I just read a great article on HST in the Victoria Times Colonist by Andrew Duffy, with a file from Rob Show. It shows the problems that will face everyone once the Federal Government signs that memorandum of agreement on Sept. 30th. "Homebuilders are concerned the HST offers only a five percent rebate of the provincial portion of the single tax up to a maximum of $20,000. That means the cost of new homes up to $400,000 will include no more tax than under the current system. New homes over $400,000, which are the norm in Victoria and Vancouver, still offer the rebate of $20,000, but will see the purchase price above that level subject to the extra tax. New homebuyers will be taking the brunt of this. We are going from 2% overall PST on a house to about 7% overall. That's triple the taxation!, said Casey Edge of the Canadian Homebuilder' Association Victoria." |
| TD Bank Says HST Will Cost Consumers |
Monday, September 21, 2009 |
The TD Bank Report released last Friday says this tax will make things like restaurant meals, bicycles, tourist attractions & new homes, which were previously PST exempt, more expensive. According to Sundays Times Colonist article on this report, 21% of thie things people purchase will suddenly be 7% higher. The HST means an increase in the tax burden borne by the average consumer while big business saves billions. Tell your MLA to back this tax off your basic essentials like food and shelter before it is to late. |
posted by David Hale at 11:49 am - 0 comments
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