Changes to the QST system - Reminder from Revenu Québec that the changes will not affect the total paid on purchases

QUÉBEC CITY, Dec. 17, 2012 /CNW Telbec/ - Revenu Québec would like to remind Québecers that certain changes to the QST system will come into effect on January 1, 2013, further to a tax coordination agreement entered into by the federal and Québec governments. However, it is important to note that these changes will not affect the total amount payable on a purchase.

The QST is currently calculated on the selling price plus the GST. Starting January 1, 2013, however, the QST will apply directly to the selling price not including GST. To ensure the total taxes payable remain the same, the QST rate will rise from 9.5% to 9.975%.

Rest assured that this adjustment is not an increase in the QST, as shown in the following example.

 
Calculation before January 1, 2013
You purchase a taxable item for $100. The taxes
are calculated as follows:
Selling price $100.00
GST ($100 × 5%) $5.00
QST ([$100 +$ 5] × 9.5%) $9.98
Total  $114.98

 

 
Calculation after January 1, 2013
You purchase a taxable item for $100. The taxes
are calculated as follows:
Selling price $100.00
GST ($100 × 5%) $5.00
QST ($100 × 9.975%) $9.98
Total  $114.98

 

For more information, go to our Website.

FAIR. FOR ALL.
Tax fairness is in the interest of all. Part of Revenu Québec's mission is to ensure that all taxpayers contribute their fair share to the funding of public services.

FOR INFORMATION: 



Stéphane Dion
Direction principale des relations publiques et des communications
Revenu Québec
Tel.:  418 652-5115
Email: stephane.dion@revenuquebec.ca

 

SOURCE: Revenu Québec

For further information:

Stéphane Dion
Direction principale des relations publiques et des communications
Revenu Québec
Tel.:  418 652-5115
Email: stephane.dion@revenuquebec.ca

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