$2k profit a day!

[hyenergix]

No need to invest in properties along Paya Lebar. Be a hawker: $2k profit a day.

http://forums.hardwarezone.com.sg/ea...3655147-8.html

[devilplate]

U tink they got report 2k nett profit a day to iras yearly? Hohoho

[hyenergix]

Very likely they will declare $2k nett profit to IRAS. But it is very likely their true profit is significantly higher than $2k per day:

Assuming $10 price per pax and deducting costs of meat, rice, rental, utilities etc, profit could be $7 per pax. If they serve 300 pax during from late morning to mid-afternoon, then it will be at least $2100 pure profit per day.

[peterng8]

Very likely they will declare $2k nett profit to IRAS. But it is very likely their true profit is significantly higher than $2k per day:

Assuming $10 price per pax and deducting costs of meat, rice, rental, utilities etc, profit could be $7 per pax. If they serve 300 pax during from late morning to mid-afternoon, then it will be at least $2100 pure profit per day.

IRas will just get someone to sit there whole day and count...will know just like the curry puff case...

[PN]

When you became headline in Newspapers, better make sure your finance statements & taxes are in Tip Top condition. Don't play play.

Remember PM Lee praised Tip Top Curry Puff some years back and next he's caught & jailed for evading tax.
http://www.asiaone.com/Business/News...009-29100.html

For Entrepreneurial Spirit
Tip Top: Mr Looi Chong Wee, 32
whose father set up the curry puff outlet in Singapore, is flying Singapore flag in China by selling the snack there. He now has four outlets in Shenyang and two in Harbin, and is considering offering franchises

[roly8]

iras can trace back up to x years.

[hyenergix]

The morale of the story is: focus on developing your own skills to make a living and you can strike it big. If even a humble hawker can make more than $2k a day, so can you. You don't create value punting properties; you only get rich by robbing the wealth of future generations.

[devilplate]

The morale of the story is: focus on developing your own skills to make a living and you can strike it big. If even a humble hawker can make more than $2k a day, so can you. You don't create value punting properties; you only get rich by robbing the wealth of future generations.

U shd tell ur moral story to the banks and the US FED

We r just retail investors at the bottom of the food chain

[irisng]

My friend told me that one of her friends works for someone in a coffeeshop selling noodles. Her boss gave her $1k bonus after she works for 3 months only and gave the washing bowls woman $2k.

[hyenergix]

U shd tell ur moral story to the banks and the US FED

We r just retail investors at the bottom of the food chain

Sorry I can't link. The banks and FED have their own financial roles. Punters play the property market and do not produce anything of true economic value.

[devilplate]

Sorry I can't link. The banks and FED have their own financial roles. Punters play the property market and do not produce anything of true economic value.

It is ok...

[fclim]

IRas will just get someone to sit there whole day and count...will know just like the curry puff case...

Jail term means nothing to them hor. At most 2 weeks only. Doesn't affect their business or career one bit. A few hundred thousand dollars fine oso sup sup water.

[ilovekopi]

No need to invest in properties along Paya Lebar. Be a hawker: $2k profit a day.

http://forums.hardwarezone.com.sg/ea...3655147-8.html

Yup. If you have family tried and tested recipe, go ahead.
It is no easy work though unless you hire someone else to carry out the labour.

Enquired before.. E.g. Kopitiam. Rental per store is about 4k exclude dish washing and maintenance etc. Minimum must open stall 16 hours a day and only 2 rest days per month. So surely need to hire.

So unless you have famous 50 year old recipe. Success may take a few years to establish.

[devilplate]

Jail term means nothing to them hor. At most 2 weeks only. Doesn't affect their business or career one bit. A few hundred thousand dollars fine oso sup sup water.

few hundred K fine nia meh?

it depends how many yrs IRAs wana trace back hor...and the penalty is smthing like xx amt not declared X 5-10 times!!

looks like the 2mil jus nice to cover the penalty? wakakakakakakaka

a simple calculation for their annual income: 2k X365days = 730k....of coz i noe got off days lah....

so haolian go declare 2k NETTTTTTT daily profit.....its NETTTTTTTTTTTTTTTT hor.....

my mistake....it is 3-4 times penalty + fine or jail

"If a person is found to be evading tax, he can pay a penalty up to three times (if convicted under Section 96), or up to four times (if convicted under Section 96A) of the tax undercharged. A fine or an imprisonment will also be imposed."

[fclim]

few hundred K fine nia meh?

it depends how many yrs IRAs wana trace back hor...and the penalty is smthing like xx amt not declared X 5-10 times!!

looks like the 2mil jus nice to cover the penalty? wakakakakakakaka

a simple calculation for their annual income: 2k X365days = 730k....of coz i noe got off days lah....

so haolian go declare 2k NETTTTTTT daily profit.....its NETTTTTTTTTTTTTTTT hor.....

my mistake....it is 3-4 times penalty + fine or jail

"If a person is found to be evading tax, he can pay a penalty up to three times (if convicted under Section 96), or up to four times (if convicted under Section 96A) of the tax undercharged. A fine or an imprisonment will also be imposed."

Aiyah.. you really think they make only $2K per day meh? Their FH shop is fully paid and probably cost them like $30K years ago. They make much more..They purposely say $2K a day to justify their price tag and so that the ROI is 3 to 4 years to be attractive. Oso,they may have been paying taxes diligently based on $2K a day profit.

That curry puff seller too much. Declared such a ridiculously low income. IRAS sure catch one.

[irisng]

Wow, alot leh, $2k a day, that means 1 month (presume 26 days) is $52k, 1 year is $624k, really unbelievable. Does CEO in the MNC earns that much?

This shows that consumers suffer the most during "so-called" inflation, all eaten up by all these people who claim that everything increase, so they must also increase their prices. In actual fact, is it really due to those external uncontrollable situation that cause the inflation or man-made inflation.

[price]

Wow, alot leh, $2k a day, that means 1 month (presume 26 days) is $52k, 1 year is $624k, really unbelievable. Does CEO in the MNC earns that much?

This shows that consumers suffer the most during "so-called" inflation, all eaten up by all these people who claim that everything increase, so they must also increase their prices. In actual fact, is it really due to those external uncontrollable situation that cause the inflation or man-made inflation.

CEO of MNCs are drawing salaries. These are net profit of a Company split among many shareholders. How can u compare apple to orange? Why dont u compare the net profit of those MNCs against this small little duck rice stall?

Maybe they are just exaggerating lar, I'm sure they pay their taxes. after dividing the profits etc.