Is The Harmonized Sales Tax A Harmful Tax Grab?
Kathy's post on this new tax grab received a comment on the benefits to some of the new HST
"Every manufacturer I know is very pleased with the HST. I also know some real estate brokers, including myself, who are pleased with certain aspects of the HST since it reduces their cost base on business expenses (although it increases the cost on non-recoverable HST)."
Interesting how some can see paying a different tax as a benifit because they can write it off ..... to bad they are only interested in themselves ..... not their consumers who they should be concerned with ..... while harmonization of existing taxes may not be a bad thing the new taxes are ..... the more tax a consumer pays the less they have to spend.
There is an old saying
money was made round to go round
If every time it goes around the tax man takes an ever increasing bite
it won't be long before it stops going around.
Is The Harmonized Sales Tax (HST) A Harmful Tax Grab?
REALTORS® are often asked how the new HST will affect the real estate transaction. When it comes to purchasing your new home there still seems to be some confusion as to what is taxable or how much more tax you will pay depending on when you purchased and when the deal closes.
You may surprised to find that we will be paying additional taxes on our heating and hydro bills starting July 1st.
In an attempt to put a positive spin on the New HST The Province claims about 83% of the goods and services we purchase will see no new tax ". While this sounds good it is only because most if not all are already double taxed and the new HST simply blends those taxes together.
That leaves about 17% of the goods and services we consume having an additional tax (grab) levied against them. Things like personal and professional services such as hairstyling, lawyers fees and real estate commissions as well as hydro and home heating fuel will all go up by 8% on July 1st
Here are just a few of the "little" things you will be paying 8% more for thanks to the HST.
Chart Information Obtained from the Ontario Ministry of Revenues web site,
you can download the full Provincial PDF version of the chart HERE.
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