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T&T Budget 2020 is on October 5th

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T&T Budget 2020 is on October 5th

Postby abducted » September 7th, 2020, 1:07 pm

October 5th 2020 is officially Budget Day, this is going to be a rough one

d50e7d47-dce0-4dee-acb6-4f4b036c09b2.jpg

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Re: T&T Budget 2020 is on October 5th

Postby Dave » September 7th, 2020, 1:14 pm

Industrial grease can't begin to cut it for this one!

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Re: T&T Budget 2020 is on October 5th

Postby shake d livin wake d dead » September 7th, 2020, 1:30 pm

Get the KY, vasoline, car oil and butter ready...

Any predictions?

Im looking at forex changes
Paye going up
Diesel could get touch
Pay cut for public servants

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Re: T&T Budget 2020 is on October 5th

Postby Dave » September 7th, 2020, 1:37 pm

I don't see forex and disposable income happening same time, one might be now and other mid year or next budget.

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Re: T&T Budget 2020 is on October 5th

Postby Rovin » September 7th, 2020, 1:54 pm

wais d ole tuner saying : prepareth thy angus ...




buh at d end of d day shout out : GR8 is d pee nm !

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Re: T&T Budget 2020 is on October 5th

Postby death365 » September 7th, 2020, 1:58 pm

right now there's shortage of chicken due to forex shortage... Folgers vanilla coffee mix is gone from all groceries shelves, some thing must be done bout it

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Re: T&T Budget 2020 is on October 5th

Postby K74T » September 7th, 2020, 2:18 pm

death365 wrote:right now there's shortage of chicken dye to forex shortage... Folgers vanilla coffee mix is gone from all groceries shelves, some thing must be done bout it
Thank God, that Folger's mix tasted like crap.

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Re: T&T Budget 2020 is on October 5th

Postby 88sins » September 7th, 2020, 2:37 pm

well, the people have chosen who they wanted. so if they get bent & shafted, that's what they wanted.

they cyah get vex, they bawl and cry, they jus hadda take the shaft & be glad they make "the right choice" to get shafted

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Re: T&T Budget 2020 is on October 5th

Postby death365 » September 7th, 2020, 2:56 pm

K74T wrote:
death365 wrote:right now there's shortage of chicken dye to forex shortage... Folgers vanilla coffee mix is gone from all groceries shelves, some thing must be done bout it
Thank God, that Folger's mix tasted like crap.


meh wife lives on that, every day she does drink a cup

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Re: T&T Budget 2020 is on October 5th

Postby agent007 » September 7th, 2020, 3:24 pm

I personally find the tolerance level of a certain dealership towards the Honda Vezel seems pretty high. Wondering if next month things would change? CNG must sell yunno...

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Re: T&T Budget 2020 is on October 5th

Postby Strugglerzinc » September 7th, 2020, 4:39 pm

They might impose/increase a few taxes that can be reduced in 2025.

Wonder how they going to say how much the previous government waste/squander/thief all the funds over the last 5 years. That'll be an awkward conversation.

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Re: T&T Budget 2020 is on October 5th

Postby neilsingh100 » September 7th, 2020, 6:12 pm

They trying to cut government expenditure by 10% and increase revenue by 10% through new taxes like property tax etc

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Re: T&T Budget 2020 is on October 5th

Postby Dohplaydat » September 7th, 2020, 6:13 pm

shake d livin wake d dead wrote:Get the KY, vasoline, car oil and butter ready...

Any predictions?

Im looking at forex changes
Paye going up
Diesel could get touch
Pay cut for public servants


Heard rumours of pay cuts too. 10% seems fair and with the rumoured increase in paye as well.

Do state enterprise fall under public servants?

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Re: T&T Budget 2020 is on October 5th

Postby goalpost » September 7th, 2020, 6:29 pm

Nah I dont think so.

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Re: T&T Budget 2020 is on October 5th

Postby goalpost » September 7th, 2020, 6:30 pm

It go be facking horrible if they cut ppl pay & in the same breath increase paye.

I don't think that gonna happen tho

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Re: T&T Budget 2020 is on October 5th

Postby shake d livin wake d dead » September 7th, 2020, 7:17 pm

One outa the 2....if is 2 in 2....take jam

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Re: T&T Budget 2020 is on October 5th

Postby 88sins » September 7th, 2020, 7:30 pm

goalpost wrote:It go be facking horrible if they cut ppl pay & in the same breath increase paye.

I don't think that gonna happen tho

Not likely to increase PAYE, but you see that $12K cushion? It could get removed. You see that nuisance tax they call OPT that those bastards implemented upon the instructions of the inbreeding clan? ? That could go up significantly. They done start. Lemme tell allyuh sumn.
PAYE, corporation tax, VAT, and many other sources of "revenue", substantially down. So right now is a scramble to find money.


To show allyuh how they want to take it anywhere they can get it.
Allyuh see that penalty for failing to wear a mask in public? Allyuh really feel that have anything to do with stemming the spread of covid? Is morney deze mc want. Which would be a bigger deterrent for a first offense. A $1000 fine that can potentially go up to a maximum of $250K, or guaranteed 1 month in jail with hard labor. It's obvious that the month with hard labor would serve as a stronger deterrent, but they eh go make no money doing that. And the priority is to make money, not study covid, cuz they realize long time now they can't stop it and it spreading and it here to stay. So the plan is this, charge people for not wearing a mask and make the money, and while covid spreads like wildfire you then have evidence to blame the public for its spread, citing the amount of people that were charged for failing to wear a mask as evidence is not their fault is yours.

Allyuh keep playing with them, see how it go work out.

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T&T Budget 2020 is on October 5th

Postby MaxPower » September 7th, 2020, 7:36 pm

Trinis,

Now come 5th Oct,

DO NOT blame PNM or UNC.

Blame yourselves as you are responsible for the state the country is in.

Whether PNM or UNC in power, it does NOT change allyuh mentality.

Remember, before the lockdown, you Trinis HAD the chance to be responsible....remember? Stay home? Do not congregate? Didnt the Govt ask and plea and beg over and over and over??? And what happened? Trinis did what they did best and that was to BE lawless and irresponsible causing the Govt to spend money to mine allyuh.

This is the reality, do NOT tote when you are told as is.

On budget day, make sure when allyuh bawling and crying that allyuh take a goooood look in the mirror and see who is the really responsible for the economy to be in this state.

Get ready for the pipe Trinis

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Re: T&T Budget 2020 is on October 5th

Postby neilsingh100 » September 7th, 2020, 7:48 pm

Salary cuts would be hard to do so most likely changes to PAYE.

Personal Income Tax rate may look like the following.

0-72k : Tax Free
72k - 160k: 25%
160k - 480k: 30%
> 480k : 35%

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Re: T&T Budget 2020 is on October 5th

Postby Dohplaydat » September 7th, 2020, 7:57 pm

neilsingh100 wrote:Salary cuts would be hard to do so most likely changes to PAYE.

Personal Income Tax rate may look like the following.

0-72k : Tax Free
72k - 160k: 25%
160k - 480k: 30%
> 480k : 35%


This is easier to swallow than salary cuts. But the private sector has cut salaries already many by 20%.

A private sector manager who was making 25k would have gotten a 20% cut and now a PAYE increase, double hit that's not fair.


Also heard VAT going back up to 15% .

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Re: T&T Budget 2020 is on October 5th

Postby 88sins » September 7th, 2020, 9:16 pm

0-72k : Tax Free More like 0-60K : 0%
72k - 160k: 25% 60-100K : 25%
160k - 480k: 30% 100-300K : 30%
> 480k : 35% >300 : 35%

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Re: T&T Budget 2020 is on October 5th

Postby bluefete » September 7th, 2020, 9:37 pm

Meanwhile in Guyana:

GUYANA NEWS
President announces $25,000 for each household in COVID relief


By Staff Editor September 7, 2020

President Irfaan Ali this afternoon announced a series of COVID-19 relief measures including $25,000 for each household.

He announced the removal of VAT from medical supplies and building and construction materials where VAT was imposed after 2014.

The ban on used tyres and importation of vehicles over eight years has now been reversed.

A 15,000 cash grant for school children from January 2020 was announced along with a doubling of the uniform school voucher allowance to four thousand dollars per child.

Two weeks of a tax-free bonus has been announced for the Joint Services and for health workers. $150M has also been set aside for front line health workers

The pension is to be raised to 25,000 per month from January 2020. The current figure is $20,000.

Government will set aside some $5 billion for the struggling sugar industry which will go directly to GuySuCo to reopen the closed sugar estates, create jobs and economically rejuvenate the suffering communities.

The Department of Public Information today released the full list of measures announced by the President:

See list below:

1. Reversal of VAT on electricity and water


2. Removal of VAT and duties on machinery and equipment for recapitilisation of key sectors such as mining, forestry, agriculture and manufacturing

3. Tax concessions for the mining, forestry, agriculture and manufacturing sectors

4. Reversal of land lease fees

5. Removal of VAT on fertilizers, pesticides, agro chemicals and key inputs in the poultry sector

6. Removal of VAT on all exports

7. Removal of VAT on Hinterland travel

8. Removal of VAT on all medical supplies

9. Removal of VAT building and construction materials imposed after 2014

10. Removal of VAT on mobile phones

11. Removal of Corporate Tax on private education

12. Removal of Corporate Tax on private healthcare

13. Mortgage Interest will become income tax deductible

14. Any license fee that was increased after 2014 will be reduced by 50 percent

15. Log Export policy changed to allow sawmillers to export logs

16. Reverse the policy to allow for the importation of used tyres

17. Reverse the policy to allow for the use of vehicles more than 8 years old

18. Reverse to policy to allow half cut vehicles over 8 years to be imported

19. Effective from January, 2021, $15,000 Cash grant for school children

20. The school uniform voucher allowance will be doubled to $4,000 per child

21. Effective from January, 2021, $25, 000 for old age pension

22. Reintroduction of CSO programme, $800M for Amerindian Development Fund

23. $5B budgetary support for GuySuCo directly

24. Revert to free water for pensioners

25. 2 weeks tax free bonus for the Joint Services

26. $150M set aside for frontline workers

27. $200M set aside to expand the Guyana Learning Channel

28. Implement a programme immediately that will see 25, 000 solar units being distributed in the Hinterland

29. Removing the requirement to register and take out road license for miners

30. Removing the requirement that prohibited miners from transporting fuel in their vehicles

31. Revert the poultry industry to zero rated VAT status

32. Incentives which will see land being made available to plant soya bean and corn for feed mills

33. New Farm to market access roads

34. Land and water charges will be reverted to the rates they were at the end of 2014

35. 50 new 4×4 vehicles for the Guyana Police Force

36. $1.5B for Hinterland urban and rural roads

37. New ferry for the North West with cold storage capacity

38. Suddie, New Amsterdam, Leonora, West Demerara and Diamond Hospitals will be upgraded

39. $25, 000 per Household for COVID-19 Relief

40. Special incentives for new hotels

41. Special incentives for communities considered vulnerable now

42. Liberalization of Telecoms sector

https://www.stabroeknews.com/2020/09/07 ... id-relief/

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Re: T&T Budget 2020 is on October 5th

Postby matr1x » September 7th, 2020, 9:58 pm

Keep them vene Pests coming in. Is we money being used to give them hampers.

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Re: T&T Budget 2020 is on October 5th

Postby goalpost » September 7th, 2020, 9:58 pm

Time to move to Guyana

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Re: T&T Budget 2020 is on October 5th

Postby abducted » September 7th, 2020, 10:01 pm

That's $800TT per household

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Re: T&T Budget 2020 is on October 5th

Postby maj. tom » September 7th, 2020, 10:06 pm

A lot of that is some backward nonsense though. WTF is this?

-The ban on used tyres and importation of vehicles over eight years has now been reversed.
-Tax concessions for the mining, forestry, agriculture and manufacturing sectors.
- Log Export policy changed to allow sawmillers to export logs.
-Incentives which will see land being made available to plant soya bean and corn for feed mills



They eh think through that enough. They giving citizens a sheit stick to hold and next 20 years they will suffer real bad. And the environmental damage will have far longer and more destructive consequences. They made a move opening up the Amazon rainforest to even more logging and destruction.


And $25k GYD is about $800 TTD eh.

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Re: T&T Budget 2020 is on October 5th

Postby Redress10 » September 7th, 2020, 10:11 pm

Left foot.....balisier

Right foot.....balisier

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Re: T&T Budget 2020 is on October 5th

Postby j.o.e » September 7th, 2020, 10:33 pm

88sins wrote:
goalpost wrote:It go be facking horrible if they cut ppl pay & in the same breath increase paye.

I don't think that gonna happen tho

Not likely to increase PAYE, but you see that $12K cushion? It could get removed. You see that nuisance tax they call OPT that those bastards implemented upon the instructions of the inbreeding clan? ? That could go up significantly. They done start. Lemme tell allyuh sumn.
PAYE, corporation tax, VAT, and many other sources of "revenue", substantially down. So right now is a scramble to find money.


To show allyuh how they want to take it anywhere they can get it.
Allyuh see that penalty for failing to wear a mask in public? Allyuh really feel that have anything to do with stemming the spread of covid? Is morney deze mc want. Which would be a bigger deterrent for a first offense. A $1000 fine that can potentially go up to a maximum of $250K, or guaranteed 1 month in jail with hard labor. It's obvious that the month with hard labor would serve as a stronger deterrent, but they eh go make no money doing that. And the priority is to make money, not study covid, cuz they realize long time now they can't stop it and it spreading and it here to stay. So the plan is this, charge people for not wearing a mask and make the money, and while covid spreads like wildfire you then have evidence to blame the public for its spread, citing the amount of people that were charged for failing to wear a mask as evidence is not their fault is yours.

Allyuh keep playing with them, see how it go work out.


See what you’re saying. Your maths doesn’t add up tho. No amount of fines will fix anything.
The reason for fines over jail is because of the administration required to get someone to jail. Plus they really don’t care to add more petty criminals to the jail system during covid. There’s a whole process to take in prisoners to control covid. Not worth the hassle

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Re: T&T Budget 2020 is on October 5th

Postby paid_influencer » September 7th, 2020, 10:34 pm

budget predictions-

- big talk about digitalization and e-everything, as a deux ex machina solution for the economy
- taxes removed on phones, 'digital equipment' etc, in keeping with the above deux ex machina
- higher taxes for the rest of the economy
- random low-value goodies (like led bulbs)

budget predictions not included in the budget speech

- banks cutting all USD credit card limits.
- No devaluation, but dollar resuming the 2017 'cent by cent' slide to stop at 7.2
- shortages across the economy in specialized goods, but foods and drink is plentiful
- job losses, deflation, general economic depression continues into 2021

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Re: T&T Budget 2020 is on October 5th

Postby ProtonPowder » September 7th, 2020, 10:52 pm

blame covid

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