Sales Taxes In Canada
In Canada, three types of sales taxes are levied. These are as follows:
- Provincial sales taxes (PST), levied by the provinces
- Goods and Services Tax (GST), a value-added tax levied by the federal government
- The combined Harmonized Sales Tax (HST), also a value-added tax, a single, blended combination of the PST and GST which is used in British Columbia, Ontario, and the Atlantic provinces of New Brunswick, Newfoundland and Labrador, and Nova Scotia. The HST is then collected by the Canada Revenue Agency, which then remits the appropriate amounts to the participating provinces.
Every province except Alberta has implemented either a provincial sales tax or the Harmonized Sales Tax. The federal GST rate is 5 percent, effective January 1, 2008.
The territories of Yukon, Northwest Territories, and Nunavut do not have either the HST or territorial sales taxes. Only the GST is collected. The three northern jurisdictions are heavily subsidized by the federal government, and its residents receive some additional tax concessions due to the high cost of living in the north.
Read more about Sales Taxes In Canada: Provincial Sales Taxes
Famous quotes containing the words sales, taxes and/or canada:
“The damned are in the abyss of Hell, as within a woeful city, where they suffer unspeakable torments, in all their senses and members, because as they have employed all their senses and their members in sinning, so shall they suffer in each of them the punishment due to sin.”
—St. Francis De Sales (15671622)
“Note, besides, that it is no more immoral to directly rob citizens than to slip indirect taxes into the price of goods that they cannot do without.”
—Albert Camus (19131960)
“In Canada an ordinary New England house would be mistaken for the château, and while every village here contains at least several gentlemen or squires, there is but one to a seigniory.”
—Henry David Thoreau (18171862)