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.