Will the consumer gain?

We all know that the HST will benefit business and industry, however will it benefit the consumer, the end user of goods and services?

Traditionally none of these tax savings or shifts have been passed on to the consumer.

Industry uses tax breaks to get back on track and generate profits. Once this has been accomplished they do not pass these savings on to the consumer, it is lost in normal price increases and inflation.

Will the government share this windfall tax?, of course not.

The government is so far in debt that it falls into general evenue and gets lost on useless and outdated programs.

2009/10/02

The stop the HST movement rages on.
We all know that the HST is NOT revenue neutral as the Liberals claim.
They are shifting the tax to a broader base and therefore will have more people subject to the tax, hence collecting more tax revenue.
Will industry pass their savings on with the change?. NO.
They supposedly need this in order to stay in business and make a profit, so where does it become revenue neutral and who pays?
The poor "schmock" you and I the little people. Do the Liberals care? of course not. We do not have another election for three years.
By then they will load the coffers and hand out goodies to the electorate.
Write the minister and stop the HST

The deadlines are now over. You should have gotten yours T4's and have invested in your rrsp by now.
Although the deadlines to contribute to an rrsp was March 1st. you may not have all your receipts. This should not stop you from starting or completing your tax return and taking advantage of netfile or efile.
Don't delay doing your return even if you owe money. You can still file and make your payment at a later date, as long as it is prior to April 30, this way you will avoid late filing penalties.

The Conservatives have brought down their long anticipated budget.
Their are a couple of changes to income taxes, such as the renovation tax credit and the increase in personal exemptions.
If you are planning renos, this is the year to do them as the credit expires in February 2010. Plan ahead, but first let's get the 2008 taxes done.

Doomsday for Canada's economy
Mark your calendar for Budget DAY in Ottawa
coming to a theatre near you

Mark January 27th on your calendar
That's when the new budget comes down.
Will there be tax cuts and are they meant to stimulate the economy or remain in power?

Rental Properties

For some reason this year I am getting a lot of inquiries on rental properties and capital gains.

There are many factors involved, including designation as your principle residence.
My suggestion is, to sit down with aprofessional. Bring your documents with you and go over the entire situation.