sales tax: Buy and pay for furniture after April 1, 2013 - Sales tax decrease - 03/11/13 09:55 PM
Buy and pay for furniture after April 1, 2013 - Sales tax decrease
Are you looking to buy furniture for your home right now?  If you live in Prince Edward Island, you should consider waiting until April 1, 2013 to buy and pay for your furniture from your Prince Edward Island furniture store.
On April 1, 2013, the 5% GST and 10% PST are being replaced by the new 14% HST.
Since the 10% PST was charged on top of the 5% GST, you were effectively paying 10.5% PST for a total of 15.5% sales tax before April 1, 2013.  Afterwards, … (2 comments)

sales tax: Tax on real estate commissions to drop on April 1, 2013 - 03/11/13 09:38 PM
Tax on real estate commissions to drop on April 1, 2013
There is great news for home sellers in British Columbia.  Effective April 1, 2013, the 12% harmonized sales tax ("HST") is being eliminated.  It is being replaced by the 5% goods and services tax ("GST") and the 7% provincial sales tax ("PST").
5% GST will be charged on real estate commissions effective April 1, 2013.  PST is not charged on real estate commissions.  Between July 1, 2010 and March 31, 2013, 12% HST was charged on real estate commissions.
The tax savings can be significant.
Home buyers who are required … (2 comments)

sales tax: Quebec Sales Tax rate change and calculation change - January 1, 2013 - 01/01/13 04:27 AM
Quebec Sales Tax rate change and calculation change - January 1, 2013
On January 1, 2013, the method of calculating Quebec Sales Tax ("QST") changed.  Prior to January 1, 2013, QST was charged on top of the selling price AND GST (i.e. the QST was a tax on tax)  After December 31, 2012.  the QST is charged directly on the selling price before GST. 
At the same time, the Quebec government also increased the QST rate from 9.5% to 9.975%.  The amount of QST charged under the old calculation using the old 9.5% rate is the same as the amount of … (1 comments)

sales tax: Nova Scotia announces HST reductions in 2012 budget - 09/23/12 12:43 PM
Nova Scotia announces HST reductions in 2012 budget
The Nova Scotia government announced in its 2012 budget that the Harmonized Sales Tax ("HST") rate will be reduced from 15% to:
14% effective on July 1, 2014 13% effective on July 1, 2015 Consumers who are planning real estate purchases or other purchases may want to take into account these announced reduced rates when planning when to make purchases in Nova Scotia.
Nova Scotia announces HST reductions in 2012 budget
… (3 comments)

sales tax: La taxe de vente augmente de 1% sur Janvier 1, 2012 - 12/31/11 03:33 AM
La taxe de vente augmente de 1% sur Janvier 1, 2012 Le Janvier 1, 2012, la taxe de vente du Québec («TVQ») est en augmentation de 1% de 8,5% à 9,5%. La TVQ est perçue sur les marchandises haut de 5% l'impôt fédéral et services («TPS»). Par conséquent, l'augmentation de la TVQ en vigueur sera de 1,05%. Un exemple de calcul de la TVQ: Prix ​​de vente 100,00 $ TPS (100 $ x 5%) 5,00 $ Sous-total 105,00 $ TVQ (105 $ x 9,5%) 9,98 $ Total des 114,98 $ L'augmentation des taux de la TVQ a été annoncé en Mars … (1 comments)

sales tax: Sales tax increases by 1% on January 1, 2012 - 12/31/11 03:32 AM
Sales tax increases by 1% on January 1, 2012
On January 1, 2012, the Quebec Sales Tax ("QST") is increasing 1% from 8.5% to 9.5%.  The QST is charged on top of the 5% federal Goods and Services Tax ("GST").  Therefore, the effective QST increase will be 1.05%.
A sample calculation of the QST:
The QST rate increase was announced in the March 30, 2010 Quebec budget.
Sales tax increases by 1% on January 1, 2012
… (0 comments)

sales tax: Sales Tax Rates Across Canada - Effective January 1, 2012 - 11/27/11 12:59 PM
Sales Tax Rates Across Canada - Effective January 1, 2012
The chart below shows the sales tax rates that will be in effect in Canada as of January 1, 2012.  Note that sales tax rates are subject to change in the future.
GST = Goods and Services Tax
HST = Harmonized and Services Tax
QST = Quebec Sales Tax
PST = Provincial Sales Tax
NOTE 1: The Québec Sales Tax increased from 8.5% to 9.5% effective January 1, 2012.
NOTE 2: QST is applied on the total of the selling price PLUS GST. Thus, it is a tax on tax.
NOTE … (0 comments)

sales tax: Sales Tax Rates Across Canada - Effective July 1, 2010 - 07/01/10 04:36 PM
Sales Tax Rates Across Canada - Effective July 1, 2010
On July 1, 2010, several changes were made to sales tax systems and sales tax rates in several Canadian provinces.  The chart below shows the sales tax rates in effect as of July 1, 2010.  Note that sales tax rates are subject to change in the future.
GST = Goods and Services Tax
HST = Harmonized and Services Tax
QST = Quebec Sales Tax
PST = Provincial Sales Tax
NOTE 1: The Québec government has announced that the QST rate will increase from 7.5% to 8.5% effective January 1, 2011 and … (10 comments)