Finance announced that the Goods and Services Tax (GST) will increase by 2 per cent, as he delivered Budget 2018 yesterday. This tax hike will raise the GST from 7 per cent to 9 per cent and will be implemented sometime between 2021 and 2025, in a progressive way.

It is of interest that the GST hike will only be implemented from 2021, as it means that the tax hike will most likely only go into effect after the next General Election which must be held by 15 Jan 2021.

Singapore will celebrate 200 years since Sir Stamford Raffles arrived in Singapore, next year, and many expect the Government to celebrate the occasion by giving cash bonuses to .

This – combined with the $100-$300 all Singaporeans will receive as a one-off bonus this year due to the exceptional Budget surplus of FY2017 – could signal that the next election will be held earlier, given past election trends.

The nation was celebrating its 50th year of independence in 2015 when the last General Election was called. Citizens received a “SG50” cash bonus in the run-up to the election, which the PAP won with an overwhelming majority.

In Budget 2015, middle-income earners who paid personal income tax received a 50 per cent rebate of up to $1,000. Besides this, eligible Singaporeans aged 55 and above received a one-off Seniors’ Bonus of $150 to $600 in cash, as well.

2015 was also the same year that the nation’s founding Kuan Yew passed on. Political observers speculated at the time that the Government called a General Election earlier than expected during the last cycle, to capitalise on the wave of goodwill that poured forth after the political leader’s passing.

The General Election before that, was preceded by Budget 2011, in which the Government distributed $1.5 billion worth of “growth ” to Singaporeans. 80 per cent of citizens received $500 to $700 each that year.

With the trend of one-off cash bonuses preceding in recent years, it may come as no surprise to some if the next election is called as soon as 2019. If this happens, the people will be hit with the tax hike two years into the new government’s term.

https://theindependent.sg.sg/all-singaporeans-above-age-of-21-will-receive-hongbao-of-at-least-100-budget-2018/

https://theindependent.sg.sg/gst-will-rise-by-2-finance-minister-confirms-at-budget-2018/

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Anonymous
3 years ago

If they lose 2 GRC, GST will reduce to 5%?

Anonymous
3 years ago

If it’s 2019 would be better still but doubt so..!!

Anonymous
3 years ago

the earlier the better. kick them out faster and everyone can sleep better.

Anonymous
3 years ago

Wait for the next election

Anonymous
3 years ago

Not surprised if timing of tax hikes is somewhat linked to next GE. PAP is not stupid to incur the wrath of voters by hiking tax before GE.

Anonymous
3 years ago

Don’t worry! Most of the Singaporean are blind and dumb. They will not remember anything except know how to KPKB.

Anonymous
3 years ago

In 2019, there are 200 yr Bicentennial Celebration and AHTC law suit. A perfect storm to kaput Aljunied GRC incumbent.

Anonymous
3 years ago

For them…sure can get 70% loyal supporters…regards any GST hike…etc..increase other tax…/fee….

Anonymous
3 years ago

If the election is as per plan of 2020 or 2021, than it will coincide with USA president election, from history the world economy will not do well. Do you think they will held an election in 2020?

Anonymous
3 years ago

Aiyo! Nothing new lah… Everyone knows their pattern..

Anonymous
3 years ago
Reply to  Anonymous

That’s why our neighbours are good in badminton but we’re no. 1 in chut out pattern!

Anonymous
3 years ago

If only fools wake up from lala land n see wats going on…

Anonymous
3 years ago

maybe already standby outcome of AHTC trial in 2019, if WP lose, GE follow plus some small hongbao as sweetner, all the GST hoohaa will be drown out .

Anonymous
3 years ago

Good article

Anonymous
3 years ago

拖泥带水

Anonymous
3 years ago

I’m voting against GST hike.

Anonymous
3 years ago

ROTTON PAP IS TRYING TO SAY THAT IF DAFT SG STILL VOTE THEM TO BE THE GOVT IN THE NEXT GE, THEN IT MEANS THAT SG THEMSELVES ARE AGREEABLE TO GIVE ROTTON PAP GOVT THE MANDATE TO TAX SINGAPOREANS MORE!!

Anonymous
3 years ago

Knowing Singaporeans so well they will continue to vote then to be in power beyond 2020

Anonymous
3 years ago

curious timing ?…….no what……just like CON Hee going to jail after GE2015……..and coming out before GE2020……….

Anonymous
3 years ago
Reply to  Anonymous

Singapore govt now a days alway get lousy deals from other countries. That the standard now a days.

Anonymous
3 years ago

Carry on Sinkies, keep voting for elites and get poorer. If you are down right stupid and idiotic, even God won’t help you.

Anonymous
3 years ago
Reply to  Anonymous
Anonymous
3 years ago

No comment.

Anonymous
3 years ago
Reply to  Anonymous

Ya…I think they need a good alarm clock….

Anonymous
3 years ago
Anonymous
3 years ago

GST hike is needed because this surplus is unsustainable. Its a chance combination of macroeconomic factors that led to the appreciation of SGD hence the surplus. Look longer into the future and stop being such near sighted creatures you all are…

Anonymous
3 years ago

even tax 20% the sheeps still follow ,,gone case liao