HST: Good for Businesses and Consumers
OTTAWA, Dec. 18 /CNW Telbec/ - Today, the Canadian Automobile Dealers Association (CADA), which represents over 3,500 dealers nationwide, applauded the governments of Ontario and British Columbia, as well as the federal government, for the adoption of the Harmonized Sales Tax (HST).
CADA believes that the harmonization of the Provincial Sales Tax (PST) and the Goods and Services Tax (GST) will result in a reduced administrative burden for businesses and the creation of hundreds of thousands of new jobs in both provinces.
"Harmonization is the right thing to do", said Michael Hatch, CADA's Chief Economist. "Dealers, like all other business owners, welcome changes which will enhance the business climate - and that is exactly what the HST and accompanying tax modifications will do."
Hatch said that when the HST was implemented in the Atlantic Provinces more than ten years ago, consumer prices went down as a result of the tax savings enjoyed by businesses.
"Most importantly," said Hatch, "the HST implementation is significant to economic growth because it will benefit consumers as much as it does businesses."
A recent study by taxation expert Jack Mintz concluded it would create as many as 600,000 jobs in Ontario alone. Another recent study, published by the Canadian Centre for Policy Alternatives, concluded that the HST and associated tax measures would result in most people being better off.
"In these difficult economic times, we must do all we can to enhance the productivity and competitiveness of Canadian businesses, the engine of economic growth. Harmonizing provincial and federal sales taxes is a significant step in the right direction," concluded Hatch.
The Canadian Automobile Dealers Association (CADA) is the national association for franchised automobile dealerships that sell new cars and trucks. Our 3,500 dealers represent a key sector of Canada's economy. Through our dealers, we are represented in nearly every community and those dealers collectively employ over 140,000 people across the country.
SOURCE Canadian Automobile Dealers Association (CADA)
For further information: For further information: Catherine Fortin LeFaivre, CADA Public Affairs, Toll free: 1-800-465-3054, Tel: (613) 230-2079, Cell: (613) 447-1543, Email: firstname.lastname@example.org