Understanding the SST Increase: Impact on Your Wallet

While the government assures a minimal impactfrom the 2% SST hike, here's why some everyday items might see a rise:

Indirect Impact: Restaurants and food vendors might raise prices to cover their own increased costs from taxable services (e.g., delivery fees, utilities).

Market Adjustments: Businesses may use the SST increase as an opportunity to adjust pricing for various reasons. Not all basic necessities are affected by the SST hike. But a ripple effect can still cause price adjustments in unexpected places.

But don’t fret! Our accounting services can help you understand the financial impact on your business and develop strategies to optimise costs.

Contact us today for a free quote!