HST Quick Facts

QUEEN'S PARK, ON, July 1 /CNW/ - Here are some quick facts about Ontario's new HST:

    
    -   The HST is only one part of a comprehensive tax package, which also
        includes tax breaks for families and businesses, and other benefits.
    -   93% of Ontarians received an income tax cut on January 1st, and
        Ontario now has the lowest income tax rate on the first $37,000
        earned.
    -   Transition payments - $1,000 for families making less than $160,000
        and $300 for singles making less than $80,000 - are being delivered
        to Ontarians.
    -   A new Ontario Sales Tax Credit of up to $260 per year, per person,
        for middle- and low- income families is available.
    -   According to experts, Ontario's comprehensive tax plan will result in
        almost 600,000 good, new jobs over the next 10 years and $47 billion
        in new business investments.
    -   83% of consumer goods have seen no change in tax as a result of the
        HST. That includes things like:

            -  Restaurant meals
            -  Phone and cable
            -  Municipal water
            -  Home and car insurance
            -  Basic groceries
            -  Clothing
            -  Home electronics
            -  Municipal transit
            -  Movie tickets (will see less tax)
            -  Prescription Drugs
            -  Additionally - children's clothing and footwear, all infant
               and child care seats, diapers, books, meals under $4,
               newspapers, and feminine hygiene products will be exempt from
               the provincial part of the HST.
    

You can find out more at www.ontario.ca/taxchange/

For further information: Andrew Teliszewsky, [email protected], 416-325-3670