The Harmonized Sales Tax (HST) has had more of an impact on Ontario and British Columbia than was expected. British Columbia's Premier Gordon Campbell resigned as a direct result of voter unpopularity of the HST. Many are feeling the added pinch in higher prices. It is affecting an already soft real estate market in Ontario. It is affecting the way we shop, where we shop and how we go about our daily lives. Here is a recent video Federal Research Director Derek Fildebrandt being interviewed on the impact of the HST in Ontario and British Columbia.
From a personal Canadian perspective we have our house on the market. Do you know if we sell that we pay HST on the real estate commission which means the Ontario government ends ups with over $2,000 of our very hard earned equity? Let's see we pay taxes to live here, taxes to support local schools, taxes for any repairs and maintenance, taxes on our utilities but that is not good enough? Now the McGuinty government has to grab into the equity we have built up in our house! In addition to that our hydro bill has increased by $8, our cruddy internet service by $7 even though our tax dollars paid for a grant to get decent internet service to our areas and the CRTC says we have to pay 100% for 40% service, our gas bill has increased by $8 and on average we pay $20 extra on vehicle gas. You know what that stupid rebate they send is not doing anything to cover the costs of the HST! When the people of Ontario realize that hopefully McGuinty will be doing the same thing Campbell did.