I still don't know why GST is good for me. Other than adding on the cost of the purchase, what good does it give me? Btw, GST is enforced by Ministry of Domestic Trade, Cooperatives and consumerism.
I attended a seminar on GST conducted by a tax agent recently. As I am doing some trading business, I am made to be aware of the additional working capital to run my business. Apart from that, it is very important to keep track of the GST incurred in buying from suppliers and selling to customers. Otherwise, penalty, penalty, penalty!
Since my business incurs credit terms, my customers can sometimes pay me after 3 months or 4 months. For business sales volume of less than RM5 mil, I have to submit the GST (6%) of the sales amount in 3 months. That means to say that I have to come out with working capital to cover the GST even if customers do not pay me. The penalty of late submission is cumulative.
The zero rated supplies are live cattle, sheep, goats, ducts, fish, etc, eggs, potatoes, carrots and other vegetable, rice, wheat, flour, palm oil, etc, goods supplied to Langkawi, Labuan & Tioman, supply of treated water and 200 units of electricity for a month, education and childcare services, and exports are also zero rated.
Friday 29 November 2013
Wednesday 20 November 2013
Exercise For 50+
Time to get the proper regular exercise for both of us. 52th birthday is a few days away, and my hubby is 53+. I am concerned about my knee joints pain when I walk downstairs and general weakening of muscles, while my hubby puts on many weights after his hernia repair in Feb.
Jogging hurts my feet. What is best for us then? We decided to join Fitness Core by engaging a Professional Trainer thinking that the trainer should be able to design a program for me and my hubby to strengthen our muscles to reduce joint pain and back pain. It costs us on average RM100 per session. Each session is less than an hour. We don't use the machine much. So far we have only used the elliptical step machine and run on the treadmill. Other than paying the "Professional Trainer", we need to pay for membership to use the facility in Fitness Core. RM250p/m or RM540quarterly. Adding up it is quite a sum of money! After much consideration, we decided to stop the membership because we don't need to use the facility.
It was a coincidence that on the last time after doing our exercise in Fitness Core, we met a few friends in Lintas coffee shop. These few friends just had their thrice weekly exercise which use kettlebells and other exercises that are suitable for 50+....people who can't jump or run like the young days.
Jogging hurts my feet. What is best for us then? We decided to join Fitness Core by engaging a Professional Trainer thinking that the trainer should be able to design a program for me and my hubby to strengthen our muscles to reduce joint pain and back pain. It costs us on average RM100 per session. Each session is less than an hour. We don't use the machine much. So far we have only used the elliptical step machine and run on the treadmill. Other than paying the "Professional Trainer", we need to pay for membership to use the facility in Fitness Core. RM250p/m or RM540quarterly. Adding up it is quite a sum of money! After much consideration, we decided to stop the membership because we don't need to use the facility.
It was a coincidence that on the last time after doing our exercise in Fitness Core, we met a few friends in Lintas coffee shop. These few friends just had their thrice weekly exercise which use kettlebells and other exercises that are suitable for 50+....people who can't jump or run like the young days.
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