best fucking idea in a long time!

New homes are just one of the items that will be taxed more when B.C. adopts the HST next year.
(CBC)
B.C. consumers will soon be paying much more tax on items that were previously exempt from the provincial sales tax, including big-ticket
items like real estate, as part of the new harmonized sales tax.
Premier Gordon Campbell announced Thursday that the new sales tax, which will combine the five per cent GST and the seven per cent PST
into a single 12 per cent levy called the HST, will take effect in July 2010.
Under the new tax, consumers will pay a levy equivalent to the GST plus PST on restaurant meals, airline tickets, funerals and haircuts — all
items that were previously exempt from the PST.
New tax hit on real estate
But the biggest tax hit could be on those who buy new homes, which were previously exempt from the PST but not the GST.
The province will offer partial rebates of five per cent to a maximum of $20,000 on new homes. But someone buying a new $800,000 home —
roughly the average price for new house in Vancouver — will still pay an extra $36,000 in tax under that formula.
Vancouver realtor Tom Everett said the additional cost will cripple a market that had been recovering.
"They have absolutely lost their minds if they expect people to pay that sort of a tax. I don't understand why on earth the government would do
that to the housing economy, seeing as housing is one of the staples of a healthy economy, as you can attest to by checking out what's happening
in the U.S.," Everett said.
The provincial government insists the majority of new homeowners won't see a difference in prices when they buy a home under $400,000,
because of another PST rebate program for builders. But critics note there is nothing to ensure those rebates are passed on to consumers.
No consultation: NDP
Meanwhile, the B.C. New Democrats have accused the Liberal government of bringing in the new tax without consulting with affected groups
such as the tourism and restaurant industries.
Campbell and his party even dismissed the idea of a harmonized sales tax during the recent provincial election, according to NDP finance critic
Bruce Ralston.
“This sudden reversal caught consumers and many small businesses by surprise. During the campaign, the B.C. Liberals said they were opposed
to the HST,” Ralston said in a statement released Friday morning.
The NDP estimated the new tax could cost the average restaurant $50,000 a year in lost sales.
A number of items will still be exempt from the PST portion of the new tax: gasoline and diesel fuel for vehicles, books, children’s clothing and
footwear, children’s car seats and car booster seats, diapers and feminine hygiene products.

hahahaha lol what a sucker

dont you want his pic? otherwise it didn't happen ;) ....

Awesome paragraph formatting :rolleyes:

I was nice enough to copy and paste for you already.

It just turned out that way when I pasted.

:)

this is why you guys should have voted the NDP in

Touche

Not really, we'll end up be fucked by the NDP in another way.

Hey, actually, if u think about it, the timing of this tax is perfect. By Jul, 2010, the bills for the Olympic will be coming and by having this huge surge of tax money, they can sort of pay off the bills. Then they can tell us how, contrary to wut we all think, the Olympic is not losing money and we all should stfu.

another reason to move back to Alberta

how does taxing native people solve anything? natives do not hold a lot of wealth in canada.

if anything we have to tax white people...... more... lol.

NDP will overspend, then blame the liberals for the over spending.

liberals will just lie.

so there really isnt a lesser of the evils.

sorry young/hot females only
...u a female by any chance?...if so pics or u didnt happen:lol

It seems that way, but when you delve into it, high income earners get far more out of government services that poor people do, or use. It just doesn't seem that way because, like you said, poor people have far more direction with government officers than wealthy people.

Rich people typically rely heavily on what the government provides in order to make their money. Never mind government contracts, simply creating the conditions under which to do business. Everyone benefits from the government in one way or another, but it's amplified for business owners.

For example:

education. Both for the owner and for their employees. Life's a lot easier when the government is both subisdising and doing quality control on the education of prospective employees.

Roads/transportation - want to sell your goods? Better have a way of transporting them. Having an interstate highway isn't really to make peoples summer roadtrips better, it's to make shipping goods cheaper.

Protection: Getting your TV stolen is a bitch. Having all your merchandise stolen again and again is the best way to lose a business. And of course inernational protection. Pirates are becoming all the rage these days, but it pales in comparison to what it was like before governments actually put the money and effort into stopping mass piracy.

Civil courts - It'd be pretty crazy to get payment if there weren't civil courts. Other than hiring mercenaries, if someone decided to stiff you on a million dollar contract, what the hell would you do?

Medical - especially in Canada. One of the major reasons that GM/Ford?Chevy have plants in Canada is simply that the government healthcare saves millions upon millions of dollars for the company. That and the fact that healthy employees are a must for continued profitability.

There's lots of others, I'm just to lazy to go look them up. But I think the general idea is pretty clear. It may cost the government $20,000 a year to go clean up after Joe Crackpipes binges, but it costs the government $1,000,000 to provide the share of roads, education, healthcare, etc, etc that keeps Joe Awesome Incorporated humming along.

So buying a house now, you will have to pay HST on top of PST?

I always tip after tax too, but couple of my buddies told me you're supposed to calculate the tip before tax. Is that how everyone does it?

copied from a local realtor petition email:
"If your Buyer purchase a new house/condo, say $1,000,000, on completion date,
they have to pay PST: $ 18,000 (1% on 1st $200,000, 2% on balance)
and the new HST: $120,000 (12% on purchase price, with 7% to be recovered later)
Subtotal TAX: $ 138,000 (on top of purchase price on completion date)"

Holy shit... thats 13.8% on top of purchase price.

I wonder what does the local realtor mean when he says "7% to be recovered later" while still just adding those two numbers up.

I think you mean PTT - Property transfer tax - not PST.

yes

^^ PTT not PST

there will be a new sliding scale for HST rates with every price range so not everyone will be paying the full 12 (i'm pretty sure on this. will have to double check). PST will only effect those who are purchasing their homes since the release of the news of this new tax (so ...a couple days ago) but anyone before that will stick to the 5% tax.

Do you even know many white people?

We gotta figure out a way to tax all those "students" who drive $100,000 cars to school.

can someone keep us informed about this?

where is the best place to actually understand this? I am hearing that there really isn't going to be much of a change due to some rebate. Anyone confirm? (like with an actual website, not a word of mouth)