How will the HST affect you over the holidays?
On July 1st, 2010, both the Ontario and British Columbia provincial governments restructured their sales tax systems by combining GST (5%) with the PST (7%) to create the Harmonized Sales Tax. The goal was to build a more efficient tax system without increasing sales tax revenues. Of course, this means that the end-consumer (you and me), must pay more in the short-term with the assumption that in the long run prices of goods will go down and there will be a significant increase in the availability of jobs due to a more efficient taxing of businesses.
Polls have shown that approximately 90% of British Columbians and Ontarians are opposed to the HST, and here is what our Facebook community had to say:
Whether you agree that there will be a long term benefit to consumers or not, one thing remains certain this holiday season: we’ll all be paying a little bit more. So what effect will it have on you? If you’re reading this blog then you’re already aware of the benefits of buying used, but will you be using your local Used.ca or your neighbour’s garage sale to purchase your Christmas gifts?
Whatever your response is to the HST and this article, get it out of your head and on to the keyboard in the comments below. That’s what they’re there for, after all.