While initial predictions suggested that retail sales over the holidays would decrease due to the lingering HST, surprisingly, BC residents were still out in full-force to take advantage of Boxing Day blow-out sales.
According to recent reports, retailers saw a surge of sales on Boxing Day by BC residents. It was anticipated that because of an overall low-consumer confidence that sales would decrease but as Wynne Powell, CEO of London Drugs Richmond stores assessed, the economy as a whole continues to gain strength “[...] but people have been lacking confidence to …
HST will apply to the purchase of new homes, however there will be HST rebates available on the purchase of new homes.
The hospitality industry is making a stand against HST. Learn how HST will affect this industry and what they are doing to fight HST.
HST rebates will be available for things like residential energy. In most cases, the rebate will be administered at the point of sale.
Following through with an announcement from last week, B.C. Premier Christy Clark is promising to lower the HST rate by 2 per cent in the next three years. This will make B.C.’s combined tax drop to 10 per cent. Clark announced today that she has decided to “rebalance the burden” of the HST between businesses and consumers. The change, however, will only be made if B.C. residents vote in favour of keeping the HST in place on June 24.
Provincial Finance Minister Kevin Falcon is pleased with the announcement and believes …
Protesters of the HST released a report earlier this month highlighting the problems with the harmonized system. Leader of the anti-HST movement former Premier Vander Zalm, organized a group of volunteers to compile the report focussing on the burden of the HST. Vander Zalm stated that the report investigates how inflation and the stagnant economy is a direct result of the harmonized tax. He claims that the tax places an unnecessary burden on the middle and lower class residents while giving more power to the federal government when it comes …
In the wake of new mortgage rules being announced March 18, 2011, many home buyers are struggling to keep up with not only the changes but the HST implementation. Already British Columbia has seen a decline in construction and purchase of new homes as a result of the HST rules, but there may be a continued decline due to the new mortgage rules.
The new rules are said to help stabilize high ratio mortgages as well as the market by decreasing the amount of household debt in Canada. While these new …
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