Mish's Global Economic Trend Analysis Message Board

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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: Paxb2u who wrote (110891)	4/22/2010 6:50:48 PM
From: Cogito Ergo Sum	3 Recommendations Read Replies (1) of 116555

Same for Ontario... We have both Provincial (state) sales tax and the Federal GST (VAT).. The issue is that they will now be blended into one tax administered federally ...Some items such as new housing are currently subject to only GST.. but after the blending will be subject to the much higher tax.. Imagine the guy buying a 400K new home.. an extra 28K on the price... after July 1. Toronto has kicked around a city sales tax... but so far no go.. I don't believe that they have the right under law to levy one.

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