HomeMy WebLinkAboutThe Goderich Signal-Star, 2009-11-25, Page 38Page 38 - Goderich Signal -Star, Wednesday, November 25, 2009
.. x Nyew ta aliows business recover o of and PST
Perth -Wellington MPP John Wilkinson de- Country Club. The HST is already used in four provinces the initial impact of the HST. Families mak-
fended the Harmonized Sales Tax (HST) at Wilkinson explained that the HST is only and 130 countries, Wilkinson said, with good ing less than $160,000 will receive $1,000
the Huron Perth Real Estate Board member- one aspect of a tax reform that includes low- results. tax free, which will cover the HST paid on
ship meeting Nov. 20. ered income and business taxes.He said that a "In Europe you pay more at the cash regis- approximately $12,500 worth of purchases.
The Ontario Real Estate Association claims tax reform which includes the HST is the only ter to pay less on your pay cheque," he said. Businesses will receive $300.
that the eight per cent tax, which combines way for Ontario to remain competitive after The Conservative federal government is Some members of the real estate board still
the PST and GST, will add about $1,500 "the largest economic transformation since also a backer of the HST, Wilkinson pointed had their doubts, however.
more in taxes to the average residential real the 1930s" out. "It can punitively damage our indus-
estate transaction in Ontario. The Huron Wilkinson said that while presently busi- "Either we're both crazy at the same time or try. There's not a doubt about it," said Greg
Perth Real Estate Board is one of the smaller nesses can claim GST credit but not PST cred- there's a damn good reason to do it," Wilkin- Nafziger, a sales representative for Re/Max
boards in the association, but was able to have it, the HST will allow businesses to recoup the son said. A -B Realty in Stratford. Other members
Wilkinson, the Minister of Revenue, explain cost of both. Wilkinson added that HST pa- The federal govemment will be giving $4.3 voiced concerns about the increased cost of
the controversial tax and answer questions at perwork will be simpler than the current PST billion to Ontario so that the province can real estate transactions deterring customers
their meeting, held at the Mitchell Golf and processes 'some industries have to follow. distribute the money to consumers, easing from buying or selling homes.
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