BC to be an emerging global economy by 2018

HST report: giant leap forward for investment, jobs.

Ministry of Finance.

Sales tax harmonization and corporate tax cuts will increase capital investment by $14.4 billion and result in a net increase of 141,000 jobs by the end of the coming decade according to a report released today by economist and tax expert Jack Mintz, announced Finance Minister Colin Hansen. [Read more]

BC taxes must be competitive with Alberta — McGrath

Liberal payoffs never end — HST ‘break’ latest in long line of rewards to friends and insiders.

In a stunning move laced with cynicism and cronyism, the BC Liberals have once again rewarded friends close to the government with their recent flip-flop on the new house construction HST rebate announced yesterday.

The Liberals, under pressure from the construction industry, changed the HST exemption from homes under $400,000 to homes under $520,000 that will now be HST exempt. [Read more]

HST transition for new housing

Province increases new housing rebate threshold.

Ministry of Finance.

The Province is proposing to increase the threshold for the B.C. HST new housing rebate from $400,000 to $525,000 to ensure that, on average, purchasers of new homes up to $525,000 pay no more tax due to harmonization, Finance Minister Colin Hansen announced today.

“We heard the concerns from consumers and industry about how the HST might affect home buyers, and this increase will move the threshold to above the average new home price in the province. At $26,250, this provides the highest maximum provincial rebate in Canada,” said Hansen. “A similar rebate will also support the construction or substantial renovation of affordable rental housing.” [Read more]

HST — harmonized is globalized

by Hank Munro.

Today I re-read the CVNews October 16, 2009 announcement from BC’s Finance Minister, Colin Hansen, in which he was laying out “transition rules” which are meant to give clarity to businesses and consumers about the implementation of the HST (“Harmonized” Sales Tax) about to take effect on July 1, 2010. These ‘rules’ are to “ensure that taxpayers are properly prepared in the lead-up to harmonization.”

Then I read the August 27, 2009 article of one Mr. Carl Beck, CMA. Following that, I spent a considerable amount of time reading the BC government’s information for taxpayers about just how great this “Harmonized” Sales Tax will be for the economic welfare of British Columbia businesses and, as a result, the British Columbia consumer. I just couldn’t help writing to you. [Read more]

HST transition rules

Transition rules give clarity to businesses, consumers.

The Government of B.C. has released proposed general transitional rules to help guide businesses and consumers in a smooth changeover to the proposed Harmonized Sales Tax (HST), Finance Minister Colin Hansen announced today.

“B.C. is working to provide businesses and consumers with the technical guidelines to ensure the smoothest possible transition to a single harmonized sales tax on July 1, 2010,” said Hansen. “The clarity provided by the transitional rules will ensure that taxpayers are properly prepared in the lead-up to harmonization.” [Read more]

HST: good for business, bad for workers

The B.C. Federation of Labour is calling on the Campbell government to cancel the HST agreement with Ottawa.

“At a time of great economic uncertainty, when BC is losing full-time jobs faster than any other province in Canada, the last thing the Campbell government should be doing is adding to the tax burden of workers in BC,” says Jim Sinclair, President of the B.C. Federation of Labour. “This tax is a simple case of robbing David to pay Goliath.”

The HST represents the largest tax shift in the history of the province. Corporations will see a $1.9 billion cut in taxes while individuals will pay on average an additional $800. [Read more]

HST agreement may increase federal share

Liberals plan to give portion of PST revenue to Feds in new HST.

BC Conservative Deputy Leader, Chris Delaney, says he believes the BC Liberal government may be planning to assign 1% of its 7% share of HST revenues to the federal government under the new “harmonized sales tax” (HST).

The source of Delaney’s suspicion is the Memorandum of Agreement (MOA) that outlines the structure of the HST. The MOA was drafted this past July, and was signed by BC Finance Minister, Colin Hansen and federal Minister of Finance, Jim Flaherty. [Read more]

"Become an active participant in your democracy" — Macdonald

MLA report –

If you think the Harmonized Sales Tax (HST) is a bad idea, and you want to stop it, the following headline in the September 3rd Vancouver Sun is very good news.

Victoria backs down on arts funding cuts after outcry

Here is proof positive that if people speak out loudly and strongly, even the most out of touch government can be forced to react. [Read more]

HST will hit restaurants hard

B.C. budget leaves restaurant industry hungry for answers.

Today’s budget leaves the province’s restaurant and foodservice industry hungry for answers on how the government will offset the negative impact of the 12% HST on restaurant sales.

“As it stands, there is nothing in this budget to offset the significant negative impacts of the HST on the restaurant industry. Even Finance Minister Hansen recognizes that the restaurant industry will be hurt by the HST,” says Garth Whyte, President and CEO of the Canadian Restaurant and Foodservices Association (CRFA). “We are encouraged that the government has publicly stated that it is open to working with us to mitigate the impacts.” [Read more]

Budget ignores job losses and climbing unemployment

The provincial budget update released today by Finance Minister Colin Hansen ignores the hardships faced by tens of thousands of unemployed British Columbians and their families, focussing instead on minimizing the deficit and tax cuts.

“This budget is another spin doctor’s dream, until you walk out the door into the real world and realize that we have more than 150,000 people without jobs, forest communities in crisis, seniors without proper care and students without a chance to get a decent education or proper training,” says Jim Sinclair, President of the B.C. Federation of Labour. [Read more]