Quote:
Originally Posted by Tapioca
Currently, businesses have to pay PST on goods and services (i.e. capital) they purchase and then claim a refund when tax time comes around. With the HST, the tax burden gets shifted to the consumer as businesses no longer have to pay the PST on capital. The savings reaped theoretically allow businesses to invest more in capital which sorta translates into increased productivity and potentially more jobs.
Personally, I'm skeptical about the actual benefits. However, I reluctantly support this tax because the provincial government is running a large deficit and it needs as much revenue as it can get. Like I've mentioned before, if you can't afford another $7 on a meal at West (or wherever else that kids eat these days), then you need to stop pretending you're a shot-caller.
|
of course shifting it to the consumer and adding more taxes on other products THAT WEREN'T TAXED BEFORE will make people want to buy more!
Remember the fast ferries? Just because the government says something is good for the economy doesn't mean that it is. That is another 7% on homes that qualify for HST.