Comments on: The cost of harmonization http://www.canadiancapitalist.com/the-cost-of-harmonization/ Helping you invest and prosper Mon, 15 Mar 2010 05:12:52 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Bob Cowan http://www.canadiancapitalist.com/the-cost-of-harmonization/#comment-190152 Bob Cowan Mon, 27 Apr 2009 20:04:00 +0000 http://www.canadiancapitalist.com/?p=1939#comment-190152 What about home insurance? I see auto insurance, I assume home as well... What about home insurance?
I see auto insurance, I assume home as well…

]]> By: A Week in Review: Edition #4 | My Findependence Day http://www.canadiancapitalist.com/the-cost-of-harmonization/#comment-187045 A Week in Review: Edition #4 | My Findependence Day Sat, 28 Mar 2009 17:57:28 +0000 http://www.canadiancapitalist.com/?p=1939#comment-187045 [...] - Canadian Capitalist gives an overview of the harmonization tax (HST). I don’t like it but it would be easier to [...] [...] – Canadian Capitalist gives an overview of the harmonization tax (HST). I don’t like it but it would be easier to [...]

]]> By: Beth http://www.canadiancapitalist.com/the-cost-of-harmonization/#comment-186924 Beth Fri, 27 Mar 2009 16:20:07 +0000 http://www.canadiancapitalist.com/?p=1939#comment-186924 Ooops. I meant to sarcastically ask if married people had to pay more tax than single people. Consider: I'm single, so I get the $300. My married friends get a combined $1000, which works out to $500 per person. I'm all for single parents and families getting a bigger break, but dual income, no kid families already have a significant financial advantage over the rest of us (two incomes per household as opposed to one!) Anyhow, here's how the numbers play out: http://www.fin.gov.on.ca/english/budget/ontariobudgets/2009/chpt3.html#table2 Ooops. I meant to sarcastically ask if married people had to pay more tax than single people.

Consider: I’m single, so I get the $300. My married friends get a combined $1000, which works out to $500 per person.

I’m all for single parents and families getting a bigger break, but dual income, no kid families already have a significant financial advantage over the rest of us (two incomes per household as opposed to one!)

Anyhow, here’s how the numbers play out:

http://www.fin.gov.on.ca/english/budget/ontariobudgets/2009/chpt3.html#table2

]]> By: Beth http://www.canadiancapitalist.com/the-cost-of-harmonization/#comment-186922 Beth Fri, 27 Mar 2009 16:12:35 +0000 http://www.canadiancapitalist.com/?p=1939#comment-186922 I don't understand the math behind that little bonus we're getting for the "transitional period". Families of two or more people get $1000, but single people only get $300. So two married people with no kids get $400 more than two individuals. How does that compensate for the amount of additional tax we're going to be paying? Married people somehow have to pay for tax per person than single people? Worse yet, they get the same amount of money as a family with four kids. Sure, a lot of children's items won't have the additional tax, but is a childless couple really going to spend as much on additional taxes as a large family. I don't think so. Please tell me: Is there something I'm missing? I don’t understand the math behind that little bonus we’re getting for the “transitional period”. Families of two or more people get $1000, but single people only get $300.

So two married people with no kids get $400 more than two individuals. How does that compensate for the amount of additional tax we’re going to be paying? Married people somehow have to pay for tax per person than single people?

Worse yet, they get the same amount of money as a family with four kids. Sure, a lot of children’s items won’t have the additional tax, but is a childless couple really going to spend as much on additional taxes as a large family. I don’t think so.

Please tell me: Is there something I’m missing?

]]> By: Big Oil Merger, Sales Taxes and Weekend Reading | Million Dollar Journey http://www.canadiancapitalist.com/the-cost-of-harmonization/#comment-186883 Big Oil Merger, Sales Taxes and Weekend Reading | Million Dollar Journey Fri, 27 Mar 2009 11:31:01 +0000 http://www.canadiancapitalist.com/?p=1939#comment-186883 [...] You can read more about this on Canadian Capitalist. [...] [...] You can read more about this on Canadian Capitalist. [...]

]]> By: ERMT http://www.canadiancapitalist.com/the-cost-of-harmonization/#comment-186751 ERMT Thu, 26 Mar 2009 13:34:51 +0000 http://www.canadiancapitalist.com/?p=1939#comment-186751 contractors and thus home renovations. contractors and thus home renovations.

]]> By: Canadian Tax Resource http://www.canadiancapitalist.com/the-cost-of-harmonization/#comment-186750 Canadian Tax Resource Thu, 26 Mar 2009 13:26:01 +0000 http://www.canadiancapitalist.com/?p=1939#comment-186750 The management fees charged to mutual funds includes GST and its reflected in the MER. When the GST was reduced, this would have been reflected in the MER. As a result of the GST decrease, the net return to investors in mutual funds would have gone up. If the HST is charged to the fund, the overall MER will increase 8%. I calculate that over 25 years it would cost an investor $15,000 in returns (in an RRSP). The management fees charged to mutual funds includes GST and its reflected in the MER. When the GST was reduced, this would have been reflected in the MER. As a result of the GST decrease, the net return to investors in mutual funds would have gone up. If the HST is charged to the fund, the overall MER will increase 8%. I calculate that over 25 years it would cost an investor $15,000 in returns (in an RRSP).

]]> By: Rob http://www.canadiancapitalist.com/the-cost-of-harmonization/#comment-186747 Rob Thu, 26 Mar 2009 13:00:14 +0000 http://www.canadiancapitalist.com/?p=1939#comment-186747 Ray, you mean "no 8% PST added" - correct? Ray, you mean “no 8% PST added” – correct?

]]> By: Ray http://www.canadiancapitalist.com/the-cost-of-harmonization/#comment-186695 Ray Thu, 26 Mar 2009 00:42:05 +0000 http://www.canadiancapitalist.com/?p=1939#comment-186695 Some more info came out a little while ago: $1000 cash to families with income below $160k no 8% GST added to children’s clothing and shoes, books, feminine hygiene products, child car seats, diapers and new homes under $400,000. Some more info came out a little while ago:

$1000 cash to families with income below $160k
no 8% GST added to children’s clothing and shoes, books, feminine hygiene products, child car seats, diapers and new homes under $400,000.

]]> By: Canadian Capitalist http://www.canadiancapitalist.com/the-cost-of-harmonization/#comment-186652 Canadian Capitalist Wed, 25 Mar 2009 20:46:20 +0000 http://www.canadiancapitalist.com/?p=1939#comment-186652 EconStudent: Yes, GST is paid on ETF MERs too. And yes, that will likely go up as well. Al: I think you're right. Would it mean that there will be no tax on used cars purchased privately now? I think so. EconStudent: Yes, GST is paid on ETF MERs too. And yes, that will likely go up as well.

Al: I think you’re right. Would it mean that there will be no tax on used cars purchased privately now? I think so.

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