I keep hearing about an .80 cent dollar to help out the manufactures, how about during all those 62 to 64 cent years they invest in their companies and modernize in order to compete at par..... oh to late
Hst
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many companies made big bucks when the buck was low, Americans came and bought many things, tourism was booming, macufactoring ect. Well I can say when were close to par it doesn't make me travel south!!! Canadians have a higher standard of living then Amereicans
That is a load of bull.
Time for Business 101 for you.
Once again, I repeat, every company that I ever worked for had a PST exemption certificate that had to be used when buying items that were destined to be used in our products. The END USER is the only one who should be paying PST on the item. My brother and others I know who have had a personal business for many years have a PST exemption certificate that they muse when buying supplies for their businesses.
John: I think you missed the post that explained that COMPANIES DO NOT PAY PST ON PURCHASED ITEMS FOR INCORPORATION INTO PRODUCTS FOR RESALE. They are exempt. Only the end user pays PST.
The thing about this HST is: It wont' help anybody except the government. If anyone thinks it will benefit them, they are delusional.
If the government, haha IF lol, needs more money, then they should cut staff, benefits, ridiculous pensions for person who served 2 terms, etc. Just like any other corporation in the WORLD.
In case anyone who owns a condo missed this, YOUR MAINTENANCE costs are about to go up 8%...that is on TOP of whatever your board increases it to maintain their reserve fund/budget.
Looking at the posts on this thread, I really don't understand where the Terb thinkers are coming from. When the HST is introduced, the tax on services will go up fom 5% to 13%.
Let me repeat that statement: THE TAX ON SERVICES WILL GO UP FROM 5% TO 13%!
Why don't our good Terb posters see that that is the BIG DEAL? Why are we bothering with pettifogging irrelevancies like which collection system is more efficient and whether some retailers might be motivated to pass on tax savings?
THE TAX ON SERVICES WILL GO UP FROM 5% TO 13%!
We are becoming, more and more, a service economy. Any service for which you now pay 5% GST, you will have to pay 13% HST. Look at the bills you pay now -- how many of them attract GST but not PST? Those are the bills that will be affected. It could be as much as half the bills you pay, depending what you spend your money on.
The government must be laughing heartily, that they've got us arguing about things like collection efficiencies.
Let me repeat that statement: THE TAX ON SERVICES WILL GO UP FROM 5% TO 13%!
Why don't our good Terb posters see that that is the BIG DEAL? Why are we bothering with pettifogging irrelevancies like which collection system is more efficient and whether some retailers might be motivated to pass on tax savings?
THE TAX ON SERVICES WILL GO UP FROM 5% TO 13%!
We are becoming, more and more, a service economy. Any service for which you now pay 5% GST, you will have to pay 13% HST. Look at the bills you pay now -- how many of them attract GST but not PST? Those are the bills that will be affected. It could be as much as half the bills you pay, depending what you spend your money on.
The government must be laughing heartily, that they've got us arguing about things like collection efficiencies.
I still don't understand how this HST thing got passed the the face of many objections. Is someone dropping the ball somewhere or is everyone an in-the-closet supporter of mc guinty and his socialist BS?
The Bad Side of Majorities.
*Any* majority government in *any* province or federally can pass *any* law it pleases because it has a majority of votes in its applicable parliament. Period.
It doesn't matter if every last citizen, as well as every last opposition MP of Canada or that province is dead-set against the law, it will get passed, simply because the majority government cannot lose a vote in the parliament. I've heard some of my clients refer to majority governments as 4-year Canadian dictatorships, and it's true - they can do whatever they damn well please until the next election rolls around.
I went and looked up some history on the GST, and look what I found. Brian Mulroney, who I frankly don't remember (I'm only 23) but I'm told was hated back in the 80s and early 90s, introduced the GST in 1989 even though just about everyone in Canada was against it. Why? Him and his Conservatives in Ottawa had a majority government and rammed it through the House of Commons. And when the Liberals, who held a majority in the Senate, tried to block it, Mulroney went and used a little-known and never-before-used clause buried in the constitution somewhere arbitrarily to appoint 8 more Senators so that his Conservatives would have a majority in the Senate too, and then they rammed it through there as well.
It's the same today. The provincial Liberals with McGillicutty, MsSquinty (or whatever his name is) have a majority. So they're ramming through this HST thing, in spite of everyone being against it. I swear, majority governments just love ramming things through, especially if the people are against it. There's an escorting joke in there somewhere, I just know it, but I'm too tired to find it and make it right now, lol.
The people don't have to be supporters of any leader or his party for bad laws to come about. The term we need to remember here is majority government.
*Any* majority government in *any* province or federally can pass *any* law it pleases because it has a majority of votes in its applicable parliament. Period.
It doesn't matter if every last citizen, as well as every last opposition MP of Canada or that province is dead-set against the law, it will get passed, simply because the majority government cannot lose a vote in the parliament. I've heard some of my clients refer to majority governments as 4-year Canadian dictatorships, and it's true - they can do whatever they damn well please until the next election rolls around.
I went and looked up some history on the GST, and look what I found. Brian Mulroney, who I frankly don't remember (I'm only 23) but I'm told was hated back in the 80s and early 90s, introduced the GST in 1989 even though just about everyone in Canada was against it. Why? Him and his Conservatives in Ottawa had a majority government and rammed it through the House of Commons. And when the Liberals, who held a majority in the Senate, tried to block it, Mulroney went and used a little-known and never-before-used clause buried in the constitution somewhere arbitrarily to appoint 8 more Senators so that his Conservatives would have a majority in the Senate too, and then they rammed it through there as well.
It's the same today. The provincial Liberals with McGillicutty, MsSquinty (or whatever his name is) have a majority. So they're ramming through this HST thing, in spite of everyone being against it. I swear, majority governments just love ramming things through, especially if the people are against it. There's an escorting joke in there somewhere, I just know it, but I'm too tired to find it and make it right now, lol.
revenue neutral??
The HST is probably revenue neutral. That is a term governments use when they are not collecting more tax just shifting it to someone else. People who buy gas or heat their homes, etc. Business gets tax breaks...again. We pay, again.
Don't worry about this being some socialist scourge. It's right from the Conservative playbook. Let business do whatever they want and tax everybody else. It's called trickle down economics. A nefarious theory at best, proven wrong, and yet still popular with the right wing set. If the rich get rich enough they just might create a job. Don't hold your breath waiting for that job.
The HST is probably revenue neutral. That is a term governments use when they are not collecting more tax just shifting it to someone else. People who buy gas or heat their homes, etc. Business gets tax breaks...again. We pay, again.
Don't worry about this being some socialist scourge. It's right from the Conservative playbook. Let business do whatever they want and tax everybody else. It's called trickle down economics. A nefarious theory at best, proven wrong, and yet still popular with the right wing set. If the rich get rich enough they just might create a job. Don't hold your breath waiting for that job.
Actually, this doesn't benefit businesses one bit. It hurts them. It doesn't save them money by simplifying anything, this is only a simple upgrade to software. You push a button the software tells you how much tax to pay.
There is NO cost savings whatsoever to businesses. In fact, most businesses have a service dept and that service dept will be hurt by this tax due to the increase in cost to the end users (customers).
This "revenue neutral" term is a load of crap. We're supposed to realize a cost savings via a reduction in our income taxes but I have yet to ever see it. Sure, I get about $400.00 a year back in GST repayments but I pay a shit load more than that in taxes (at time of purchase and in income taxes).
For eg: you pay $400.00 for condo maintenance. Plus currect gst of 5%, that totals $420.00. With the HST in place, the taxes will total $52.00 a month. That's a total of $452.00 x 12 months $5424. That's $384.00 a year more.
There is NO cost savings whatsoever to businesses. In fact, most businesses have a service dept and that service dept will be hurt by this tax due to the increase in cost to the end users (customers).
This "revenue neutral" term is a load of crap. We're supposed to realize a cost savings via a reduction in our income taxes but I have yet to ever see it. Sure, I get about $400.00 a year back in GST repayments but I pay a shit load more than that in taxes (at time of purchase and in income taxes).
For eg: you pay $400.00 for condo maintenance. Plus currect gst of 5%, that totals $420.00. With the HST in place, the taxes will total $52.00 a month. That's a total of $452.00 x 12 months $5424. That's $384.00 a year more.
Not that I was a fan of the GST, I would like to point out that it was in the conservative promise for the election prior to its introduction. Most people don't know this because Free Trade was the big issue at the time. This HST was sprung in the middle of a term with no warning.
The HST is probably Revenue Neutral? Are you mad?
The HST increases the tax on services from 5% to 13%.
You could be spending half your money on services, now taxed at 5%. (Assuming, of course, that all service providers actually charge GST.)
Excuse me, but I don't call that "neutral". I'm not that far from calling it thieving.
The HST doesn't benefit businesses? You've said a mouthful there. If you are in a service business, which now charges GST but not PST, you will have to add an extra 8% to all your invoices. That is what you call a "detriment to busienss".
It's even worse if you are competing with non-Canadian firms, because your Canadian clients will be able to get the same service you offer, but from US/overseas, and they will not pay any tax at all. How many will be able to eat that at 13%?
The HST is the government way of promoting business? I should cocoa!
The HST is the government way of imposing a substantial increase in taxes.
The HST increases the tax on services from 5% to 13%.
You could be spending half your money on services, now taxed at 5%. (Assuming, of course, that all service providers actually charge GST.)
Excuse me, but I don't call that "neutral". I'm not that far from calling it thieving.
The HST doesn't benefit businesses? You've said a mouthful there. If you are in a service business, which now charges GST but not PST, you will have to add an extra 8% to all your invoices. That is what you call a "detriment to busienss".
It's even worse if you are competing with non-Canadian firms, because your Canadian clients will be able to get the same service you offer, but from US/overseas, and they will not pay any tax at all. How many will be able to eat that at 13%?
The HST is the government way of promoting business? I should cocoa!
The HST is the government way of imposing a substantial increase in taxes.
You have to look at the entire package and not just the headline. (Similar to your boyfriend, you have to look at the whole package and not just his "package"
).1) Businesses will receive a refund of the HST. This leaves more money for them to lower prices and create new jobs.
2) People making less than $80K will get a $1,000 government cheque.
3) Finance Minister Duncan promise income tax cuts starting in 3 weeks.
1) Businesses will receive a refund of the HST. This leaves more money for them to lower prices and create new jobs. Why? we don't receive ANY refund for any existing taxes now. Please show me a link that states we'll get any sort of refund.......2) People making less than $80K will get a $1,000 government cheque. Bullshit, I don't believe that crap for a second. The government doesn't give ANYONE making $80K any sort of refund. Maybe $25K, but not $80.......You have to look at the entire package and not just the headline. (Similar to your boyfriend, you have to look at the whole package and not just his "package"
3) Finance Minister Duncan promise income tax cuts starting in 3 weeks I'll believe that when I see it....and in typical government fashion they'll promise straight across the board tax cuts, then anyone who makes more than $30K per household will be suddenly EXEMPT and then if you own a car, a house, have a cat, once smoked pot and probably 72,000 other reasons will make you exempt......
Eligible businesses are eligible for a refund of the current 5% GST that they pay on their purchases of goods and services.
I'm sorry, but I still don't see it. I am amazed how our good terbite thinkers, usually so erudite, are so willing to consider the HST as maybe neutral, or maybe even a good thing.
The HST will increase tax on services from 5% to 13%. That means very many consumer invoices will increase by 8%. Sure, it's neutral for some businesses. But it's not neutral for businesses that provide services to consumers. They will have to add an extra 8% to their invoices. We're all of us consumers, even if some of us are also businesses.
How can you possibly think that anything is worth saying about the HST, when compared with the fact that the HST will increase the fakking tax on services from 5% to 13%?
Or is it me, that's living in a daze?
The HST will increase tax on services from 5% to 13%. That means very many consumer invoices will increase by 8%. Sure, it's neutral for some businesses. But it's not neutral for businesses that provide services to consumers. They will have to add an extra 8% to their invoices. We're all of us consumers, even if some of us are also businesses.
How can you possibly think that anything is worth saying about the HST, when compared with the fact that the HST will increase the fakking tax on services from 5% to 13%?
Or is it me, that's living in a daze?
True but this should be offset by a lower price on manufactured and imported goods because manufacturers and importers will be eligible under the new system to recover the 8% PST that is not currently refundable.
Rock: it isn't refundable because IT ISN"T PAYABLE...what part of that don't you understand? Companies that purchase goods for resale DO NOT PAY PST on those items!!!
As for REFUNDS the portion of GST we pay on eligible purchases (operative word there is ELIGABLE) is a CREDIT not a refund. The odds of getting a credit is very very VERY rare because any company that can stay in business sells products for more than they pay for goods or services. If a company continually gets a credit on their GST returns I can guarantee you the Feds will be doing a very detailed audit.
SInce you seen to not understand let me explain it to you:
Company A buys a box of screws for $10.00 and pays 5% GST on that box. That's 50 cents. They sell that box of screws to Joe Carpenter at $12.99. Joe carpenter pays GST of 65 cents. COmpany A collects this 65 cents, deducts the 50 cents they paid out, and the Feds get the 15 cents, and the company makes $2.99 on the sale. They pay wages, corporate taxes, etc etc out of that profit.
If they don't collect any GST, the Feds won't let them stay in business long. the only companies that operate in this manner are registered charities. (I forget what the rule of thumb to turn a profit is, I've heard 5 yrs but that doesn't make it so).
The present government has a strong majority. A majority given to them by the average Ontario voter. Did you miss the last provincial election result?
Here is an example using an exporter of screws. EXPORTER buys a box of screws for $10 pays $0.50 GST on that box. They sell that box to a non-resident of Canada. No GST is collected on the sale to the non-resident. EXPORTER applies for and receives a cash refund from Ottawa of the $0.50 it paid on the original purchase of the screws.
