Chamber says: Consumer HST Mitigation Good for Small Business
Bruce Carter, CEO of the Greater Victoria Chamber of Commerce
Sep 02, 2009
NEWS RELEASE
Two measures to assist consumers cope with the HST will ultimately benefit small business.
“Mitigation for HST effects and continued support for tourism marketing were the pieces we looked for in this budget. Personal income tax reduction and home energy rebates are very good. Tourism funding receives a significant bump, but the housing rebate level is unchanged.” says Bruce Carter, chamber CEO. “We still have a lot of work to do to ease the transition to HST.”
Consumer Relief
• Increase in the personal income tax threshold to $11,000 from $9,373
• Rebate for the provincial portion of HST on residential energy
“Each of these new measures will help to mitigate the impact of HST on the personal budgets of every individual or in other words small businesses customer,” says Carter.
Tourism Funding
One time budget injection of $39 million for tourism marketing to capitalize on the Olympics
Residential Housing
No movement on the $400,000 threshold on the provincial portion of HST for new home purchases
Municipalities have work to do
Each municipality will have to calculate whether the 75% HST rebate on the provincial portion of HST for municipalities will work out to be revenue neutral
HST Transition
Concrete mitigation measures needed for tourism industry to transition into the new HST environment
Expect much of this will be in transitional rules that are being drafted
The Greater Victoria Chamber of Commerce has approximately 1500 members and is the voice of business for the Greater Victoria region. The Greater Victoria Chamber has received Accreditation with Distinction from the Canadian Chamber of Commerce.
For more information contact:
Shannon Renault
Manager Policy Development & Communications
Greater Victoria Chamber of Commerce
Tel: (250) 383 7191 Ext 208 Cell 812-0510
Email:
This e-mail address is being protected from spambots. You need JavaScript enabled to view it
Chief Executive Officer
Greater Victoria Chamber of Commerce
Tel: (250) 383 7191 Ext 201 Cell 812-0510
Email: This e-mail address is being protected from spambots. You need JavaScript enabled to view it
Posted by: Kevin Sep 03, 2009
The BC Liberals got elected only because they campaigned on a balanced budget; to the point where they legislated it in an arrogant responce to the previous governments fiscal shortcomings. During the past 4 years all we have heard from this government is "On time... On budget". Is this not an easy feat when it is virtualy "raining dollars"? Why did they not just admit to the deficiet and move on? We could pay off the deficiet over the next decade, take our lumps and move on, but we are now tied to a tax forever. The best way to mitigate the HST damage to businesses is to back pedal and abolish the idea. Our provincial government has not earned the right to make eternal decisions for all British Columbians... they simply haven't earned that confidence.