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Happy Canada Day!
- Thread starter GVP
- Start date
Craig Sjoquist
New Member
Go canada
With introduction of HST (harmonized sales tax) starting of today, Ontario and BC residents have little to celebrate.
Don't you love it when politicians dip their hands into our pockets looking for loose change and tell you it is for our benefits in a long run. Who do they think they are, bankers?
Sorry for the rant.
Happy Canada Day, Eh!
Don't you love it when politicians dip their hands into our pockets looking for loose change and tell you it is for our benefits in a long run. Who do they think they are, bankers?
Sorry for the rant.
Happy Canada Day, Eh!
Royster, Please tell me more how you will save 1.000s per year.
royster13
New Member
Anything you now pay PST on becomes HST.......PST is an expense.....HST paid can be deducted from HST collected so it is no longer an expense because you recover 100% of it.....The HST is getting a bad wrap because folks do not understand it......
Last year I paid almost 3,000.00 in PST on purchases such as computers, office supplies, marketing materials, samples, self promotional fliers, etc.....
Last year I paid almost 3,000.00 in PST on purchases such as computers, office supplies, marketing materials, samples, self promotional fliers, etc.....
Happy Canada Day to everybody 
anotherdog
New Member
Thank you too, though I'm sitting here next to my printer catching up while the phone is quiet...as I do on almost every holiday that my wife will let me.
Royster,
You can deduct HST on such products cos you run business. How many of our family members do not? Do you buy computer, printer, cutter every year?
Have you checked your gas pump price this morning? Can you deduct 100% when driving your car for personal use?
Other services like dental care, lawyer etc. are subject to HST tax.
You can deduct HST on such products cos you run business. How many of our family members do not? Do you buy computer, printer, cutter every year?
Have you checked your gas pump price this morning? Can you deduct 100% when driving your car for personal use?
Other services like dental care, lawyer etc. are subject to HST tax.
gabagoo
New Member
Happy Canada Day you Canucks!!!! Heck I'm taking Thursday and Friday off....FORE!!!!!!!
As forthis HST..... from a business standpoint I am alll for it and can see why the govt instituted it.
How many of my customers would PST exempt themselves on signage and printing that they had no intention in reselling.... the govt lost a lot of money with the old system.
As to buying computers and software etc.... I always pst exempt when purchasing asthey are used in production. As to my car? I write the entire vehicle off 100%. I figure you have to be aggresive in this country if you want to get ahead. Rememberthey can only go back 7 years if you get audited!!!
As for me personally I am not thrilled with it. I dont like the idea that they included the tax on Energy....political suicide if you ask me...what fool will vote the Liberals back into power in 2 years.
I think you can still buy a coffee at Tims hst free...
royster13
New Member
In BC it will have little or no effect on most families....Not exactly how it shakes out in ON but with the "credits" the government is giving you should be better off....Most of the "naysayers" are spinning false and/or misleading information...In my family with the extra 3,000 my business will save, we will be way better off.....Also, it will level the playing field with business outside BC that ship stuff here....They will have to charge BC HST...Same with stuff shipped to ON....For years my pitch to ON clients was I did not have to charge PST....But now I have to charge ON HST same as businesses in ON....No longer will I have an advantage.....That should be good for your business...
Happy Canada Day Gabagoo, weather should be good for round of golf on weekend.
I worked for another company from '73 to '97. Owner and his wife claimed many personal expenses on business account. Heck, they even claimed boat engine. In mid 90's company got audited and was fined in excess of 100.000.00 The auditor drove from business address to their home and calculated traveling distance as personal use. Just as any of his/hear employee business owners are required to pay their way to work and back home.
You are right, Timmis coffee is HST exempt................for now.
I worked for another company from '73 to '97. Owner and his wife claimed many personal expenses on business account. Heck, they even claimed boat engine. In mid 90's company got audited and was fined in excess of 100.000.00 The auditor drove from business address to their home and calculated traveling distance as personal use. Just as any of his/hear employee business owners are required to pay their way to work and back home.
You are right, Timmis coffee is HST exempt................for now.
gabagoo
New Member
Happy Canada Day Gabagoo, weather should be good for round of golf on weekend.
I worked for another company from '73 to '97. Owner and his wife claimed many personal expenses on business account. Heck, they even claimed boat engine. In mid 90's company got audited and was fined in excess of 100.000.00 The auditor drove from business address to their home and calculated traveling distance as personal use. Just as any of his/hear employee business owners are required to pay their way to work and back home.
You are right, Timmis coffee is HST exempt................for n
ow.
when I say being aggressive I do not mean to be an idiot!!! Writing a boat off is pretty dumb.
So long as you pay your taxes on time and always pay your GST and PST on time and your Employee tax deductions on time, chances are you will stay off their radar.
The moment they see spikes in your returns or late payments they start taking a closer look.
But remember they can only go back 7 years, everything before that is said and done.
I just dont see the reasoning as to why a cup of coffee can be made tax exempt yet the energy I use to heat my home and give me light will be taxed when it never was before. If you can exempt a cup of coffee then you can exempt energy.
My God!!! Gas already has 50% taxes already doesn't it?
sjm
New Member
Don't know what to think, as my smokes went up $0.65 while my favorite beer remained at the same price.
I suppose we should be thankful this new and improved Harmonized Sales Tax takes some but gives some back.
Does anyone know if that Billion $ security G20 fence was tax free? Only in Canada eh?
BTW Happy belated Canada Day, some of us get the day off today to celebrate.
I suppose we should be thankful this new and improved Harmonized Sales Tax takes some but gives some back.
Does anyone know if that Billion $ security G20 fence was tax free? Only in Canada eh?
BTW Happy belated Canada Day, some of us get the day off today to celebrate.