The implementation of GST effectively means that we’ve all taken a 6% cut to our paychecks. It’s actually slightly more than that, but for the sake of argument, let’s put it at 6%. Your purchasing power is also down by 6% so you’ve either got to tighten your belts or find an alternate source of income.
Just think about it, everyone in Malaysia got a 6% salary cut effective April 2015.
I prefer to be more proactive so I’m not thinking of ways to cut down on my consumption and lifestyle BUT to find new sources of income to negate the 6% cut in my salary. I’m even thinking about *overcoming* it e.g. get more than 6% so that the my net earnings are actually MORE post GST.
This means that I have to do something, and I decided to start up a new company to earn active income to supplement my current income.
I’ve seen people take various steps post GST to increase their income.
This is just one of them. It’s not that hard to register a new company, you just need to take some (archaic) steps in my case – different councils will have different procedures but mine involves getting a chop (stamp) before you can take the official form.
The official form is a huge piece of paper that looks like it belongs in the 1980’s (probably was from then) and it specifically states that it must be filled using a typewriting. It can’t be filled by hand or by computer and no one I knew even owns a typewriter anymore (not even two large companies I asked) so I engaged the services of a shop in town that specializes in this kind of thing.
It was RM 10 to type up the document but it’s worth the money I spent coz now I have a new company to engage in various specialized writing and creative services.
It’s called Pulse Consulting and it does everything you think it does, and more.
That’s my unofficial tagline anyway.
Seriously, though, if you want to ask me what I do, just email me.
However, there’s still many other ways to combat post-GST income stresses – one of them is through property investment. But property prices in Malaysia can be very high, so why not invest in property overseas! There’s one coming up that I think is rather promising. It’s located in the resort island of Phuket!
I’ve been to Phuket many times and hotels there can be quite expensive – if you calculate a night’s stay in Outrigger Laguna Phuket Beach Resort or Club Med Phuket you’ll find that owning your own property can be cheaper in the long run, especially if you get benefits like golf, spa and boating benefits in Phuket.
Plus, this particular one offers 7% Rental Guarantee for the first year so you won’t have to worry about finding your own!
dCondo Mine is a fully furnished freehold condominium by Sansiri, one of Thailand’s leading property developers.
The best part is the price, it starts from – wait for it – RM 250,000 with 50% deferred payment. That’s affordable even for first time property buyers and I’m really keen to find out more about this luxurious lifestyle investment opportunity. You should check it out if you’re interested in expanding or diversifying your investment portfolio with a Phuket based condominium. The property showcase organised by Golden Emperor, a Hong Kong based company will be held:
Venue: Level 4, Starhill 5, JW Marriott KL
Date: 9-10 May 2015
Time: 12-2 pm (English), 2-4 pm (Chinese)
Seats are limited so hurry, RSVP in the form below and start investing overseas now to supplement your income post GST! It’s such an exciting opportunity that I’ll turn up just to see what it’s all about.
You can also check out the Golden Emperor website for more information.
13 thoughts on “How I save myself from GST – by starting a new company!”
I see… Increase your income to cope with the “loss” as a result of the tax. That’s good. And yes, property is always a good investment – it will surely go up, never down.
Yup, it’s always good to diversify. 🙂
Property is a great investment, I’ve always been trying to get into overseas properties but the price of entry is usually very high.
This is an affordable one and I’m looking forward to finding out more at the seminar.
Not a bad idea on investing overseas. That is if we can find a trustworthy company to handle it
Yeah, Sanskrit is one of Thailand’s leading developers. 🙂
I’m keen to go to the seminar to see the investment opportunities. RM 125,000 is a very reasonable entry barrier.
Wow! Look like a right time to invest in overseas properties. Good luck in your new company.
Thanks Rose! 🙂
Yup, it’s a very good time to invest in the overseas properties market – diversified portfolio and all that.
wow… I like this post. Well, I am also searching for some other streams of income including MLM but I didn’t do too well. I’m also curious what are you investing in ….and it looks like properties to me…hahah… I email you soon.
Aiyo..why so terrible one the form… how to find those dino typewriters nowadays???
You can come to the seminar this weekend if you’re free. 🙂
It’s good to have a diversified portfolio, and I don’t have any overseas properties. It’ll be s good hedge just in case anything happens domestically, and even if it doesn’t, it’s still sound investment practices.
Yeah, I registered my company in Sibu so there’s a lot of archaic laws.
Wow. All the best in your new company.
Thanks Merryn! 🙂
I just started Pulse Consulting, hope good things happen in the future.
Setting up new company, nice.. Wish you all the best, and money keeps coming in.. Good to invest in properties in overseas, plus it’s not very expensive..
Thanks for the well wishes! 🙂
It’s my start up to deal with branding, PR and other social media projects.
Yeah, this one looks like a great opportunity – RM 125,000 for a property in Phuket.
Congratulation on having new company.
Wao. People still using typewriter these days?! Luckily in Kuching, you can hand written that big piece of form.