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
- Transition payments - $1,000 for families making less than $160,000
and $300 for singles making less than $80,000 - are being delivered
- 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
- 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/
SOURCE Liberal Caucus Service Bureau
For further information: For further information: Andrew Teliszewsky, firstname.lastname@example.org, 416-325-3670