GST cut

[vonGarvin]

Well, I went to the store yesterday and bought some stuff.  Came to about twenty bucks.  I checked my receipt to ensure that the GST were indeed down to 6%.  It was.  I saved 20 cents.  Not enough to invest in an RSP, perhaps (a_majoor may correct me on this.  I don't know if he remembers me, but once, many many moons ago he overheard me say that I won 200 bucks on Proline.  He pulled out his briefcase and asked if I were going to invest it.  I told him that I had already invested it: Mr. Molson's company, and some long-forgotten blonde benefitted from my indulgences!).  But, hey, 20 cents on one purchase.  I'd rather save 20 cents than lose 20 cents.  Perhaps I should track my GST savings and put aside for a rainy day. 

Has anyone else been tracking?


Mods: I hope I've put this in the correct forum


von Garvin out.

 

[paracowboy]

Mods: I hope I've put this in the correct forum

yeah, I think so.

Kinda scary, isn't it? A government that actually does what it promised to do?

 

[vonGarvin]

Kinda scary, isn't it? A government that actually does what it promised to do?

"Mad" Mike Harris did just that, and was rewarded with a majority.  I believe that he left politics due to personal issues.  No matter your political stripe, you would have to admit that this government has been a refreshing change. 

 

[Hot Lips]

Haven't noticed yet vG...but will on my next purchase.

Like the old saying goes, "a penny saved is a penny earned"

My understanding is that there will be approximately a $400 savings per year per family of four...I believe I heard that on a radio broadcast...here's an article

http://cnews.canoe.ca/CNEWS/Canada/2006/04/05/1521630-cp.html

HL

I like PM Harper and I am impressed that he is a man of his word.

 

[Franko]

Well this morning at Timms....2 large coffees were $2.78, down from $2.80.

I'm happy.    ;D

Regards

 

[HItorMiss]

You know it's starnge my entire voting life has been based on watching the Liberals lie to me.

I'm not really sure what to do when the government does what it says it's going to... I think I feel nervous like maybe the world is ending?

*Looks about for the 4 horsemen and Gabriel blowing his horn*

 

[George Wallace]

So.....now I have to bring a pocket full of pennies to Tims, or collect a pocket full of pennies........smells like a "Price Hike" is in the wind.

 

[vonGarvin]

In spite of the original bashing of the 1% cut by the media during the campaign, cbc radio had a very interesting story on it the other day.  Some person bought a house and the closing date was in July.  They were saving 7K from the purchase price (GST is included in house prices).  Considering that they had already been approved for the mortgage with that extra 7 K in it, that money is theirs.  

 

[Hot Lips]

Well this morning at Timms....2 large coffees were $2.78, down from $2.80.I'm happy.     ;D

Regards

Awesome Recce by Death...my annual income just went up significantly then 

HL

 

[Derka Derka Jihad]

The cut is just political smoke and mirrors...it's really going to benefit businesses, not the average consumer.  :-\

 

[aesop081]

The cut is just political smoke and mirrors...it's really going to benefit businesses, not the average consumer.  :-\

Nice name  :

I smell a troll , but time will tell !!

The GST cut works for me..i saved $15 already

 

[paracowboy]

The cut is just political smoke and mirrors...it's really going to benefit businesses, not the average consumer.  :-\

uuuhhh, benefitting the businesses does benefit the consumer. That's how laissez faire economies work.

 

[jarko]

Yeah, GST cut huh. -- Check this out.

 

[aesop081]

Yeah, GST cut huh. -- Check this out.

You're never going to make everyone happy.  So far this weekend i saved around 25 bucks. I'm happy.  I'm looking at buy a house....guess what!!

 

[The Bread Guy]

Hate to seem the troller, but...

I talked to a deli owner I frequent, and he said that effective 1 Jul, he's been asked by Ottawa to start sending in a 1% "inventory" tax. 

Anyone else (esp. those running their own businesses) hear of this?

 

[aesop081]

:

here we go......

he was "asked" ?

do you realize how that sounds ?  The government doesnt "ask" you to send in a tax....

 

[Sheerin]

While cutting the GST by a whole 1%, the government decided to raise the tax on alcohol to compensate for the loss of income.  They've also raised the personal income tax for the lowest tax bracket to 15.5%. 

The GST tax cut is really only going to be noticed for people who make big ticket purchases, like a woman who saved 7 grand when buying a 700k house.  I know this "tax cut" isn't really going to affect me for the time being, except maybe my GST rebate cheque will be smaller.

With that said my morning ritual of a xl regular and a toasted sesame bagel with light cream cheese only costs 3.31 now as opposed to 3.34 on friday.  Woo a savings of 3 cents a day (so 15 cents a week and 60 cents a month and $9.20 a year...)

 

[aesop081]

While cutting the GST by a whole 1%, the government decided to raise the tax on alcohol to compensate for the loss of income.  They've also raised the personal income tax for the lowest tax bracket to 15.5%. 

The GST tax cut is really only going to be noticed for people who make big ticket purchases, like a woman who saved 7 grand when buying a 700k house.  I know this "tax cut" isn't really going to affect me for the time being, except maybe my GST rebate cheque will be smaller.

With that said my morning ritual of a xl regular and a toasted sesame bagel with light cream cheese only costs 3.31 now as opposed to 3.34 on friday.  Woo a savings of 3 cents a day (so 15 cents a week and 60 cents a month and $9.20 a year...)

you could always give me what you save every morning........i mean if you dont like it, i'll take it off your hands.

 

[Hot Lips]

Ditto to that aesop081

HL

 

[Sheerin]

My point is that this tax cut will really only benefit people who make big ticket purchases.

If the government really wanted to give us a tax break they'd either A) get rid of the GST completely, B) give the GST rebate cheques to more people and increase the rebate C) take the GST off of most necessary purchases. 
Theres nothing worse than buying 700 dollars worth of text books and then having to pay 7% on it.  Its great that Miss so and so is able to save 7 grand on her new 700K house, but what about all those students who have to shell out a larger proportion of their income on tax for books and other necessities?