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Do we need to pay the agent's company 7% gst on top of the commission after a closing of a sales ? Look forward to hearing from you guys.
We do pay for the agent's commission * 7% GST if it is a GST registered company.
Do we need to pay the agent's company 7% gst on top of the commission after a closing of a sales ? Look forward to hearing from you guys.
When GST first introduced, whatever is the price written, it is INCLUSIVE of GST. It was part of the argument when Government argued that we need GST, so it wont make things worst. Since, God knows when, GST became 7% and it is no longer inclusive. It is one of the things that totally upset me. If you pay anything, you have to pay GST. Even for things such as commission that was written not more than x %. So, in fact, the x% is to add another 7%. The company can claim GST benefits. You cannot. You lose out. The right thing is, there should be a differentiation over this GST application. When agent asked for GST, I declined to sign. I only take agent who is willing to work without the GST. It's just my way of doing it. Some agents are OK, some are not. Depends on who you get. If you look through some legal documents, they still use the old way of GST computation. That is, GST is included in the price they quote you. Japan, Australia, etc. are countries that continue this practices. Only Singapore. Somehow along the way, that 7% is very clearly felt by consumers, especially those who tend to take things on face value. I dont know what happened to those promises I remembered was told to us when GST first implemented.
devilplate
29-04-11, 22:41
dunwan to pay GST for comm....den choose those smaller agency lor....
if not either u pay for it or the agent themselves absorb unwillingly lor....
sames goes to comm wat....nobody say must be 1% or 2% ....anything can nego one....0.5% or even $1 aso can wat....LOL
kingkong1984
30-04-11, 04:32
Commissions can be higher than that.
Everything is negotiable.
If dun want to pay GST, make it GST inclusive in com and agents will pay for u if they want to declare.
Commissions can be >2% as it has been lifted.
U can also pay fixed commissions, say 5k.
Always try to give better coms if u want to sell fast. If not, let the property sell by its own qualities.
Insist on not paying the GST. Insist on just 0.5% commission. Insist on your rights to choose you agent. It's still the seller's market, not agent's. :D I do know that some agents will bypass their companies and sell you without declaring... :scared-1:
kingkong1984
30-04-11, 09:30
Insist on not paying the GST. Insist on just 0.5% commission. Insist on your rights to choose you agent. It's still the seller's market, not agent's. :D I do know that some agents will bypass their companies and sell you without declaring... :scared-1:
Like tat nobody will want to serve u, u diy better. Very easy actually. Just have to declare upfront that u r owner.
GST is included or excluded in coms, thats all. I would gladly pay 2% plus GST if it sets a record price for that project in psf adjusted terms based on floor level. But of course, if low ball, I give 0.5% inclusive of GST.
Hope Tharman keeps his promise otherwise we will ahve to pay more GST. It can be quite substantial for even a 1% commission of the multi-million property deal.
Like tat nobody will want to serve u, u diy better. Very easy actually. Just have to declare upfront that u r owner.
GST is included or excluded in coms, thats all. I would gladly pay 2% plus GST if it sets a record price for that project in psf adjusted terms based on floor level. But of course, if low ball, I give 0.5% inclusive of GST.
kingkong1984
30-04-11, 09:49
GST will Always go up, just when.
U seen any country reduce GST?
So whatever govt in power, will also go up.
It's like cancer. You cannot cure it but u can delay it with proper medication/treatment.
Eventually, you still have to die.
With an aging population, the shrinking younger generation will never be able to support the old in medical care, etc. Better grow the $ otherwise ourselves and children will be trapped.
GST will Always go up, just when.
U seen any country reduce GST?
So whatever govt in power, will also go up.
It's like cancer. You cannot cure it but u can delay it with proper medication/treatment.
Eventually, you still have to die.
kingkong1984
30-04-11, 13:59
I am neutral. If A is no good, then B might not be good also. Both are medicines. There's no cure to the problem actually. We just choose the best medicine before we die.
Our Children, they can choose when its their turn.
Maybe they will not be in Singapore also. Might end up being a foreign worker or maid elsewhere u know? We take care of our own interest lah.
GST will Always go up, just when.
U seen any country reduce GST?
So whatever govt in power, will also go up.
It's like cancer. You cannot cure it but u can delay it with proper medication/treatment.
Eventually, you still have to die.
:D :D :D :D :D :D :D :D
Unfortunately, it does not work this way. :doh:
I am neutral. If A is no good, then B might not be good also. Both are medicines. There's no cure to the problem actually. We just choose the best medicine before we die.
Our Children, they can choose when its their turn.
Maybe they will not be in Singapore also. Might end up being a foreign worker or maid elsewhere u know? We take care of our own interest lah.
kingkong1984
30-04-11, 16:38
Unfortunately, it does not work this way. :doh:
so how does it work?
and in what ways?
;)
It is going to be a legacy. Good or bad legacy has to be decided by Singaporeans. Decision made now will have great impact on our children and future generation.
so how does it work?
and in what ways?
;)
devilplate
30-04-11, 18:24
It is going to be a legacy. Good or bad legacy has to be decided by Singaporeans. Decision made now will have great impact on our children and future generation.
dun u see most of the popular proposals r short term solutions?:doh:
gd medicine never taste good......chinese proverb....hehe
It should be short/mid-term goals leading to long term goals. Majority of Singaporeans are not so short-sighted. It is not medicine but antedotes.
dun u see most of the popular proposals r short term solutions?:doh:
gd medicine never taste good......chinese proverb....hehe
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