I don't understand the term harmonization. On one hand, Duncan says that the province won't get anything extra, but the items that were being charged 5% tax are now taxed 13%. Where is this extra money going? Feds?
The reason for harmonizing the taxes is to eliminate paperwork and red tape. So, why does the govt want to increase the taxes?
Items that were charged GST can still be charged the same. HST = 5%
Items that were charged GST and PST can have a combined levy of 13% and filed federally.
This is a really sad excuse for raising taxes. Furthermore, the $1000 is a one-time payment which does not do anything to compensate for the direct and indirect increases in prices of essentials, especially heating and hydro. Gas prices will go up, even food prices will go up.
Dalton has lied again and again and yet, the voters seem to vote him in. In 2007, Ontarians had to decide between a proven liar and John Tory who wanted to introduce funding for religious schools. And they decided to go for the liar. So, I guess we have to pay for it.
I really hope the Liberals lose by a stunning margin in 2011 so that they get the message.
Also, am I correct in assuming that this budget will pass without changes as the Liberals have a majority?
Quote:
Originally posted by ash_canada
I don't understand the term harmonization. On one hand, Duncan says that the province won't get anything extra, but the items that were being charged 5% tax are now taxed 13%. Where is this extra money going? Feds?
The reason for harmonizing the taxes is to eliminate paperwork and red tape. So, why does the govt want to increase the taxes?
Items that were charged GST can still be charged the same. HST = 5%
Items that were charged GST and PST can have a combined levy of 13% and filed federally.
Net effect of harmonization will be a shift of burden from Business to consumers..
So far business were entitled to claim 5% GST back as Input tax credit (ITC). With the Harmonization, they will be able to claim whole 13% back as ITC.... in effect paying no sales tax....... good for all small business owners on this forum !!!
Bad for consumers... goods and services which invoke GST but are PST exempt now, will be taxed at 13% after harmonization.... some items have specifically been exempted ....
-----------------------------------------------------------------
Vik
Ash, you are absolutely right. The budget will pass since Libs have astounding majority. I have written to my MPP (of indian origin) that they will not get my support in next elections unless they stand-up and vote against it. Most MPs would lose either way....either in election later or if they standup against it, they may have to sit as an independent. With the later choice thay may still win as an independent for standing for their constituents.
When they harmonized taxes in the Maritimes, their PST dropped from 11% to 8% and even then, their cost of living has gone up. Besides, it has done noting to attract investments there. ONT has still attracted more investments compared to those provinces. BC & AB are also against harmonization (whereas AB does not have any PST).
To establish business, businesses consider availability of resources, manpower, proximity to markets, export facilities etc. If "standalone" PST was a problem with the businesses, how come ONT became country's economic engine? Businesses must be gaining something here that offset "PST management" costs.
Dalton is bribing Ontarions with thier own money.
-----------------------------------------------------------------
Rajeev Narula, Broker, REALTOR®
ACE TEAM REALTY INC., Brokerage
10 Kingsbridge Garden Circle, Suite 704
(Opp Square One - HWY10/403)
Mississauga, ON L5R 3K6
Bus: 1-888-355-3155 Ext. 300
Fax: 1-888-443-3155
Email:
Web: http://www.RAJEEV.ca" rel="nofollow">LINK
COMING SOON.....
Did you know that Ontarions will soon have to get mandatory energy audits costing them about 500 and then spend to carry out the recommendations?
They will have to do this everytime they want to sell a home. There are no standards established for these audits yet, nor any set of established guidelines, educational requirements for the auditors...????
More details to follow...
-----------------------------------------------------------------
Rajeev Narula, Broker, REALTOR®
ACE TEAM REALTY INC., Brokerage
10 Kingsbridge Garden Circle, Suite 704
(Opp Square One - HWY10/403)
Mississauga, ON L5R 3K6
Bus: 1-888-355-3155 Ext. 300
Fax: 1-888-443-3155
Email:
Web: http://www.RAJEEV.ca" rel="nofollow">LINK
Location: God's own country
Posted on: 27-03-09 13:49:49
Yup.
It is time to leave the province (for another province) or go back to Desi land if Ontario is oppressive in taxes.
Peace by TK
-----------------------------------------------------------------
I am a Gents and not a Ladies.
Welcome to Alberta. We still are having lowest tax in country (no pst). Let see how long we can go like that. But finding job these days are not easy here too.
Quote:
Originally posted by tamilkuravan
Yup.
It is time to leave the province (for another province) or go back to Desi land if Ontario is oppressive in taxes.
Peace by TK
Welcome to Alberta!
We do not have PST but you pay more for everything!!! Plus there are no more jobs - atleast not the one you are looking for i.e. "VERY less work, high pay"
Quote:
Originally posted by tamilkuravan
Yup.
It is time to leave the province (for another province) or go back to Desi land if Ontario is oppressive in taxes.
Peace by TK
