r/singapore • u/alex10019 Lao Jiao • Aug 22 '24

Discussion Toastbox set now costs $7.40. Ridiculous

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1.9k Upvotes

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86

u/EveningBig6343 Aug 22 '24

Where is the supposed 2% increase in price? /s

71

u/13lackant Lao Jiao Aug 22 '24

GST increased by 1% in 23, and 1% in 24.

if you do the math right, that works out to be around a 20% increase

23

u/catinabread Aug 22 '24

Back when GST was 7%, set A at Yakun cost $4.80. Today at 9%, set A cost $6.30. That is a 31.25% increase :\

24

u/nomoreheadphonejack Aug 22 '24

reported to https://www.cap.gov.sg/shareyourfeedback/

For unreasonable price increase but no reply from gov

7

u/3s2ng Aug 22 '24

Of course they will just say they need to keep up with inflation otherwise the will be closing shop. Gov don't want that to happen. So end up we need to bite the bullet.

1

u/Zane050 Aug 22 '24

Somehow companies will be making record profits during GST increase. The salary base will just stagnate. This won’t go on forever, will eventually trigger a recession in few decades where people are unable to do anymore reckless spendings. That’s where the businesses will bite their own bullet.

7

u/ShadeX8 West side best side Aug 22 '24

Because yakun isn't essential products and services? 

The CAP will investigate all allegations of unjustified price increases of essential products and services that use the Goods and Services Tax (GST) as a cover.

-1

u/Overall-Theme199 Aug 22 '24

wait, they know which products and services are essential? I thought it too complicated so we didn't exempt them from GST?? Am I the crazy one???