How do you pay your Income tax?

[R-oyster]

i dont get the option to pay lump sum , all automatically deducted from my pay

this is a withholding tax system which I presume is applicable in Australia where u live.

[seiko.citizen]

yup!

[sportee]

OIC... Not the spore tax la...

[fatt]

this is a withholding tax system which I presume is applicable in Australia where u live.

now, malaysia also does this prepaid system. it used to be like singapore one until 1999 if i not wrong.
good about singapore system is you pay later and of course more money to spend now. [shiok first pain later]

recently early of the year, this prepaid system was brought up to debate and till now no news. since this credit crisis, many people are affected. so less taxes will be collected. it will be easy to introduce now with no much being affected.
maybe singapore is rich and no need this system. keke

[seiko.citizen]

i think prepay is better, from a gov't POV. Interest free money

Post pay is better from the wage earner, but, for some who don't budget, later no money to pay. How?

[angry]

Giro.

[jonolau]

How do I pay for my income tax? Very simple: I pay it with a heavy heart!

GIRO for me.

[rh1667]

Be glad that we need to pay income tax, it means we are earning a more than decent living.

I remember there was one year when i do not need to pay income tax, even get tax refund for the dividend taxed ahead. That was a tough year .....perhaps tough was an understatement.

After that experience, i am happy to pay income tax.
Btw, i dont work for the garment sector. Just sharing my 0.0002 cents view here.

[exxondus]

Be glad that we need to pay income tax, it means we are earning a more than decent living.

I remember there was one year when i do not need to pay income tax, even get tax refund for the dividend taxed ahead. That was a tough year .....perhaps tough was an understatement.

After that experience, i am happy to pay income tax.
Btw, i dont work for the garment sector. Just sharing my 0.0002 cents view here.

just curious...

hmm assuming u are still earning what u are earning now + no need income tax.

would u still feel the same?

me don mind paying cos my tax very little due to low income haha...but just wondering which part of what u said made sense thats all.

[wolfeyes1974]

Be glad that we need to pay income tax, it means we are earning a more than decent living.

I remember there was one year when i do not need to pay income tax, even get tax refund for the dividend taxed ahead. That was a tough year .....perhaps tough was an understatement.

After that experience, i am happy to pay income tax.
Btw, i dont work for the garment sector. Just sharing my 0.0002 cents view here.

i agree...it's very scary to be out of job...can sometimes feel clueless and worthless....am glad ya out of it, bro!

[rh1667]

just curious...

hmm assuming u are still earning what u are earning now + no need income tax.

would u still feel the same?

me don mind paying cos my tax very little due to low income haha...but just wondering which part of what u said made sense thats all.

Well, you may be aware that if you annual income is less than S$20k, you do not need to pay income tax, so if you are required to pay income tax, that means you are earning more then 20k annually.

If i do not need to pay income tax with the same level of income i am having now, than of course i will be happier ....

[rh1667]

i agree...it's very scary to be out of job...can sometimes feel clueless and worthless....am glad ya out of it, bro!

ya, besides clueless and worthless....u suddenly find you have much lesser " friends " around you, even though you do not survive by borrow $$ from them. Now, i know who are my friends that i can depend on.

[jonolau]

I went through that once during Asian crisis and it was scary as hell not working for almost a year.

No income tax, but no income.

Lucky then I was still unmarried, and had no commitments.

[rh1667]

I went through that once during Asian crisis and it was scary as hell not working for almost a year.

No income tax, but no income.

Lucky then I was still unmarried, and had no commitments.

thats why now, i dont feel so negative when it is time to pay income tax....ha ha, at least means have income....

[feilong108]

good to tink on the bright side of things...hehehehe