How Do You Plan To Save HST?
July 1, 2010 is the start of my diet. I am going to make a positive out of the harmonized sales tax (HST). In order to fund my HST liabilities, I am going on a diet. While I am not particularly overweight, i could lose a few pounds.
I will not buy lunches in downtown Toronto food courts. If the average lunch costs me $10.00, I should save $1000 per year at least and can use that money to pay for gas, electricity for my home, home heating fuel, food (on which HST will be payable), supplements (on which HST will be payable), landscaping, and other necessities.
I know that prepared meals under $4.00 will be he subject of a point of sale exemption - but, it is better for me to go on a diet than eat pizza and cheeseburgers for lunch. Why is the unhealthy food exempted?
I will also go to the hair salon 3 fewer times a year and will stretch out the time between visits. This will save me another $700 (my person is expensive).
I will reduce the number of manicures and massages so that I can pay for my travel within Ontario.
I will try to use telecommunications more and travel to the Ottawa office less. This should save me at least $1000 in Porter and Air Canada flights. I have already tried this. "Go To Meeting" is very good.
As a consumer, I can make this work. If others do not adopt similar changes to buying patters, then businesses will not be hurt. If others do change their spending patterns, HST will be a business killer.
What do you plan to give up in order to save HST?
Cyndee Todgham Cherniak is counsel to and in affiliation with the International Trade Law and the Tax Law (Commodity Tax
I have already given up most of the things you mention. Now I just have to freeze to death in the dark.