Posted on: 11-05-09 10:59:51
Hello All
As I mentioned in one of my earlier posts, I am planning to make a 5 min documentary for my school project on tax harmonization that will be implemented in July 2010. I am in the process of researching the subject and collecting details about how this will affect the common man/woman. All I can read from internet abt this subject are all high level. Can some expert in this forum break it down for me and let me know how this will affect us.
1) What are all the products and services we will be paying extra tax for that we never paid before the harmonization.
2) For how many years will the government pay $1000 for families with income below $160k.
In the documentary, I am planning to interview some people to get their opinions on this subject, if any of you is interested in appearing in my documentary then pls let me know.
Thanks for all your help
rsk
Question: Is your documentary in support of this harmonization? Or against?
As a consumer it might cost me an additional $500-1000 a year. But the province expects businesses to save some 100-200 millions a year. So it could be an interesting documentary. I would suggest, stay in favor of harmonization.
Quote:
Originally posted by rsk12
1) What are all the products and services we will be paying extra tax for that we never paid before the harmonization.
Mainly: Baby/children products, gas, new home and insurance.
Quote:
Originally posted by rsk12
2) For how many years will the government pay $1000 for families with income below $160k.
Hehe .. if i recollect the exact word .. it's something like "$1000 distributed over 3 years"
Quote:None of which will be passed on to the consumer, at least there is no current indication that it will be.
Originally posted by sville
As a consumer it might cost me an additional $500-1000 a year. But the province expects businesses to save some 100-200 millions a year.
It's just another tax grab - hey, somebody gotta pay for all those bailouts.
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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"
.... the government will pay $1000 for families with income below $160k ...
Hi, rsk12
Can you give me some more information, about this government program?
Thanks in advance.
-Ben
Thanks for the responses guys. appreciate it.
I am going to try to be impartial in making this doc, but my inherent conviction that Canadian government is out to grab the common man’s money will probably affect the outcome of the documentary.
Can you pls explain to me how the businesses will benefit from this harmonization.
Is there any statement from government on how they will use this extra tax money to help the people of the province..
Thanks again
rsk
Quote:
Originally posted by benparsad
.... the government will pay $1000 for families with income below $160k ...
Hi, rsk12
Can you give me some more information, about this government program?
Thanks in advance.
-Ben
I am not sure abt the details of this government payout, but I read somewhere that the govt will payout $1000/year for families with less than $160k income once the tax harmonization is implemented in July 2010. I am not sure if it is only for a year or for a few years or indefinitely (very unlikely).
Cheers
rsk
Quote:
Originally posted by rsk12
Thanks for the responses guys. appreciate it.
Can you pls explain to me how the businesses will benefit from this harmonization.
Thanks again
rsk
Currently businesses can claim GST (5%) paid by them on their purchases back as Input tax credit (refund, in other words) .... with the harmonization they will be able to claim whole 13% (current GST and PST) back.... this in essence would mean, no sales tax burden on businesses ....
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Vik
