Tuesday 24 April 2018

The Real Effect of GST.

Food for thought! Drpd andaian berikut boleh kita cuba faham kesan GST keatas kumpulan pesara!
It's hitting us, especially the retirees real hard! Imagine how it is affecting those earning less! See the following illustration.....

Can Ahmad Maslan explain this...??

If someone had these expenses on a monthly income of RM 4000/- ( Annual income totalling RM48,000/-) :-
1. Tel/TNB/Internet/Astro, mthly say RM400/mth, payable GST is RM24/mth RM288/per yr 
2. Groceries RM600/mth, payable GST is RM36/mth RM432/per yr
3. Food/meals RM1,500/mth, payable GST is RM90/mth RM1,080/- per yr
4. Other exps RM1,500/mth, payable GST is RM90/mth RM1,080/ per yr
Total GST = RM2,880/yr..
Working backwards from​ YA2016 tax table, with the standard personal reliefs normally claimed, the amount of RM2880/-GST payable will work out to equal to income tax payable on an annual gross income of approx RM91,500...
Never seen GST that way...
So for a start the person with an annual income of RM48k is paying a GST amount which is equivalent to income tax for RM91,500.
And if an unemployed or retired person has that level of expenses illustrated above and living on savings only, (s)he through the aggregate GST paid (s)he can be deemed to have an income of RM 91,500 p.a... 
When in fact he has ZERO income...
MAD... ! ! !

steadyaku47 comment : received the above and thought I should share it with you guys...what says you?

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