tag:blogger.com,1999:blog-19402125.post6594371990275902342..comments2024-02-07T16:22:39.625-05:00Comments on Jeff Jedras: Taylor lies and the Conservatives hide from the HSTUnknownnoreply@blogger.comBlogger5125tag:blogger.com,1999:blog-19402125.post-91571571539267339682009-09-09T19:26:07.505-04:002009-09-09T19:26:07.505-04:00BCL,
That's correct, transitional funds one t...BCL,<br /><br />That's correct, transitional funds one time, tax changes permanent.<br /><br />Basically, instead of a business collecting both PST and GST, and remitting one to the province and one to the feds, they collect one harmonized tax, remit it to the feds, and the feds send the province their cut. It saves on admin time and costs for businesses, and for the provinces as well since the feds are doing the collecting.<br /><br />The hiccup is some things that cost GST do not cost PST. But when you harmonize to the GST, and vice versa. But when you harmonize to the GST, they then do. So on some things where you paid GST but not PST, you now pay the HST, which is higher than the GST alone, so its a tax increase. On other things, its the opposite, and amounts to a decrease.<br /><br />So, at the end of the day, I believe its all revenue neutral to the government. But there will be winners and losers. That's why the devil is in the implementation details.<br /><br />It's also a dicey thing to do during a recession, when small increases in some areas are harder to absorb.<br /><br />I'm far from an expert in this whole thing, but that's my understanding of it anyways.Jeffhttps://www.blogger.com/profile/14971310821484459106noreply@blogger.comtag:blogger.com,1999:blog-19402125.post-6221891073680207532009-09-09T19:20:08.850-04:002009-09-09T19:20:08.850-04:00Transitional costs are one time only but the incom...Transitional costs are one time only but the income tax cuts are, I believe, permanent. <br /><br />I'm not sure whether I support or not, but the whole thing can be revenue neutral and still be a financial winner for the province. You get to scale back on admin costs. So it doesn't have to be a tax grab. But IS it?bigcitylibhttps://www.blogger.com/profile/05081538803991095825noreply@blogger.comtag:blogger.com,1999:blog-19402125.post-14952847713221785792009-09-09T17:55:03.314-04:002009-09-09T17:55:03.314-04:00Nice Ten Percenter!
I wish they'd send that t...Nice Ten Percenter!<br /><br />I wish they'd send that to my riding.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-19402125.post-73257728542605118322009-09-09T15:41:36.101-04:002009-09-09T15:41:36.101-04:00I think the transitional funding is one-time only....I think the transitional funding is one-time only.<br /><br />The HST does make sense good in a lot of ways, the problem is there's a lot of things the GST covers that PST doesn't. The province should work with the feds so that more things are not taxed, rather than taxed.Jeffhttps://www.blogger.com/profile/14971310821484459106noreply@blogger.comtag:blogger.com,1999:blog-19402125.post-32039396693582115442009-09-09T15:30:36.434-04:002009-09-09T15:30:36.434-04:00I live in Ontario, and I think the Ontario Liberal...I live in Ontario, and I think the Ontario Liberals were against the HST until Flaherty jumps in, and dangles a nice cheque.<br /> I myself do not like it. What happens to the money the year after..more from the Feds..or it is all up to the Ontario Government afterwards? We need our voices heard.....A Eliz.https://www.blogger.com/profile/11088834823455226692noreply@blogger.com