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Topic: GST (Canada)

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In the News (Fri 22 Jun 18)

  taxtips.ca - GST and HST Information
GST, or goods and services tax, is a 7% (6% effective July 1, 2006) tax which is charged on most goods and services in Canada.
Canada Revenue Agency has issued some documents to help taxpayers with the change to the rates, in particular with transactions which start prior to July 1st and are completed on or after July 1st.
When the GST rate is reduced (by the May 2006 federal budget) effective July 1, 2006, the factor used in the notional input tax credit will be 6/106.
www.taxtips.ca /gst.htm   (2506 words)

 Goods and Services Tax (Canada)   (Site not responding. Last check: 2007-09-03)
Although the GST was promoted as neutral in relation to the repealed MST shifting of the tax away from exported goods would make life more costly for The other parties in Parliament also attacked idea.
Chrétien in the election campaign promised to the GST which the Liberals had denounced vociferously while it was the Official Opposition.
Today the GST is not much of issue other than with the general public are aware of the absence of a sales tax in the United States (despite existence of a hidden 3% U.S. federal It is widely regarded by politicians as inescapable fact that such a large revenue cannot be done away with.
www.freeglossary.com /GST_(Canada)   (709 words)

 Ernst & Young Canada - Services & Solutions - Tax - Library - 2004 - GST Rebate to Municipalities   (Site not responding. Last check: 2007-09-03)
Under the current GST rules, most of the activities of governmental bodies and non-profit organizations are exempted from tax.
As well, the GST exemption system is complex to administer: Public bodies and non-profit organizations, although they contribute little to the overall GST revenues, must wade through more pages of GST rules and regulations and administrative material than all other sectors of the economy combined (with the possible exception of financial institutions).
GST could only be applied to the roughly 20% of revenues from user fees.
www.ey.com /GLOBAL/content.nsf/Canada/Tax_-_Library_-_2004_-_GST_Rebate_to_Municipalities   (1002 words)

 Canada's Goods & Services Tax and the Canadian Hospitality Idustry   (Site not responding. Last check: 2007-09-03)
The GST was to be implemented at a more fair rate of 7 percent, payable by the purchaser and ultimately the final consumer of the goods and services.
The benefits of the GST were to be a leveling of the playing field between domestic and imported goods, and the broadening of the tax base.
Canada continues to be an attractive destination, mainly because of the value of the Canadian dollar versus the U.S. dollar.
www.hftp.org /members/BottomLine/backissues/2000/febmar00/canadas.htm   (965 words)

 CTV.ca | Feds said to suggest blending sales tax with GST
The federal government is raising the possibility as a part of its promise to deal with the fiscal imbalance, which some say exists between a wealthy federal government and less affluent provinces.
GST harmonization has already been implemented in New Brunswick, Nova Scotia and Newfoundland and Labrador under the former Liberal government of Jean Chretien, but other provinces have declined.
Cutting the GST by one percentage point has been one of Harper's often-stated priorities for the coming budget while other recent election commitments will be funded from the sizeable budget surpluses.
www.ctv.ca /servlet/ArticleNews/story/CTVNews/20060427/salestax_gst_060427/20060427?hub=Canada   (706 words)

 CBC - Canada Votes 2006 - Leaders and Parties - Issues   (Site not responding. Last check: 2007-09-03)
The GST came into effect in 1991, a broad-based national sales tax that added seven per cent to the cost of almost everything Canadian consumers bought, from their morning cups of coffee to their children's toys to their new houses.
Anger over the GST was one factor cited when the federal Tories were nearly wiped off the electoral map in the October 1993 federal election.
At one point in the GST debate, legislation establishing the tax that had passed in the PC-dominated House of Commons was stopped in its tracks by the Liberal-dominated Senate.
www.cbc.ca /canadavotes/leadersparties/gst.html   (940 words)

 ::: Canada Mortgages Online :::
GST applies to most of the services provided in completing the real estate transaction.
Again, GST is charged on these fees regardless of whether the house you purchase is exempt from the tax.
GST also applies to the fees charged to the landlord for property management, as well as repair and maintenance services.
www.canadamortgages.com /gstinfo.htm   (915 words)

 Canada Duty Free and Customs Restrictions
To claim a rebate, a gst form must be completed, with all original reciepts attached, and mailed to the address on the form.
GST must be claimed before applying for provincial tax, with the exception of quebec and manitoba, where the provincial sales tax can be reclaimed at the same time as gst on the gst form.
Canada Customs' chief concern is to establish that you really are bringing the goods in for your personal use.
www.traveldocs.com /ca/customs.htm   (1435 words)

 GST introduced (January 1991): historical context, economic impact and related links
It is a multi-stage value-added tax levied on a broad range of goods and services Businesses are entitled to receive a fully refundable credit (i.e., and input tax credit) for the GST they pay on the goods and services they purchase as inputs into their production and distribution processes.
The GST applies to a broad range of goods and services; it doesn’t apply to items that are “zero-rated” or exempt, such as basic groceries, most medical services and devices, prescription drugs and residential rents.
The GST applies to all imported goods and services, but does not apply to Canadian manufactured goods and services that are exported to other international markets.
canadianeconomy.gc.ca /english/economy/1991gst.html   (421 words)

 Policy on the Application of the Goods and Services Tax and the Harmonized Sales Tax in the Departments and Agencies of ...
Rather than the employee paying the GST or HST on the benefit directly, he or she accounts for it by the amount being included in his or her income as part of the taxable benefit.
For example: the GST amount on a petty cash claim would be 5.66 per cent of the total claim; for travel, it would be 5.66 per cent of the total amount of the claim less the portion prepaid by the department (usually airfare).
The GST and HST component of the accounts payable at year-end should be treated as old-year and recorded in the GST refundable account in the old year.
www.tbs-sct.gc.ca /pubs_pol/dcgpubs/TBM_142/gst_hst_fis1_e.asp   (6732 words)

 Understanding GST, Canada's hated tax - www.immigrationguides.com   (Site not responding. Last check: 2007-09-03)
The introduction of GST was very controversial, and, in the subsequent general election, it was a contributing factor to the biggest defeat of a federal governing party in Canadian history.
Although the GST was promoted as revenue-neutral in relation to the MST, the shifting of the tax away from exported manufactured goods would make life more costly for Canadians.
Until recently the GST has not been much of an issue, other than with the general public who are aware of the absence of a federal sales tax in the United States.
immigrationguides.com /life_in_canada/understanding_gst,_canada's_hated_tax.html   (900 words)

 Realty Times - Real Estate News and Advice   (Site not responding. Last check: 2007-09-03)
GST applies to all goods and services except those that are specifically exempt.
Real estate brokerage fees or commissions are subject to GST, but mortgage brokers are considered part of the financial services sector and therefore their fees and commissions are exempt.
The resale of cottages, condominiums, houses and apartment buildings is generally GST exempt except where the building has been substantially renovated and therefore designated “new,” that is, all of the building except the foundations, walls, floors and roof have been replaced or removed.
realtytimes.com /rtcpages/20021029_cagst.htm   (624 words)

 Policy Notice - Reduction in the Rate of the GST/HST
GST at the rate of 7%, or HST at the rate of 15% will apply to the pre-payments as the good or service was either invoiced or paid prior to July 1, 2006.
GST at the rate of 6%, or HST at the rate of 14%, will be applicable to the remaining consideration for those goods or services invoiced on or after July 1, 2006.
A number of GST / HST references and examples in the FIS Accounting Manual use GST at 7%, which as of July 1, 2006 should be read as 6%, and use HST at 15%, which as of July 1, 2006 should be read as 14%.
www.tbs-sct.gc.ca /pubs_pol/dcgpubs/TBM_142/gstpn-aphts_e.asp   (1903 words)

 CTV.ca | GST cut may hike price of spirits, watchdog warns
The tax on beer and wine is to be charged on a flat, per litre basis at the source, meaning the same tax rate applies to premium-priced ale as buck-a-beer lager.
All liquor distilled before Canada Day will not be subject to the higher sin tax.
Spirits Canada President Jan Westcott said most liquor stores and distillers have enough inventory of distilled product that liquor prices won't rise for at least two months.
www.ctv.ca /servlet/ArticleNews/story/CTVNews/20060629/gst_cut_060629/20060629?hub=Canada&s_name=   (619 words)

 Glossary of Frequently Used Terms - G
The GST does not apply to basic groceries, most medical services and devices, prescription drugs, residential rents and exports.
However, certain sectors are also eligible for rebates of a portion of the GST paid on inputs into exempt sales.
Canada was a strong supporter of the establishment of the G-20 in 1999 and chaired the first three G-20 meetings.
www.fin.gc.ca /scripts/glossary.asp?Lang=E&Term=GST   (881 words)

 Alternative Collection Method for GST
However as the distributor would have paid the direct selling company the GST on the suggested retail price rather than on the smaller wholesale price, the distributor is able to in turn collect the GST from the retail purchaser.
In general when the GST amount collected by the distributor equals the amount paid by the distributor, the distributor then simply keeps the amount collected and Revenue Canada is satisfied because Revenue Canada has already had the GST amount remitted by the direct selling company.
Because the GST is a creature of tax legislation the general principles outlined above are inaccurate in many instances for which the statute and enforcement policy create exceptions and alternative procedures.
www.mlmstartup.com /articles/canada2.htm   (575 words)

 Goods and Services Tax (Canada) - Wikipedia, the free encyclopedia
The introduction of the GST was very controversial, and, in the subsequent 1993 general election, it was a contributing factor to the biggest defeat of a federal governing party in Canadian history.
The GST once again became an issue, as the Conservative Party of Canada reduced the tax by 1% (to 6%) on July 1, 2006 as part of an election promise, and had also promised to reduce it by another 1% at an unspecified point within the next four years.
On June 22, the budget was given Royal Assent and made law, meaning the first point reduction in the GST was implemented on July 1, 2006.
en.wikipedia.org /wiki/GST_(Canada)   (1594 words)

 An empirical note on the comparative macroeconomic effects of the GST in Australia, Canada and New Zealand Economic ...
It is concluded that not only was the GST highly successful in raising tax revenues, but it was also significant in terms of growth effects, price effects, current account effects, and the effect on the budget balance.
Prior to the introduction of the GST in each of the three countries, considerable public debate occurred concerning the probable costs and benefits of its introduction, including the nature and extent of any efficiency gains and the nature and magnitude of the macroeconomic effects.
In 1989, the GST was increased to 12.5 per cent, with income tax being restructured to two rates (24 per cent and 33 per cent) and the top company tax rate coming down to 28 per cent (but later it was increased to 33 per cent).
www.findarticles.com /p/articles/mi_m0PAO/is_1_24/ai_n13659461   (1018 words)

 Retail group 'baffled' by July 1 introduction date for GST cut
A group representing Canada's retailers is upset with the federal government's plan to introduce its GST cut on July 1.
Diane Brisebois, the president and CEO of the 40,000-member Retail Council of Canada, said she is "baffled by the fact that the GST reduction will be effective not only on Canada Day, a statutory holiday, but also the fact that it is a Saturday."
The reduction of the goods and services tax from seven per cent to six per cent means retailers will have to adjust their cash registers for the new tax rate.
www.cbc.ca /consumers/market/murmurs/archives/2006/20060504_gst.html   (361 words)

 Goods and Services Tax/Harmonized Sales Tax (GST/HST)
Information on the July 1st, 2006, reduction in the GST rate to 6%, and the HST rate to 14%.
An organization that is a registered charity in Canada.
You are obligated to pay GST/HST, but may be eligible to apply for a rebate of the tax you paid.
www.cra-arc.gc.ca /tax/business/topics/gst/menu-e.html   (160 words)

 Harper Promises GST reduction - Airsoft Canada
He noted that while the Liberals were in power the amount of GST taken from Canadians has doubled, from $15.9 billion to $31.8 billion.
GST reduction benefits every single person in this country, right down to the 10year old's weekly allowance spending.
Canada has 12 years experience there, and those of us in Ontario got the bonus feature as well.
www.airsoftcanada.com /showthread.php?t=18400   (1774 words)

 Goods and Services Tax (Canada) - Wikipedia, the free encyclopedia
The Canadian Goods and Services Tax (GST) (French: Taxe sur les produits et services, TPS) is a multi-level value-added tax introduced in Canada on January 1, 1991, by Prime Minister Brian Mulroney and finance minister Michael Wilson.
This avoids "cascading" (i.e., the application of the GST on the same good or service several times as it passes from business to business on its way to the final consumer).
Exported goods are exempt, while individuals with low incomes can receive a GST rebate calculated in conjunction with their income tax.
en.wikipedia.org /wiki/Goods_and_Services_Tax_(Canada)   (1594 words)

 PCLaw / PCLawPro GST Exempt
The Revenue Canada GST Policy Statement on Lawyers' GST Exempt Disbursements implies that on billings dated on or after April 1, 1997, disbursements paid from trust which are non-agency disbursements should also have GST applied.
Until an updated version to accommodate the tracking of GST on non-agency disbursements made in Trust is available, we are providing you with alternative methods to ensure proper billing on your current PCLawPro/PCLaw system.
Add "Total GST on Non-Agency Disbursements from Trust" before the invoice total, include this amount in the total GST for the invoice and put an * beside each Trust disbursements which is Agency and therefore non-taxable.
www.pclaw.com /news/pressrelease/gstexempt   (367 words)

 Canada Day means GST cut
Today, Canada Day, is when the Conservative government's 1% reduction to the GST comes into effect.
Secondly, there is to be a second cut of one percent, thus eliminating abot 30% of the GST tax.
Those low-income people get a GST rebate...sure they may have to wait until the end of the year to get it, but they do get that money back.
forums.canadiancontent.net /canadian-politics/48195-canada-day-means-gst-cut.html#post713722   (1134 words)

 Revenue canada gst Lion s gate bridge vancouver british columbia   (Site not responding. Last check: 2007-09-03)
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canadam.5gigs.com /revenue-canada-gst.html   (398 words)

 Canada Post - Collection of the GST part - Supplementary Services
The Goods and Service Tax (GST) is a value added consumption tax instituted by the Federal Government.
There are certain items sold by Canada Post that are not taxable such as Postal Money Orders, the fee on a Money Order and the exchange on a Money Order.
The GST is calculated on the total taxable purchase and rounded up or down to the nearest cent.
www.canadapost.ca /personal/offerings/supplementary_services_pers/can/collection-e.asp   (183 words)

 Finance Department At Odds With Government Over GST - SkyscraperCity   (Site not responding. Last check: 2007-09-03)
Finance Minister Jim Flaherty, whose upcoming budget will lower the GST, has been told by his department that Canada is already out of step with many peers because it relies relatively little on consumption taxes, and heavily on income taxes, to raise money.
In fact, Finance officials say, Canada's 7 per cent GST is relatively small compared with many other countries with value-added taxes — which are similar to sales taxes in that both are levied when goods and services are sold.
But the 700-staff department, which enacted the GST 15 years ago, is full of economists — and most economists applaud the 1991 levy as an efficient replacement of a badly functioning tax on manufactured goods that had been crimping business competitiveness.
www.skyscrapercity.com /showthread.php?t=342397   (909 words)

 GST cut starts on July 1
The Canada Revenue Agency said it's up to consumers to police the GST cut, as there are no fines for not dropping the tax, spokeswoman Jacinthe LeBlanc told CBC News.
Canada Post will assess more than 800,000 rural mailboxes across the country to determine whether they meet new safety standards established by the Crown corporation.
An American teacher exiled to Canada after he was convicted of sexually assaulting a student was arrested by Canadian border guards on Thursday.
www.cbc.ca /canada/story/2006/06/30/gst-drop.html?ref=rss   (1486 words)

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