Quote:

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Originally posted by Rajeev Narula

From Toronto Sun's columnist

http://www.torontosun.com/comment/columnists/christina_blizzard/2009/03/25/8873161-sun.html

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I have done my part and sent a letter to MPP... thanks Rajiv !

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Vik

I am still searching for info about the Pros and Cons of this move. Besides the cost increase in real estate, there are many other cons, I dont see any pros.

By clubbing the PST with GST, the province wants to give away the 8% collected to feds and then wait for feds to return the money back to province - after all the fighting going on between the fed and provinces over poor fund allocations for the city and province's infrastructure in the past...just doesnt make any fiscal sense to me. Who is actually going to save anything? The prov govt? or the Corporate sector?

Looks like another day dreaming activity similar to the Day light saving time.

Maybe, senior and knowledgeable CDs can share your thoughts.



Hiren

I would tend to think that this move will be highly benefical to new immigrants and people in lower income.
if you are a family, you will be getting $1000 a year. (To null this family income is set at $160K which is quite a high bar. not every immigrant family -esp. desi- can expect to acheive this income in a short span of time).
Also the Ont. govt. has frozen ths GST/PST harmonisation on many articles such as books, baby clothing, Child seat, new homes upto $ 400K etc...
I welcome this move and it will benefit me greatly.I am sad to see that it takes effect only from June or July 2010.

some effects as to what I see happening :
1. More people will buy the car from the dealer as there is no much incentive (mainly the PST savings) when bought privately.
2. House flipping will be affected. there will be a reduction in flipping and this will bring some sense on the price of houses. (of course the downside is that realtors will see a slowdown in buisiness).
3. New homes will sell more faster. Under $ 400 K will see no PST charge.
4. People will start buying more in garage sales as it has no GST / PST involved.

But as a whole it is not good for the economy as it might hinder growth. But I think that Dalton expects the economy to recover in early 2010 and thus the potential June 2010 deadline for the recovery. I have been reading the comments on the article in Toronto star and 99.9% of the people OPPOSE this move. Therefore, if the public's memory is long , we can see the liberals being booted out in 2011. For Dalton, the decision must have been very difficult. He has only 2 choices
1. Bring the Harmonisation now and feel the wrath of the people
2. Bring the Haronisation in June 2010, when the economy might have recovered a bit and thus he hopes that people will not remeber the tax so much.
He chose the later. Only time will tell , if he did the correct thing.

just my views. As an unemployed (and future under employed) immigrant

Peace by TK

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I am a Gents and not a Ladies.

This is nothing more than yet another money grab from the hard working people.
This is a transfer of wealth from the working to the lazy bums.
After all, the auto bailouts and manufacturing bail outs have to be funded from somewhere.
Who's gonna pay all those bonuses to the poor, suffering, hard-working corporate executives?
The $1,000 refund does not even begin to cover the damage.

If they wanted to tax new home sales, why not just do that, instead of a "harmonized" tax.
There is no harmony in this tax

How about the liberals try *reducing* the PST for a change?
How about they make it 5% like the GST and THEN harmonize it?

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"Mah deah, there is much more money to be made in the destruction of civilization than in building it up."

-- Rhett Butler in "Gone with the Wind"

I agree with Pratickm.Reducing PST to 4-5% before harmonising would be still palatable.

Or if the only reason for Dalton is to help the Businesses invest in Ontario, he can make PST expenses be treated similar to GST and be refunded if the PST paid is for the purposes of generatiing business profits/employment. Or he could add machinery to the existing list of exemptions. Don't the businesses write off all expenses anyway...including PST???

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Rajeev Narula, Broker, REALTOR®
ACE TEAM REALTY INC., Brokerage
10 Kingsbridge Garden Circle, Suite 704
(Opp Square One - HWY10/403)
Mississauga, ON L5R 3K6
Bus: 1-888-355-3155 Ext. 300
Fax: 1-888-443-3155
Email:
Web: http://www.RAJEEV.ca" rel="nofollow">LINK

Quote:

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Originally posted by pratickm

This is nothing more than yet another money grab from the hard working people.
This is a transfer of wealth from the working to the lazy bums.

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