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Total: 170.00$ HST: 25.50$ Grand total: 195.50$ HUH???
Message
From
25/08/2005 02:55:40
 
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Forum:
Level Extreme
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Miscellaneous
Thread ID:
01043652
Message ID:
01043716
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25
>Ed,
>
>Wow a 15% sales tax. Do ya'll have federal/provinical income taxes up there as well?
>
>In the states whre I've lived, Missouri and Virginia the state income tax + sales tax was combined was around 8-10%. In Texas there is no income tax, but the sales tax is 8% so on the whole they about even out.
>
>>HST is Harmonized Sales Tax meaning it is a combination of 2 taxes, provincial 8% and federal 7%.

David,
Are you kidding? :) Of course we have federal and provincial income tax... Canadians have the distinction of carrying one of the heaviest tax burdens on the planet to support our governments' wasteful...er, social programs!

Actually, I just looked it up... in 2002 we are about in the middle of OECD countries for taxes as a percentage of GDP.

The feds have the 7% GST (Goods and Services Tax) replacing a hidden FST (15% I think it was).
The provinces set their own tax rate... e.g. oil-rich Alberta has no sales tax, Ontario has 8% and New Brunswick (Universal Threadland) lets the feds collect both GST and PST (the 15% HST). Confused yet?

The feds collect federal and provincial income taxes... all parties set their own rates.

According to the Fraser Institute, my "Tax Freedom Day" is June 5. Theoretically, every dollar I earn in 1 year is paid as taxes until June 5th. After that, it's party time! http://www.fraserinstitute.ca/shared/taxcalc.asp
Have I enticed you to move yet?
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