Anyone here live in Singapore?

[McLovin]

What does me being in a country or not have to do with it being a quasi-dictatorship? I am in Australia, and I know Australia is one. I have never been to USA, yet I am well aware it is the worst example thereof.

When you go and actually see a real dictatorship as opposed to reading about one on Wikipedia, then you'll know why Australia isn't one.

Pointed out? I know well enough how capital gains are handled in Australia. And as I pointed out, the advantage in Singapore is that there is no capital gains tax.

Yes, pointed out when you said you wanted to move to Switzerland for the same reason. If you are trading then your capital gains will be subject to ordinary income tax.

 

[Trembling Hand]

Not take away the profit?

I'm sure they would be happy to give back taxible portion of the profit you have never made. Right after you stop using their roads/public transport, pay back every sent it cost to educate you, hire your own police and judicial system, pay for 100% of health care and summon your own army.

 

[sammy84]

Thanks Sammy,

On the top of my bucket list is to spend a year in Singapore. Without listing the google address what are the requirements for temporary residency and what are the advantages and disadvantages of living there.

I have stayed for 3-10 days there as a transit tourist, on about 6 or 7 occasions, and like the style of Singapore.

Disclaimer: I do not chew gum.

gg

Sorry GG don't know the temporary residency requirements as I'm across the border in Indonesia. I always enter as a tourist. Presumably you would need some kind of sponsor. You could always do a visa run every 30 days.

Here's my advantages/disadvantages on Singapore.

Adv
No traffic. In general everything is well organised, much like Hong Kong. The rest of the world should learn from this.
Clean.
Great restaurants and bars.
Big expat population.
Cheap chili crab. You could eat a crab a day and it wouldn't put a dent in your budget.
It has a Universal Studios.
The casino is pretty cool, even if you have to drink before entering.

Dis
Almost too clean.
Expensive property and cars.
Arrogant investment bankers are everywhere.
Mints get get boring if you're a gum man.

Sorry I actually can't come up with many genuine disadvantages, it's all-round a pretty cool city.

 

[Starcraftmazter]

When you go and actually see a real dictatorship as opposed to reading about one on Wikipedia, then you'll know why Australia isn't one.

How blind you are. Just because every 3 years you get to pick a new master, doesn't make you any less of a slave.

Yes, pointed out when you said you wanted to move to Switzerland for the same reason. If you are trading then your capital gains will be subject to ordinary income tax.

Switzerland? Last I checked, this is a thread about Singapore. This is apart from the fact that Switzerland does not have a capital gains tax. If I wanted to move there and work as an engineer, any money I make through trading is tax free.

And I might live in Switzerland as well, no reason to try several countries and see which is best. But for now, it seems like it would be easier to move to Singapore, and it's obvious proximity to Australia presents a significant advantage.

I'm sure they would be happy to give back taxible portion of the profit you have never made. Right after you stop using their roads/public transport, pay back every sent it cost to educate you, hire your own police and judicial system, pay for 100% of health care and summon your own army.

Haha what are you serious? Police, judiciary and roads are primarily funded by local and state governments who do not charge any capital gains taxes. My parents payed the taxes to educate me - that has nothing to do with me. Also, the education budget is a tiny proportion of the federal government expenditure. I am not against all tax, but you do not need capital gains tax to fund education.

And I never asked for public healthcare, and do not want that trash. Nothing but clinics filled with old people.

Let's be clear - the problem is the Federal government, which imposes an unfair amount of tax on people like me to pay for all the failures in this country. People too lazy to work, people who can't be bothered paying for their own healthcare, people who are incapable of saving money.

Worst of all, the government wants people like me to pay pensions to the entire boomer generation - as they continue to hold onto 2/3rds of the nation's property, completely exempt from means testing. That constitutes slavery.

Do not lecture on taxes, when it is people like me from whom the government takes all the money and redistributes it to everyone else who doesn't deserve a cent, while people like me get absolutely zero in return.

 

[Trembling Hand]

Do not lecture on taxes, when it is people like me from whom the government takes all the money and redistributes it to everyone else who doesn't deserve a cent.

Well its pretty easy to lecture you on taxes when you don't even realise that trading profits are not subject to capital gains tax like you keep stating.

Then to think that you have not benefited from others paying tax is just delusional.

And its a reasonable guess than most here have paid a lot more tax than you young fella

 

[Garpal Gumnut]

Sorry GG don't know the temporary residency requirements as I'm across the border in Indonesia. I always enter as a tourist. Presumably you would need some kind of sponsor. You could always do a visa run every 30 days.

Here's my advantages/disadvantages on Singapore.

Adv
No traffic. In general everything is well organised, much like Hong Kong. The rest of the world should learn from this.
Clean.
Great restaurants and bars.
Big expat population.
Cheap chili crab. You could eat a crab a day and it wouldn't put a dent in your budget.
It has a Universal Studios.
The casino is pretty cool, even if you have to drink before entering.

Dis
Almost too clean.
Expensive property and cars.
Arrogant investment bankers are everywhere.
Mints get get boring if you're a gum man.

Sorry I actually can't come up with many genuine disadvantages, it's all-round a pretty cool city.

Thanks mate,

gg

 

[Starcraftmazter]

Well its pretty easy to lecture you on taxes when you don't even realise that trading profits are not subject to capital gains tax like you keep stating.

I pay tax on my trading profits, there's nothing else to it.

Then to think that you have not benefited from others paying tax is just delusional.

Benefited how?

And its a reasonable guess than most here have paid a lot more tax than you young fella

And I care how? If you and other old people here want to pay tax for the benefits of others then feel free. I'm however uninterested in this arrangement.

 

[McLovin]

How blind you are. Just because every 3 years you get to pick a new master, doesn't make you any less of a slave.

Apparently I'm completely blind. I guess ignorance is bliss.

Switzerland? Last I checked, this is a thread about Singapore. This is apart from the fact that Switzerland does not have a capital gains tax. If I wanted to move there and work as an engineer, any money I make through trading is tax free.

And I might live in Switzerland as well, no reason to try several countries and see which is best. But for now, it seems like it would be easier to move to Singapore, and it's obvious proximity to Australia presents a significant advantage.

You asked the same question about Switzerland, and you were given the same answer.

Switzerland, Singapore, New Zealand, it doesn't really matter where you choose to go. If you're trading you will pay tax on your capital gains. If you're going to try and pretend to be some sort of tax expert you should probably start with a working definition of what capital gains tax is.

I predict you won't go anywhere though.

 

[McLovin]

Well its pretty easy to lecture you on taxes when you don't even realise that trading profits are not subject to capital gains tax like you keep stating.

Even worse, it's been mentioned so many times and he still doesn't get it.

 

[Starcraftmazter]

Switzerland, Singapore, New Zealand, it doesn't really matter where you choose to go. If you're trading you will pay tax on your capital gains. If you're going to try and pretend to be some sort of tax expert you should probably start with a working definition of what capital gains tax is.

Maybe you should know what you are talking about first.

http://www.iras.gov.sg/irasHome/page04.aspx?id=152

Gains from sale of shares & financial instruments

Generally, profits or losses derived from the buying and selling of shares or other financial instruments on your own account are viewed as personal investments.

Capital gains are not subjected to tax. If you buy and sell shares or other financial instruments at a profit, the profit is not subjected to tax.

 

[McLovin]

Believe me, I have a much better understanding of it than you do.

From the page you just provided.

When is it taxable

To determine whether an individual is trading, factors such as the frequency and volume of transactions, the interval between the purchase and sale, and the manner of financing the purchase of shares, will be taken into consideration.

The three circumstances factors above alone do not determine whether the gains are taxable.

Surprise, surprise, if you're trading they tax you.

 

[Trembling Hand]

Even worse, it's been mentioned so many times and he still doesn't get it.

Its pretty clear he hasn't a friggin clue what tax is payable on trading profit because he has never made one.

I pay tax on my trading profits, there's nothing else to it.

LOL, There no profit thats for sure.

 

[Starcraftmazter]

Surprise, surprise, if you're trading they tax you.

You must not understand English, because that is the opposite of what that page says. The other part is clearly meant to stop people trading on behalf of companies.

Even if trading is taxed in Singapore (and I am not suggesting for one moment it is, as it clearly says it is not right there), the amount of tax you would pay would be far far far smaller than in Australia - thus the point stands even if you cannot understand English, as I am sure you understand mathematics?

Its pretty clear he hasn't a friggin clue what tax is payable on trading profit because he has never made one.

Take a hike troll.

 

[McLovin]

You must not understand English, because that is the opposite of what that page says. The other part is clearly meant to stop people trading on behalf of companies.

Oh dear. Good luck with it all.

 

[Trembling Hand]

Take a hike troll.

What was it I've seen you say before? Thats right, once someone has lost all they have left in insults.

 

[Garpal Gumnut]

Take a hike troll.

I have visited Singapore on many occasions and believe it balances East and West, and is overall a peaceful and tolerant space.

Your post SCM does jar.

gg

 

[Starcraftmazter]

Oh dear. Good luck with it all.

Luck does not factor into anything I do. Everything is logically calculated.

What was it I've seen you say before? Thats right, once someone has lost all they have left in insults.

Lost what? We're not arguing about anything, you are just trolling.

 

[Trembling Hand]

Luck does not factor into anything I do. Everything is logically calculated.

SCM are you really that dumb?????

If you are a TRADER your gains are taxed as ordinary income.

NOT AS CAPITAL GAIN!!!

 

[Starcraftmazter]

SCM are you really that dumb?????

If you are a TRADER your gains are taxed as ordinary income.

NOT AS CAPITAL GAIN!!!

Where does it say that? Certainly not on any single website I have been to. Please present evidence.

But again - let us live in a magical world where you are correct. Let us say again that $250k SGD trading profits (very modest amount) will count as income.

In Singapore, that leaves me with $219,200 after tax.
In Australia, that leaves me with only $169,901.

That is a difference of $50,000.

 

[Trembling Hand]

Where does it say that? Certainly not on any single website I have been to. Please present evidence.

I'm right, you're are way off. Why? Because I've been paying tax as a trader for 7 years. One day when you make a profit you maybe able to pay for the services of an account to find out rather than wiki.

Good luck with your move.