13 May, 2010

The New Harmonized Sales Tax - Help for Consumers and Businesses

The Ontario Ministry of Revenue website provides guidance for consumers and businesses about how the new Harmonized Sales Tax (HST) will affect them.

The HST was introduced in the 2009 Ontario budget. It will replace the provincial sales tax with a value-added tax that will be combined with the Goods and Services Tax. The combination of the two taxes will be called the Harmonized Sales Tax.

The new tax will be effective on July 1, 2010.

A chart outlining "What's taxable under the HST and what's not?" is a helpful document. It is broken down into categories such as clothing and footwear, food and beverages, accomodation and travel, and household products.

The Canada Revenue Agency also provides information about the HST on its website.