GST in CANADA
By: – Nagesh Bajaj
Goods and Services Tax – GST
Dated:- 3-10-2011<\/p>\n
In Canada Goods and Services Tax (GST) is a multi-level value added tax introduced on January 1, 1991, by Prime Minister Brian Mulroney and Finance Minister Michael Wilson. The GST replaced a hidden 13.5% Manufacturers' Sales Tax (MST); Mulroney claimed the GST was implemented because the MST hurt the manufacturing sector's ability to export and also replaced the Federal Telecommunications Tax of 11%.The introduction of the GST was very controversial. As of May 18th, 2010, the GST rate is 5%.
\nThe European model has helped to become the Canada's economy more efficient and competitive with lower-priced goods in the international market. However, the effects of the GST in this realm are quite modest, and are regularly swamped by large changes in the exchange rate. The transparent nature of the GST has kept Canadians acutely aware of their taxation.
\n The Conservative Party of Canada reduce<\/p>\n
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Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n oducts and services are exempt from GST. Such as = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n nces Newfoundland and Labrador, Nova Scotia, and New Brunswick do not collect PST. They instead collect HST or Harmonized Sales tax which currently sits at 13%. = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n","protected":false},"excerpt":{"rendered":" GST in CANADABy: – Nagesh BajajGoods and Services Tax – GSTDated:- 3-10-2011 In Canada Goods and Services Tax (GST) is a multi-level value added tax introduced on January 1, 1991, by Prime Minister Brian Mulroney and Finance Minister Michael Wilson. The GST replaced a hidden 13.5% Manufacturers' Sales Tax (MST); Mulroney claimed the GST was … Continue reading “GST in CANADA”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-484","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/484","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=484"}],"version-history":[{"count":0,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/484\/revisions"}],"wp:attachment":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=484"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=484"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=484"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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\n * Most health, medical, and dental services performed by licensed physicians or dentists for medical reasons;
\n * Child-care services;
\n * Long-term residential accommodation;
\n * Most goods and services provided by charities etc.
\nSeveral situations would require rebates, such as:
\n * Amounts paid in error;
\n * Being a registered aboriginal person, tribal council member or band employed employee;
\n * Specified services supplied to an investment plan or segregated fund;
\n * Non-resident recipient of a taxable supply of an installation service.
\n * Indians, Indian bands, and unincorporated band-empowered entities do not pay GST\/HST on Canada
\n GST\/HST on taxable goods and services must be paid by diplomatic missions, consular posts, international organizations, diplomatic agents, consular officers, and designated officials of international organizations. They are however eligible to claim a GST\/HST rebate, by filling out a GST\/HST Reba<\/p>\n
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\nOntario also intends to collect HST instead of GST+PST starting from July 1, 2010 but yet it is a debatable issue. The Harmonized Sales Tax replaces the combination of GST and PST. To make the matters worse there are some goods and or services that only GST apply to them or they are exempt from both GST and PST. To reduce the level of complexity Federal government encourages provinces to use HST which is a single tax that replaces both GST and PST.
\nTo sum up the above there is still controversy in Ontario on the implementation of the HST.
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\nAuthor: Nagesh Bajaj
\nLawCrux Advisors (P) Lt<\/p>\n
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