Watch this video
http://www.youtube.com/watch?v=wiFYJIeAS3s
Monday, April 4, 2011
Unfair transactions
Consumers have to be careful about unfair terms placed in contracts
http://thestar.com.my/columnists/story.asp?file=/2011/4/5/columnists/articlesoflaw/8389000&sec=articlesoflaw
http://thestar.com.my/columnists/story.asp?file=/2011/4/5/columnists/articlesoflaw/8389000&sec=articlesoflaw
Customer service at call center
I call the call center of an airline in Singapore. I was put on hold for more than 15 minutes. I gave up waiting - as I do not know how long more I have to wait.
When I was in Cambodia, I call the hotline of a mobile operator. The automated message said, "You are now the 6th caller on the queue. As this message gets repeated, the number keeps dropping. I was answered within a few minutes. We have to learn from Cambodia about the use of technology and customer service.
When I was in Cambodia, I call the hotline of a mobile operator. The automated message said, "You are now the 6th caller on the queue. As this message gets repeated, the number keeps dropping. I was answered within a few minutes. We have to learn from Cambodia about the use of technology and customer service.
Extremely high salaries and brain drain
In my article on "extremely high earnings", I described the damage caused to working class families by the extremely high fees charged by medical specialists and lawyers. The level of fees are so high as to be unconscionable, and they do not even assure the clients of success.
There are two ways to controlled these high fees - by imposing control over the fees or by levying a high rate of tax on these incomes. I prefer a high rate of tax, as it is easier to handle rather than levying price controls over all types of professional services.
Some people said that there is a risk of brain drain, i.e. the talented people will go to other countries. This is the argument given by proponents of the low tax and the free market. There is a flaw in this argument - as the high tax is intended to be levied on income derived within the country. How is the brain drain going to occur?
There could be a brain drain in respect of medical specialists treating rich foreigners in Singapore, as the experts can practice in other countries. We have to weigh the economic benefits of treating foreign patients in Singapore with the high fees that are being paid by our locals for these medical services. Looking at the high cost of living and services in Singapore, I prefer that to avoid earning the money from foreigners and to keep the cost of health care at an affordable level.
If we can collect more tax on high incomes, we can do away with GST (goods and services tax) entirely, and not just on essential necessities. Besides being a burden on low income people the GST is a wasteful tax, as it imposes a heavy burden and administrative expenses on businesses to collect the tax, and adds to the overall cost.of doing business.
Tan Kin Lian
There are two ways to controlled these high fees - by imposing control over the fees or by levying a high rate of tax on these incomes. I prefer a high rate of tax, as it is easier to handle rather than levying price controls over all types of professional services.
Some people said that there is a risk of brain drain, i.e. the talented people will go to other countries. This is the argument given by proponents of the low tax and the free market. There is a flaw in this argument - as the high tax is intended to be levied on income derived within the country. How is the brain drain going to occur?
There could be a brain drain in respect of medical specialists treating rich foreigners in Singapore, as the experts can practice in other countries. We have to weigh the economic benefits of treating foreign patients in Singapore with the high fees that are being paid by our locals for these medical services. Looking at the high cost of living and services in Singapore, I prefer that to avoid earning the money from foreigners and to keep the cost of health care at an affordable level.
If we can collect more tax on high incomes, we can do away with GST (goods and services tax) entirely, and not just on essential necessities. Besides being a burden on low income people the GST is a wasteful tax, as it imposes a heavy burden and administrative expenses on businesses to collect the tax, and adds to the overall cost.of doing business.
Tan Kin Lian
Financial Savvy Test #15
Take a test of your financial knowledge by answering the questions below. You can find the answer from www.tankinlian.com/information.aspx - type in the keyword to search for the relevant FAQ
1. How can I watch the videos of Suzy Orman on life insurance? Keyword: Suzy
2. What is the indisputability clause in life insurance? Keyword: indisputability
1. How can I watch the videos of Suzy Orman on life insurance? Keyword: Suzy
2. What is the indisputability clause in life insurance? Keyword: indisputability
Street Wise
I wanted to use the word "street wise" to describe a person who is alert and knows what is happening around him. I searched Google images, and found many images that shows "street wise" to reflect a person who is alert and able to avoid crimes around bad neighborhood. It seems that "street wise" means to know which streets are safe and which are dangerous.
Apply for Visa to Australia
I am visiting Australia and was told that I had to apply for a visa.
I searched online for "Apply Visa to Australia" and found a link to a website. I was surprised that it was so easy to apply online for this visa. This website was easy to use - unlike many websites of large government agencies and corporations.
I decided to search for "Apply Visa to Singapore" and found a link to this website. It was complicated to use - reflecting the convoluted process that is quite common in Singapore. I am reviewing it from the perspective of a foreigner wishing to check if a visa is needed to visit Singapore.
We need to adopt a simple approach and handle the complexity internally, instead of pushing the complexity to the public.
Tan Kin Lian
I searched online for "Apply Visa to Australia" and found a link to a website. I was surprised that it was so easy to apply online for this visa. This website was easy to use - unlike many websites of large government agencies and corporations.
I decided to search for "Apply Visa to Singapore" and found a link to this website. It was complicated to use - reflecting the convoluted process that is quite common in Singapore. I am reviewing it from the perspective of a foreigner wishing to check if a visa is needed to visit Singapore.
We need to adopt a simple approach and handle the complexity internally, instead of pushing the complexity to the public.
Tan Kin Lian
Post office and financial product
The post office is not the right place to sell a complex financial product.
Read here.
Read here.
Houses For Sale In Ireland | BusinessAndLegal.ie
Purchasing second hand properties
Terry Gorry & Co. solicitors will
- Inspect the title to the property and ensure that it is in order
- Carry out searches against the property, the vendors and you as the purchasers to ensure that there are no outstanding judgments or claims on the property or issues likely to crop up to cause a hitch
For your part as the purchaser you will need to ensure that you have written loan approval before signing contracts and that you have a surveyor or engineer carry out a full survey of the property to check for any structural defects or other problems.(This is part of the property purchases and sales series on this site)
If this is not done then when you sign the contracts it will be deemed in law that you were aware of any problems before signing and even if these problems become apparent later on.
You engineer’s survey should also be helpful in relation to any extensions, alterations or conversions that may have been carried out on the property which may have planning implications. If this is the case then proper planning documentation will need to be supplied by the vendor’s solicitor with the title deeds.
You might also check with the local Gardai who may let you know about any social/crime problems in the area which you might not be aware of.
Generally you will need to pay 10% of the purchase price as a deposit on signing the contract to buy. It is advisable at this stage to insure the property as once you have signed the contract you are committed to completing and should the house go on fire in the meantime you could face a severe financial loss.
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