It's the tax cut that keeps screwing us over
Let me count the ways that the GST cut is screwing us over:
-"The Canada Revenue Agency has also said it's up to consumers to police the GST cut, as there are no fines for businesses that do not decrease the tax."
How can there be no fines? It's an extra cost to the business to reprogram cash registers so of course there are going to be some who try and get away with not changing it. There needs to be fines. So unless we consumers are diligent we might not see any savings from the tax cut from some businesses.
-"Well, hate to rain on your parade, but we're still getting ripped off..."
Big surprise.
-"Without the fanfare of the GST reduction, the government has also lowered the amount Canadians can earn tax free by $400 while raising the tax rate for the lowest income bracket from 15 to 15.5 per cent."
Harper sure loves to help the little guy.
-"[A penny] is what I saved today on my cup of Timmies with Harper’s vote buying GST cut. Meanwhile, Canadians will shell out approximately $300 million on debt servicing charges this year that could have been saved if the Conservatives had put that money toward paying down our debt instead of using it as a bribe."
Great!
And to update those wondering how much I have saved since the tax cut took effect, I haven't spent any money. So the answer is nothing. Woo hoo 1% GST cut!
posted by Bridget @ 10:11 AM
5 Comments:
you should buy a unicorn, then you'd see some savings!
That would be the only way I would see any real saving.
Unicorns aren't taxed, anyway: mythical creatures are neither services nor goods!
I think it would be a priceless investment with huge returns.
..aren't unicorns one of those items that have the GST built into the price..? That's been my experience.
I don't think the unicorns are getting marked down.
In Canada, Unicorns fall under the jurisdiction of the department of federal housing for some reason. As such, the tax rate varies with the prime mortgage rate, which tends to hover around 6%.
However, as unicorns are always priced using imaginary numbers, their prices can be tricky, especially when considering taxes, or for those lucky enough to already own a unicorn, tax rebates! For instance, If you were to calculate the tax on a heard of 6 unicorns your equation would go something like:
TAX = 0.06650 (6ui) + m
Where 0.06650 is the tax rate on a one year closed purchase on unicorns, u is the average price of the unicorns being purchased, i represents the imaginary plane, and m is the compound interest rate that pops up when purchasing any type of object that may never appear on your door step.
Unicorns are good at screwing over homeowners.. after all they have a 3 foot long screw right next to one of their winking eyes!
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