# data[].attributes.body
Include its definition, formula and examples.

# data[].attributes.body
Include its definition, formula and examples.

# data[].attributes.body
Include 2 different examples.

# data[].attributes.body
Who needs to pay Income Tax? How is income tax calculated?

# data[].attributes.body
Include the formula and example.

# data[].attributes.headline
Is there a way to help us remember Simple Interest Formula?

# data[].attributes.subject
Is there a way to help us remember Simple Interest Formula?

# data[].attributes.headline
How is GST calculated in a restaurant that charges service charge?

# data[].attributes.subject
How is GST calculated in a restaurant that charges service charge?

# data[].attributes.body
a discount is a deduction from the usual cost of something.

Imagine you want to buy a new jacket. The price of a jacket is $80, but there is a promotional discount of 25% being offered. Discount=List Price×(Discount Percentage/100) = 80×(25/100)=80×0.25=$20.

# data[].attributes.body
Installment- a sum of money due as one of several equal payments for something , spread over an agreed period of time

# data[].attributes.body
Definition-Goods and services Tax

Formula-GST formula:To add GST to a price, simply multiply the price of the item by the GST rate.

Example-The GST will add on the price by 9%.For example, if we want to find both the GST paid on a $100 product and the GST-exclusive price of a $100 product, use the following steps: $100 divided by 11 = $9.09. $9.09 is the GST. To find GST-exclusive price, multiply $9.09 by 10 which gives us $90.91.

Fun Fact:India has the highest GST charge💁🏿‍♂️💁🏿💁🏿‍♂️💁🏿

10 Rupee = 0.16 SGD

# data[].attributes.body
an initial payment made when something is bought on credit.
a part of the full price paid at the time of purchase or delivery with the remainder to be paid later.

# data[].attributes.body
How does GST work in Singapore.

Goods and services tax (gst) is a tax that is paid on goods or services consumed domestically, including imports.

Gst is a multi-stage tax that is collected at each stage of the production and distribution chain.

Output gst - the gst that a gst-registered business charges on its local supplies of goods and services. Output gst is is collected by the business on behalf of the government.

Input gst - the gst that a gst-registered business pays on its purchases of goods and services for business purposes.

# data[].attributes.body
Property Tax
Property tax is imposed on owners of properties based on the expected rental values of the properties.

# data[].attributes.body
GST, or Goods and Services Tax, is a consumption tax applied to most goods and services sold within a country. It's a multi-stage tax, meaning it's levied at each stage of production and distribution. The final consumer bears the burden, with the tax included in the product's price. Governments collect GST to fund public services. While it simplifies the tax system, the impact on consumers and businesses can vary based on the specific GST rates and regulations of a country.The country with the highest GST is Australia.

# data[].attributes.body
Down payment "it had taken their savings to make the down payment on a house”

Instalment "the first instalment of a grant for housing"

# data[].attributes.body
Economic development 13.1%

Social development 55.3%

Security and external relations 28.1%

Government administration 3.4%

Government operatiing revenue:

.income tax

.goods and services tax

.property tax

.corporate tax

.stamp duty

.gambling duties

.casino tax

.estate duty

Other taxes imposed by the government and administrated by other government agencies include:

customs, excise, and carbon taxes

Motor vehicle taxes

Vehicle quota premiums

Fees and charges(excluding vehicle quota premiums)

# data[].attributes.body
GST, or Goods and Services Tax, is an indirect tax imposed on the supply of goods and services. It is a multi-stage, destination-oriented tax imposed on every value addition, replacing multiple indirect taxes, including VAT, excise duty, service taxes, etc.

A taxable supply is one that is standard-rated or zero-rated. Standard-rated supply - GST is chargeable at 9%. Zero-rated supply - GST is applied at 0% for the transaction. A GST-registered person charges GST at 0% on his zero-rated supplies, but he can claim the GST paid on his purchases to make those supplies

The price of the product is increased by a specific percentage

# data[].attributes.body
A 20% discount is applied on a object that is $100 will bring the price down to $80

# data[].attributes.attachment_link.title
What is Discount Rate? | Learn with Finance Strategists | Under 3 Minutes

# data[].attributes.body
Income Tax
Income tax is chargeable on the income of individuals and companies.

Goods & Services Tax (GST)
GST is a tax on consumption. The tax is paid when money is spent on goods or services, including imports.

Property Tax
Property tax is imposed on owners of properties based on the expected rental values of the properties.

Stamp Duty '
This is imposed on commercial and legal documents relating to stock & shares and immovable property.

Gambling Duties
These are duties on betting, lotteries, sweepstakes, and gaming machines in any non-casino premises.

Casino Tax
The casino tax is a tax levied on the casinos’ gross gaming revenue.

Estate Duty (Removed for deaths occurring on or after 15 Feb 2008)
Estate duty is levied on the value of a deceased's net assets in excess of a threshold amount.

# data[].attributes.body
Define Simple interest:
Simple interest is a technique used to calculate the proportion of interest paid on sum over a set time period at a set rate.

# data[].attributes.body
Benjamin

Definition-Goods and services Tax

Formula-GST formula:To add GST to a price, simply multiply the price of the item by the GST rate.

Example-The GST will add on the price by 9%.For example, if we want to find both the GST paid on a $100 product and the GST-exclusive price of a $100 product, use the following steps: $100 divided by 11 = $9.09. $9.09 is the GST. To find GST-exclusive price, multiply $9.09 by 10 which gives us $90.91.

Fun Fact:India has the highest GST charge💁🏿‍♂️💁🏿💁🏿‍♂️💁🏿

10 Rupee = 0.16 SGD

👦🏿👦🏿👦🏿👦🏿👦🏿👦🏿👦🏿👦🏿👦🏿👦🏿👦🏿👦🏿👦🏿👦🏿👦🏿👦🏿👦🏿👦🏿👦🏿👦🏿👦🏿👦🏿

# data[].attributes.body
Benjamin

Definition-Goods and services Tax

Formula-GST formula:To add GST to a price, simply multiply the price of the item by the GST rate.

Example-The GST will add on the price by 9%.For example, if we want to find both the GST paid on a $100 product and the GST-exclusive price of a $100 product, use the following steps: $100 divided by 11 = $9.09. $9.09 is the GST. To find GST-exclusive price, multiply $9.09 by 10 which gives us $90.91.

Fun Fact:India has the highest GST charge💁🏿‍♂️💁🏿💁🏿‍♂️💁🏿

10 Rupee = 0.16 SGD👦🏿👦🏿👦🏿👦🏿👦🏿👦🏿👦🏿👦🏿👦🏿👦🏿👦🏿👦🏿👦🏿👦🏿👦🏿

# data[].attributes.body
Because since now GST is 9%, the restaurant will multiply the bill by 1.09. Service charge 10% and for both service charge and gst u have to multiply it by 1.199.

# data[].attributes.body
Property Tax. All properties in Singapore are subject to property tax. This includes vacant lots as well as HDB apartments, factories, warehouses.

Withholding Tax. Singapore imposes a tax on businesses that derive income from Singapore for services performed by Singapore.

The Multilateral Convention to Implement Tax Treaty Related Measures to Prevent BEPS (MLI), which updates Singapore's tax treaties

# data[].attributes.body
Benjamin

Definition-Goods and services Tax

Formula-GST formula:To add GST to a price, simply multiply the price of the item by the GST rate.

Example-The GST will add on the price by 9%.For example, if we want to find both the GST paid on a $100 product and the GST-exclusive price of a $100 product, use the following steps: $100 divided by 11 = $9.09. $9.09 is the GST. To find GST-exclusive price, multiply $9.09 by 10 which gives us $90.91.

Fun Fact:India has the highest GST charge💁🏿‍♂️💁🏿💁🏿‍♂️💁🏿

10 Rupee = 0.16 SGD

# data[].attributes.body
Reverse percentage is a way of working backwards on a percentage question to find the original price of the object.

# data[].attributes.body
https://m.youtube.com/watch?v=XSGdzJSO3sQ&pp=ygUYc2ltcGxlIGludGVyZXN0IG1lYW5pbmcg

# data[].attributes.body
Income tax is a type of tax governments impose on income generated by businesses and individuals within their jurisdiction. It is used to fund public services, pay government obligations, and provide goods for citizens. Income tax is calculated by Determining your gross income, then subtracting deductions, then calculate the adjusted gross income, apply tax rates, account for credits, calculate final tax liability ,consider pre payments and witholdings.Lastly, determine the amount due or refund. (cannot get into details as it is too long).

# data[].attributes.body
ways to remember simple interest: