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| | HST | | | Harmonized Sales Tax in Canada-Ontario Edition | | | Since its introduction, the federal government has consistently proposed to the provinces the adoption of a harmonized sales tax system. Benefits to businesses are noticeable. The abolition of the array of retails sales taxes, each with its own peculiarities, rates and jurisdictional issues, eliminates a substantial administrative burden imposed by filing requirements and audit, and reduces the heavy investment in knowledge and training that an abundance of systems would require, resulting in measurable savings. Adopting a value-added tax also removes the hidden cost that results from a retail sales tax, which in turn promotes reduced pricing in those sectors of the economy that are less weighted toward personal services.
Click here for info | | | | General Transitional Rules for Ontario HST | | |
The 2009 Ontario Budget proposed a comprehensive package of tax changes. Central to this tax package is the proposed Harmonized Sales Tax for Ontario (HST), which, subject to legislative approval, would come into effect on July 1, 2010.
This Notice provides details of proposed measures that would build on Ontario's comprehensive tax package and help consumers and businesses transition to the HST.
The Notice provides general descriptions of transitional rules for the HST that will be proposed to be enacted in the federal Excise Tax Act (ETA). It also provides general descriptions of provincial measures that will be proposed to be enacted to wind down the applicable provisions of the Ontario Retail Sales Tax Act (RSTA).
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