fully-paid foreign students who speak no english).
They think that by giving out these derisory sums will earn them eternal gratitude? They only add insult to injury. The whole system needs a complete overhaul, not endless tweaking. Time for change.
ReplyDeleteExcuse.
DeleteIn PAP denominated currency;
PAP$1 Derisory = S$5,000.
So S$250 = PAP$0.05 Derisory.
Isn't the CPF Life Scheme another form of final tax upon the death of the younger CPF member especially those who die before 65? The only consolation is that you do not know whether you will be the lucky or unlucky one ?
DeleteOnly the widowed spouse especially those poorer ones will feel the pain of having part of the CPF 'remaining' sums taxed away by the Govt to help pay for those who just happen to live longer.
Isn't our PAP scholars who came up with such devious schemes both cunning & cruel for not losing the opportunity to be able to siphon part of other people's coffin money way to help pay for the Govt's costs of providing for the aged ?
You would think so but they get voted in GE after GE by a large majority - go figure.
DeleteYou have taken the whole chicken, now you give me only a drumstick? Every time I receive these statements, I feel cheated.
ReplyDeleteUnless you are Zorro who is over the hill each time he receives his CPF statement.
DeleteWhat say you, Zorro? Do you "feel rich" when you see the GST Voucher?
Delete