Is it worth it to get your big purchases before end of year to get that 1% saving from GST in 2023 ?

Seems like most companies are using this to market for their sales campaign which i feel may not be the best choice to purchase based on that.

Discussion (22)

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DunSayBojioHor

02 Jan 2023

If there is a need, sure. But don't buy for the sake of buying.

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Boon Peng

30 Dec 2022

I think it is worth to get big purchases by 2022 because we never know whether the companies will increase their prices along with the GST hike.

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Kent Toh

14 Dec 2022

Consultant at Sprinklr

Yes, it does seem like a marketing tactic. But its a fact. Saving 1% on $1000 is $10 which can buy you several coffee...

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Kz91

Edited 14 Dec 2022

No, of cuz not , every 1000 is only 1 dol , assuming big item is 10000 , it is only 100 . not worth it to save 100 and overspend. Assume item last 2 year , 100/24 is only less than 5 per month u are saving.

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Daniel Chua

14 Dec 2022

Digital Audio Visual Production (Nitec) at ITE

Lets be real. a 1% raise in GST is only 1,000 of cost for every 100,000 spend. Claim down. But yeah ...

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We are almost both 27yo. We currently have 26k savings, currently working (1 year in), saving 1.5k a month. Already tried balloting 4 times and failing to get a number. When should we go resale?

What is the correct strategy to pay for a big ticket item like the downpayment for a house or for kids? Should I go into a savings plan that ends just when I am planning to purchase it?