Monday, November 16, 2009

Harmonization of PST and GST

Corporations should prepare their owners now for a minimum 5-7% increase in 2010.

The Federal Government intends to harmonize the GST and PST effective July 2010 (subject to Parliamentary approval). The governments position is that vendors and retailers will lower their current prices by an amount equal to the PST and then charge the GST. In a perfect world, this scenario would increase the cost of your purchases by approximately 5-6%.

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