Further to yesterday's update of the old "You have two cows" study of economic systems, Agent 3 has filled in the blank for Canada.
You have two cows. Vous avez deux vaches. You pay HST on the cows, your milking machine, their feed and the water they drink. You sell government-inspected milk in government-inspected containers by the government-mandated litre, and you charge HST on the milk.
You spend hours every week completing government information forms, tax returns and applications for assistance. When your tax assessment comes, you are obliged to sell one of the cows to pay your accountant and what's owing on the taxes.
You go broke and apply for welfare. You are refused because you still have one cow. You starve to death. So does the cow.
Showing posts with label HST. Show all posts
Showing posts with label HST. Show all posts
Monday, March 12, 2012
Friday, October 30, 2009
What the HSP will mean to Ontarians
The following comes from Agent 23. Walt is signing the petition and hopes all Ontarians reading these words will unite to fight a regressive tax that punishes those who can least afford it.
Next summer the Ontario Government of Dalton McGuinty and Dwight Duncan -- pushed and cajoled by "Call Me Steve" Harper and Jim "What Recession?" Flahtery -- is set to put into force its new harmonized GST/PST. Thus a 13% sales tax will be applied to virtually everything we purchase.
Things that were not previously taxed under the current Ontario Provincial Sales Tax (PST) will be taxed at 8%. The new 13% tax will therefore apply to things like your electric bill, your gas bill, your water bill, condominium fees, insurance premiums, and every other good and service you purchase. There are almost no exemptions.
The current Ontario PST tax does not apply to services, nor does it apply to the purchase of certain goods. The new 13% tax will therefore extend the old 8% PST tax rate to the purchase of all goods and all services. You'll have to pay the new tax on your haircut!
The new HST will also apply to all purchases of all new homes. If a person were to purchase a new $1 million dollar home in Toronto, they would have to pay roughly $200,000 in taxes as a result of the Ontario land transfer tax, the new city of Toronto land transfer tax, and the new harmonized 13% GST/PST.
Think about that and what that would do to real estate values in Toronto. It will cause property values to fall and kill the new home construction industry and the jobs it creates. And it won't be long before you'll hear our elected representatives telling us that, because of the harm that has been inflicted to the new home construction industry by the new 13% tax, it would be "fair" to extend the new 13% tax to sales of existing homes.
Canadians have had two things that they have always been able to count on as being tax free - things that they could use to save money and accumulate wealth. They are your: (a) primary home; and (b) RRSP. That's it.The extension of the new 13% HST to homes is simply a tax assault by the government on your primary home. They want to tax your primary home and you will suffer because of it. Why? Because if a purchaser has to pay almost $200,000 in taxes to buy your $1 million dollar home, the purchaser is going to pay less to you for your home. The purchaser will reduce the amount he or she is willing to pay to you in order to pay all the taxes.
Your income tax will go up! The combined Federal/Ontario income tax rates are roughly 25% on the first $20,000 of taxable income, 42% on the next $40,000 of taxable income, and 46.5% on each dollar of taxable income over $60,000. On top of that you have to add the "Fair Share Health Tax" of up to $1,000 each of us has to pay.
If the Ontario Government gets away with implementing their new harmonized GST/PST sales tax of 13%, the top effective income tax rates in Ontario will be as follows (since you can't spend any of your tax paid dollars without paying the new harmonized 13% GST/PST tax): 38% on the first $20,000, 53% on the next $40,000, 59.5% on every dollar over $60,000.
On top of that, you have to pay your Ontario Fair Share Health Tax, your city realty taxes, your city garbage fees, your city water fees, your city street parking permit fees, your annual Ontario and new city of Toronto vehicle license plate fees, your Ontario land transfer tax, your new city of Toronto land transfer tax, your gasoline taxes, your liquor taxes, your air departure taxes, your entertainment taxes, and so on.
OF ALL THE MONEY YOU WORKED HARD TO EARN, WHAT PERCENTAGE ARE YOU REALLY KEEPING FOR YOUR OWN USE? 25%? 20%? 10%? ENOUGH IS ENOUGH - FIGHT BACK!
I URGE YOU TO TAKE THIS ISSUE SERIOUSLY AND TO FILL AND AND SIGN THE PETITION AGAINST THE NEW HST AT www.unfairtaxgrab.com.
When you visit the site you'll see that it's an NDP initiative. Even though the NDP has a snowball's chance of forming the next provincial government, Walt congratulates them for leading the fight against the HST. The McGuinty Liberals have proposed it, the federal Liberals are waffling, and the provincial Tories are sitting firmly on the fence. claims "no one is complaining" about his unfair tax grab. You proved him wrong this week.
Every now and then -- as in the Maid of the Mist lease story yesterday -- the voice of the people prevails! Sign the petition! Pass this post on to your friends, your family, your neighbours...everybody! Together we can stop the HST!
Next summer the Ontario Government of Dalton McGuinty and Dwight Duncan -- pushed and cajoled by "Call Me Steve" Harper and Jim "What Recession?" Flahtery -- is set to put into force its new harmonized GST/PST. Thus a 13% sales tax will be applied to virtually everything we purchase.
Things that were not previously taxed under the current Ontario Provincial Sales Tax (PST) will be taxed at 8%. The new 13% tax will therefore apply to things like your electric bill, your gas bill, your water bill, condominium fees, insurance premiums, and every other good and service you purchase. There are almost no exemptions.
The current Ontario PST tax does not apply to services, nor does it apply to the purchase of certain goods. The new 13% tax will therefore extend the old 8% PST tax rate to the purchase of all goods and all services. You'll have to pay the new tax on your haircut!
The new HST will also apply to all purchases of all new homes. If a person were to purchase a new $1 million dollar home in Toronto, they would have to pay roughly $200,000 in taxes as a result of the Ontario land transfer tax, the new city of Toronto land transfer tax, and the new harmonized 13% GST/PST.
Think about that and what that would do to real estate values in Toronto. It will cause property values to fall and kill the new home construction industry and the jobs it creates. And it won't be long before you'll hear our elected representatives telling us that, because of the harm that has been inflicted to the new home construction industry by the new 13% tax, it would be "fair" to extend the new 13% tax to sales of existing homes.
Canadians have had two things that they have always been able to count on as being tax free - things that they could use to save money and accumulate wealth. They are your: (a) primary home; and (b) RRSP. That's it.The extension of the new 13% HST to homes is simply a tax assault by the government on your primary home. They want to tax your primary home and you will suffer because of it. Why? Because if a purchaser has to pay almost $200,000 in taxes to buy your $1 million dollar home, the purchaser is going to pay less to you for your home. The purchaser will reduce the amount he or she is willing to pay to you in order to pay all the taxes.
Your income tax will go up! The combined Federal/Ontario income tax rates are roughly 25% on the first $20,000 of taxable income, 42% on the next $40,000 of taxable income, and 46.5% on each dollar of taxable income over $60,000. On top of that you have to add the "Fair Share Health Tax" of up to $1,000 each of us has to pay.
If the Ontario Government gets away with implementing their new harmonized GST/PST sales tax of 13%, the top effective income tax rates in Ontario will be as follows (since you can't spend any of your tax paid dollars without paying the new harmonized 13% GST/PST tax): 38% on the first $20,000, 53% on the next $40,000, 59.5% on every dollar over $60,000.
On top of that, you have to pay your Ontario Fair Share Health Tax, your city realty taxes, your city garbage fees, your city water fees, your city street parking permit fees, your annual Ontario and new city of Toronto vehicle license plate fees, your Ontario land transfer tax, your new city of Toronto land transfer tax, your gasoline taxes, your liquor taxes, your air departure taxes, your entertainment taxes, and so on.
OF ALL THE MONEY YOU WORKED HARD TO EARN, WHAT PERCENTAGE ARE YOU REALLY KEEPING FOR YOUR OWN USE? 25%? 20%? 10%? ENOUGH IS ENOUGH - FIGHT BACK!
I URGE YOU TO TAKE THIS ISSUE SERIOUSLY AND TO FILL AND AND SIGN THE PETITION AGAINST THE NEW HST AT www.unfairtaxgrab.com.
When you visit the site you'll see that it's an NDP initiative. Even though the NDP has a snowball's chance of forming the next provincial government, Walt congratulates them for leading the fight against the HST. The McGuinty Liberals have proposed it, the federal Liberals are waffling, and the provincial Tories are sitting firmly on the fence. claims "no one is complaining" about his unfair tax grab. You proved him wrong this week.
Every now and then -- as in the Maid of the Mist lease story yesterday -- the voice of the people prevails! Sign the petition! Pass this post on to your friends, your family, your neighbours...everybody! Together we can stop the HST!
Sunday, October 11, 2009
Stop the unfair tax grab! Sign the petition against the HST!
The following comes from a source who must remain anonymous...
Was the Liberal Budget presented to Ontario on 26 March 2009, a tax grant or a tax grab? Depending on whose politics or what lobbyists, the answer will be GRANT! Or GRAB! ..... Or somewhere in between.
Our staff did something different. We read the Budget document, called the Ministry Office for details, and added up the numbers. Then, we looked at the results as to how these proposals would affect the retired, or soon to be retired. It tired us out! Our Report follows. We would encourage you to forward this Report to friends and family. There is a very real need to plan for retirement comfort -- even more so, with the proposals recently introduced.
THE TAX GRAB -- 8% more for NOTHING more
Seniors living in retirement enjoy a lifestyle different than the one they lived while working. In retirement, to be active often means paying a fee, a membership, an admission, a subscription or for costs for travel, etc. We have calculated that the impact of this Liberal Budget will be more costly for Ontario seniors than anyone has reported.
Consider a retired couple, receiving total retirement income of $41,400 after tax per year*, healthy enough to enjoy some comfort in retirement. Many of those items used on a daily basis will now be subject to an 8% cost increase, because of the new harmonized sales tax introduced by the Liberal provincial government in this Budget.
Look at just a few of those items that will cost more, without getting more.
Cable TV: if $60 monthly, yearly increase is $57.60 more.
Golf Fees: if $1,500 yearly X 2, yearly increase is $240.00 more
Gym Membership: if $35 month X 2, yearly increase is $67.20 more.
Hydro: if $85 monthly, yearly increase is $81.60 more.
Haircuts: if $450 X 2 annually, yearly increase is $72.00 more.
Heating Fuel: if $800 annually, yearly increase is $64.00 more.
Internet: If $65 monthly, yearly increase is $62.40 more.
Income Tax Prep. If cost is $150 X 2, yearly increase is $24.00 more.
Legal Fees: for wills, P.Of A., advice, etc. If $400, add 8%, $32.00 more.
London Knights tickets: 4 games X 2, yearly incr. Is $11.52 more (note Senior Season Ticket $484 X 2, yearly increase is $77.4 4 more)
Magazine Subscription: $25 annually X 4, increase is $8.00 more
Movie Tickets: one per month X 2, yearly increase is $16.32 more
Newspapers Subscription: $20 monthly, yrly incr. Is $18.91 more
RRIF/RRSP**: $400,000 family savings, yrly incr. $1,040.00 more. **This is a NEW HIDDEN TAX OF $52 per $20,000 on deposit, ANNUALLY
Telephone: if $48 monthly, yearly increase is $46.08 more
Tim Hortons Coffee: 3 per week X 2, yrly increase is $41.18.
Toronto Theatre: 2 X $150 ticket, yrly increase $24.00
Vacation Travel: $450 airline ticket X 2, yrly increase $76.00 more
Veterinarian: Beagle is Family! Add $32.00 more.
Vitamins: $60 monthly X 2, yrly increase $115.20 more
Are you ready for the TAX KICK coming?
For just these listed items***NEW TAXES OVER $2,100.00 MORE EVERY YEAR ..!!
THIS TAX IS COMING IN 2010
Go to this website to sign a petition against the new HST (harmonized sales tax).
www.unfairtaxgrab.com
Note from Walt: When you go to the website, you'll find it's sponsored by the NDP. God forbid that we should ever again have an NDP government in Ontario -- remember Rae! -- but you'll find that they are the only party fighting against the HST. Why don't the provincial Tories oppose it? Where's their great white hope, Tim Hudak, in this debate? Nowhere!
Do you want to know why? Because the HST is not just the will or fault of the provincial Liberals. It is just as much the wish and fault of the federal Conservatives, the government of "Call Me Steve" Harper. So much does Harpoon want McGuinty to wear this one, that he (or his finance minister, Jim Flattery) has sweetened the deal with a "grant" of $4 billion to ease the pain...and help Dwight Dunkin Donuts balance the books a tad sooner
Make no mistake, fellow citizens! HST really stands for Harper Sales Tax! It was Mulroney that brought us the GST, and now his successor aims yet another kick at our pocketbooks...and sucks McGuinty into joining in kicking us while we're down.
A Boomer Wealth Coach Analysis for Ontario Seniors
Was the Liberal Budget presented to Ontario on 26 March 2009, a tax grant or a tax grab? Depending on whose politics or what lobbyists, the answer will be GRANT! Or GRAB! ..... Or somewhere in between.
Our staff did something different. We read the Budget document, called the Ministry Office for details, and added up the numbers. Then, we looked at the results as to how these proposals would affect the retired, or soon to be retired. It tired us out! Our Report follows. We would encourage you to forward this Report to friends and family. There is a very real need to plan for retirement comfort -- even more so, with the proposals recently introduced.
THE TAX GRAB -- 8% more for NOTHING more
Seniors living in retirement enjoy a lifestyle different than the one they lived while working. In retirement, to be active often means paying a fee, a membership, an admission, a subscription or for costs for travel, etc. We have calculated that the impact of this Liberal Budget will be more costly for Ontario seniors than anyone has reported.
Consider a retired couple, receiving total retirement income of $41,400 after tax per year*, healthy enough to enjoy some comfort in retirement. Many of those items used on a daily basis will now be subject to an 8% cost increase, because of the new harmonized sales tax introduced by the Liberal provincial government in this Budget.
Look at just a few of those items that will cost more, without getting more.
Cable TV: if $60 monthly, yearly increase is $57.60 more.
Golf Fees: if $1,500 yearly X 2, yearly increase is $240.00 more
Gym Membership: if $35 month X 2, yearly increase is $67.20 more.
Hydro: if $85 monthly, yearly increase is $81.60 more.
Haircuts: if $450 X 2 annually, yearly increase is $72.00 more.
Heating Fuel: if $800 annually, yearly increase is $64.00 more.
Internet: If $65 monthly, yearly increase is $62.40 more.
Income Tax Prep. If cost is $150 X 2, yearly increase is $24.00 more.
Legal Fees: for wills, P.Of A., advice, etc. If $400, add 8%, $32.00 more.
London Knights tickets: 4 games X 2, yearly incr. Is $11.52 more (note Senior Season Ticket $484 X 2, yearly increase is $77.4 4 more)
Magazine Subscription: $25 annually X 4, increase is $8.00 more
Movie Tickets: one per month X 2, yearly increase is $16.32 more
Newspapers Subscription: $20 monthly, yrly incr. Is $18.91 more
RRIF/RRSP**: $400,000 family savings, yrly incr. $1,040.00 more. **This is a NEW HIDDEN TAX OF $52 per $20,000 on deposit, ANNUALLY
Telephone: if $48 monthly, yearly increase is $46.08 more
Tim Hortons Coffee: 3 per week X 2, yrly increase is $41.18.
Toronto Theatre: 2 X $150 ticket, yrly increase $24.00
Vacation Travel: $450 airline ticket X 2, yrly increase $76.00 more
Veterinarian: Beagle is Family! Add $32.00 more.
Vitamins: $60 monthly X 2, yrly increase $115.20 more
Are you ready for the TAX KICK coming?
For just these listed items***NEW TAXES OVER $2,100.00 MORE EVERY YEAR ..!!
THIS TAX IS COMING IN 2010
Go to this website to sign a petition against the new HST (harmonized sales tax).
www.unfairtaxgrab.com
Note from Walt: When you go to the website, you'll find it's sponsored by the NDP. God forbid that we should ever again have an NDP government in Ontario -- remember Rae! -- but you'll find that they are the only party fighting against the HST. Why don't the provincial Tories oppose it? Where's their great white hope, Tim Hudak, in this debate? Nowhere!
Do you want to know why? Because the HST is not just the will or fault of the provincial Liberals. It is just as much the wish and fault of the federal Conservatives, the government of "Call Me Steve" Harper. So much does Harpoon want McGuinty to wear this one, that he (or his finance minister, Jim Flattery) has sweetened the deal with a "grant" of $4 billion to ease the pain...and help Dwight Dunkin Donuts balance the books a tad sooner
Make no mistake, fellow citizens! HST really stands for Harper Sales Tax! It was Mulroney that brought us the GST, and now his successor aims yet another kick at our pocketbooks...and sucks McGuinty into joining in kicking us while we're down.
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