Gravelle and Mauro agree, HST = Prosperity
Ontario’s Tax Plan
A Big Boost for Small Business
The Harmonized Sales Tax will return approximately 5 billion dollars to Ontario businesses and will create hundreds of thousands of new jobs.
On July 1st, the province of Ontario’s 50 year old tax system will get a major overhaul. Ontario is cutting business taxes, eliminating the small business deduction surtax and harmonizing the GST and the RST. The Harmonized Sales Tax will make absolutely no difference to the prices of 83% of the goods and services we purchase every day but it will make a huge difference for businesses. The RST portion of the HST will now be rebated to businesses all along the supply chain. The result will be lower costs for business and downward pressure on prices. Thunder Bay – Superior North MP Michael Gravelle was looking forward to assisting constituents through the transition feeling the changes would benefit everyone “Our government’s new tax plan is designed to create jobs and economic growth across our province. I look forward to working with businesses, communities and individuals across northern Ontario, to embrace change and new opportunities that will help us attain the growth and employment we need for our future prosperity.” said Gravelle.
The HST is a key component of the five year Open Ontario plan which supports job creation and enhances the programs and services, including education, health care and skills training that Ontarians value. Bill Mauro, MPP Thunder Bay – Atikokan sees the HST implementation as a progressive step which will make the province more competitive “The implementation of the HST is acknowledged to be the best policy option available to our government to create business investment and job creation. We will now be better able to compete with the other countries and provinces that have taken a similar path.” said Mauro.
