Jul 06, 2011 7:11 AM GMT
To those who live in beautiful British Columbia, the HST referendum is upon us. What are your views on this issue?
I get it - people are pissed at the Liberals for how they introduced the tax after an election, during which it never came up. Being pissed at the government for HOW they did something however, is not a good reason for scrapping a tax that has been shown to be extremely beneficial to the province. If you're pissed off at the government, vote them out, but don't get rid of a more efficient, streamlined tax system.
HST is a Value-Added Tax - it is a more progressive tax system then the traditional PST-based system and has been adopted by many jurisdictions around the world because it has been proven time and again to be far more efficient and beneficial than other tax policies.
I'm voting No - I am voting to keep the HST because, unlike so many people who have been hoodwinked by Bill Vander Zalm and are just swallowing everything he has to say without checking any of his facts, I have done my research and concluded for myself that the HST is better for BC than the PST.
But don't take my word for it; do your own research!! go to www.hstinbc.ca and decide whether you like the HST or not.
meninlove said In an ironic twist:
and this one:
"It is up to you whether you reduce your VAT inclusive prices to reflect the lower VAT rate. The government encourages businesses to pass on the benefit of a lower VAT rate to customers by lowering prices, but you do not have to do so."
Buoyed by the optimistic posts we read here, we've been asking businesses about lowering prices, as we know a great many people who either own a business or are holding executive positions in larger ones.
So far.... None are planning on lowering prices and thought I was a little kooky for suggesting it.
Several called it a much needed windfall (their leased space went up) and two people we know in the executive of large firms have said the money is being put towards buying up a competitor. With federal corporate tax dropping to 17% and the HST refunds they think they'll be able to do this soon. Once they achieve synergy as they merge they will be laying off as they won't need as many employees. One gal giggled and said they are a business and not a social service.
Others have said they will be raising prices because Hydro is going up, so are fuel taxes etc. I was told by a couple that 'you always charge what the market will bear, Doug" *blush*
..at the same time we do need this tax. There's a lot of foreign nationals benefiting from our social programs, infrastructures etc that have never contributed via income tax.
meninlove said thecanadianonesaid, "I'm not sure why those people were getting HST refunds."
Input Tax credits:
IInput Tax Credits: Getting Back More of The Tax You Pay
"Under the HST, most businesses can recover the sales tax they pay on the goods and services they buy to operate their business. These are called “business inputs” and include products and services such as:
Telecommunications equipment and services
Energy used to heat and cool offices
Electricity used to run offices and equipment
As you know from running your business, Input Tax Credits aren’t new. It’s the same system used prior to July 1. Before the HST, most businesses could only recover the 5 per cent GST paid on business inputs, but couldn’t get back any of the 7 per cent PST paid. Under the HST, most businesses can now recover the full HST paid."