Monday, March 5, 2007

The GST Budget Package

GST of 7% starts on 1st July 2007. Most of us will be getting GST credits in Cash over next 4 yrs.

1) Those who lives in 1-3 room flats with assessable income below $24,000/yr
=> $250/yr x 4 yrs

2) The general population will receive
=> $200/yr x 4 yrs

3) Unless Housing Annual value exceed $10,000, then will get
=> $25 or $100yr x 4 yrs depending if assessable income exceed $100,000/yr

** NSmen and NSF will get an additional $100 of GST Credit.

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