No GST for 2 months.

[Seamac49]

I know this will maybe garnish a warming from Moderators for mis-placing this post. It should probably go into the lounge.... I'm merely trying to inject some humor into our rather stuffy and boring Victoria scene.

With the Federal Government offering a 2 month break on GST.

Wouldn't it be nice if the industry afforded us a similar 5% break.

Maybe an interesting marketing tool there ladies.

 

[80watts]

The tax break is a very stupid idea. Its a major source of income for the Canadian government. Its only going to put more hardship on taxpayers after the tax resumes. Its actually designed for the next government to have financial difficulties after the next election....

 

[RobBC]

There are pros & cons. Since the GST is a flat rate tax that all Canadians pay regardless of income, so unlike income tax the GST "hurts" lower income folks more than higher income earners, so in that sense giving a break on GST you're helping lower income families more than higher earning ones which I like. Like if you're making 500K a year, saving 5% on a Playstation isn't likely something you're going to notice, but if you're making $20K a year saving 5% on some deli items at the grocery store is significant. Well in theory, except that most of the GST exempt things are luxuries (like video game consoles, beer, etc.

Of course the downside is the hit to tax revenue for the govt which (as alluded above) will have ramifications.

I also don't like how it's being marketed as "we're helping those middle class Canadians who weathered the storm of the pandemic". Not to say the middle class hasn't suffered (everyone has TBH), but if the govt wants to throw some money at folks to buy popular opinion I'd have preferred a tax break that was more targeted to those most in need, and kinda resent the "the middle class is really hurting for a break more than anyone else" rhetoric.