Posts Tagged ‘Tax Increase’
Like it or not HST is going to increase the sales tax on many goods and services in Ontario. While the ongoing HST debate is often centered on the addition of taxes, the increase is just part of the HST landscape.
The Ontario Ministry of Revenue has claimed that 83% of consumer purchases will not receive an increase in sales tax. That means there will not be a tax increase on most purchases made in Ontario.
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While some items will remain exempt from HST in Ontario, many items will see an increase in sales tax and the inclusion of HST. We’ve compiled a list of the most notable changes.
The following items will be subject to HST in Ontario:
- Gasoline is subject to HST in Ontario
- Heating fuels in Ontario will be taxed HST
- Tobacco will be subject to HST in Ontario
- Quit smoking aids (nicotine gum etc.)
- Newspaper & magazines subscriptions
- Fast food items exceeding $4.00 will be taxed HST
- New houses over $400,000 will be subject to HST tax
- Vitamins will be subject to HST along with natural health products
- Used vehicles sold by private sale
- More (This is not a complete list)
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