Why does the Singapore government give money to the people?

In 2022, Singapore's GDP exceeded US$ 460 billion, with a per capita GDP exceeding US$ 80,000, a record high. Although the year-on-year growth rate dropped to 3.6%, it clearly outperformed most countries and continued to be the richest man in Asia compared with 202 1 70,000 US dollars per capita.

Economic development is accompanied by inflation, which has been high in Singapore for three years. The reason is also very simple. As a country that is almost completely dependent on imports, due to geopolitics, rising energy and food prices, the US dollar has raised interest rates many times, so the price increase is inevitable. What's more, starting from 65438+ 10/month 1 in 2023, Singapore itself raised the consumption tax by 1 point, from the original 7% to 8% for all goods, and further increased it to 9% in 2024.

In 2022, prices will rise by at most 7 points, but in 2023, the Singapore government will have to levy an additional consumption tax of 1 point. It is foreseeable that inflation in Singapore will continue in 2023. The government also admitted that inflation in Singapore will remain at 5.5-6.5 in 2023.

You know, the internationally recognized inflation level is within 3%. The US inflation rate of 6.4 5438+ 10 in June has made the Fed unable to sit still, and will continue to raise interest rates, vowing to control cpi within 3. Singapore clearly knows the crux of its currency. It is necessary to raise national income and ensure the stability of commodity prices by taxing commodities, so giving money may temporarily alleviate the contradictions among the masses.

Therefore, Singapore decided to send money. However, giving money is definitely not the "poor people give money and the rich tax" mentioned in the title. This title has a sense of rhythm and artificially divides classes into opposites. In fact, what Singapore does is to "tax everyone and give some residents money."

1, tax increase, especially consumption tax, is a tax increase on all goods. Don't look at people Whether it's chicken, duck, fish, poor or rich, you have to pay 8% consumption tax. This is printed on the shopping receipt. You can clearly see the price, consumption tax and total amount of goods. In 2023, Singapore will add 1 point, from 7 to 8, and will continue to increase from 8 to 9 next year.

Is there a consumption tax in China? Yes, but not all goods, only some goods. The scope of consumption tax is mainly cigarettes, alcohol, automobiles, cosmetics, gasoline and other non-essential items. The tax rate ranges from 3% to 56% of cigarettes, but pork, chicken, vegetables and fruits, rice and other necessities are not only exempt from consumption tax, but also some of them are exempt from value-added tax (17% value-added tax is required in Singapore).

Why should I compare China here? Nowadays, many articles like to beautify countries such as Europe and America, and Singapore was once considered as the most suitable country for immigrants. But in fact, from the perspective of tax burden, China has given a lot of support to ensure that more than one billion people have enough to eat, which is not as simple as giving money to a small country.

2. send money. Singapore overcharged 1% of the total consumption tax. Let's see how much money it has given the people.

February 14 is the day when Singapore's 2023 budget was made public, which is also the first fully liberalized budget after the epidemic. The total value of this budget is nearly S $654.38+S $24 million.

The first subsidy is the consumption tax subsidy.

In order to offset the impact of the increase in consumption tax on families and individuals, the government decided to raise the maximum subsidy from S $500 to S $700 in 2023.

The standard for receiving this subsidy is: according to the value of the house where Singaporeans live.

If the annual housing value does not exceed 65,438 yuan+03,000 yuan, the cash subsidy for consumption tax vouchers will be increased to 700 yuan from this year;

If the annual house value is between 13000 and 2 1000, the cash subsidy is S $350.

What is the annual value of the house? Simply put, it is the net rental income after deducting other expenses such as property management fees. If your rental income is less than SGD 1.3 million (SGD 1 =5 yuan RMB, 65,000 RMB), you can get 700 yuan subsidy every year; If it is higher than SGD 13000, SGD 350 can be obtained; If it is higher than S $265,438+00,000, you can't get the money.

The core point here is that those who have no housing can't get subsidies, and those who have high rental returns can't get subsidies.