For many, the 1% GST hike is dreadful.
But for that anomalous glass-half-full handful, they see it in a different light.
A Couple Reportedly Spent Over $9,000 Now to Save On GST Hike from 1 Jan 2023
As we all know, our prices next year will see a 1% increase. What does this mean?
You either shop in Malaysia or shop now.
One couple took the latter to the next level by spending close to five figures on big-ticket appliances.
When interviewed by Shin Min Daily News, Wang Xiumin (name transliterated from Chinese) said that she and her husband purchased these electrical appliances for their new house.
In other to save that 90 to 100 dollars, the couple bombed over $9,000 on household items.
The best part?
They haven’t even got the keys to their new condominium yet.
According to the lady, the combination of year-end sales and pre-tax-hike desperation makes for good deals and effective buys.
They’re Not Uncommon
If you thought they were the only ones, you’d be wrong.
Many are now rushing to buy pricy goods at good prices, purchasing things like refrigerators, televisions, and even washing machines.
According to Scanteak, a Singapore furniture retailer, many leverage this once-in-a-lifetime opportunity before it expires.
In a wise business decision, the store has allowed customers to collect their items up to six months after purchase, sending their business skyrocketing.
Also, it charges delivery fees according to 2022 pricing.
Besides Scanteak, Courts, the electronics and home appliance store has also offered the same six-month rule.
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Drawbacks of Purchasing Early
There are always two sides to a coin.
Obviously, purchasing your goods now can save you a buck or two, but what are the downsides of it?
Firstly, storage. By filling your house with miscellaneous items you don’t currently need, you might be giving yourself a bigger headache than an increased 1%.
From toe stubs to troublesome maneuvers, you name it.
Also, you might not even need some of the items! Understandably, our innate Singaporean “kiasu-ness” has kicked in.
Moving on, purchasing the appliances early means that your warranty expires earlier too. If you’re unlucky, this might come back to bite you.
Last but not least, the goods age faster. Linking to the first point, if you keep something in storage for long before you use it, you’d be degrading it in your home.
For example, if you purchase a chair this year but only use it next year in June. When you use it, it’s effectively six months old. Then what’s the difference between buying a good quality second-hand one?
So, even if you want to save that slim 1%, please be sensible.
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Featured Image: Serghei Starus / Shutterstock + Shin Min
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