Harmonized Sales Tax HST

THE TAXMAN'S COMMING!

What will the new "Harmonized Sales Tax"(HST) mean to us?

According to the Niagara Association of Realtors, Ontario residents will pay an additional $1449.00 in new taxes on their next residential real estate transaction.*

In addition 8% will be added on natural gas, hydro  and other household utility bills. It will also add to labour for landscaping, home repairs and snow removal.

There will be an added 8% on personal care eg. haircuts, pedicures etc.

What else, but not all of the rest: 8% more tax on gasoline, personal and professional services, meals under $4.00, dry cleanining, cab fares, magazine subscriptions, plane tickets, vitamins and cell phones.

The government is offering a one time payment of $1000.00 for a family of four along with $368.00 reduction in income tax. It's unlikely this will cover a one year period for the family of four.

The government calls it a "Harmonized Sales Tax". I think it's more like a "Total Tax Grab".

What do you Think?

Brian

 

*Angela Higgins President Niagara Association of Realtors

Brian Demizio

Brian Demizio

Sales Representative
CENTURY 21 Today Realty Ltd., Brokerage*
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