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?
*Angela Higgins President Niagara Association of Realtors