GST Being Lowered Again
133 words eaten alive on December 27, 2007 - Filed Under Business, News -
Canadian shoppers are getting a break again in the form of a minor sales tax cut. The Goods & Service Tax (GST) will be dropped from 6% to 5% as of January 1, 2008. For us Nova Scotians, this means an overall sales tax (HST) of 13% down from 14%.
This means for people like me, store owners, having to spend hours changing our registers/POS systems to reflect the change, and having to reprice a lot of items as well. Our movie rentals for instance have always been a ‘tax included’ price, currently $3, so now I’ll have to change every item in my database from $2.63 to $2.65.
It’s worth it in the long run, tax breaks are always welcome, but it would be nice if they’d make up their minds.
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