Written by NNL Staff
Thursday, 12 November 2009 11:28
THUNDER BAY - The McGuinty Government has been suggesting that it is full speed ahead with the planned sales tax harmonization with the federal GST and provincial RST. However, today Ontario has announced additional point-of-sale exemptions for the provincial component of the proposed Harmonized Sales Tax (HST) for qualifying prepared food and beverages sold for $4.00 or less and print newspapers
In a release issued today, from the Ontario Government it states, "Today's announcement comes one week after a report released by economist and tax expert Jack Mintz stated that the HST, together with other tax changes would create an estimated 591,000 net new jobs over ten years".
Other items, such as basic groceries, most health and education services, prescription drugs and childcare, would not be subject to the HST.
The HST is just one part of a comprehensive tax package that would also provide, over three years, $10.6 billion in direct payments and permanent tax relief for the people of Ontario.
As part of the proposed tax package, 93 per cent of Ontario taxpayers would get a personal income tax cut. And nearly 3 million low-income Ontario families would receive a new, permanent sales tax credit of up to $260 for each adult and child per year - one of the most generous in Canada.
Finance Minister Dwight Duncan states, "Not applying the provincial portion of the HST to newspapers and qualifying prepared food and beverages sold for a total of $4 or less would save money for virtually all Ontarians on a daily basis. Today's announcement is about more than the price of your coffee and newspaper, it's about a much larger comprehensive tax package that would create jobs for Ontarians and boost our economy, as we come out of this global recession."
Last Updated on Thursday, 12 November 2009 12:10
Subscribe to this comment's feed
