Why are bike shops not making a big deal of the disappearance of HST on bikes tomorrow?
Am I missing something?
Hello bike shops...
Because they wouldn't have sold any bikes last month, and would have a million going out tomorrow.
treezz
wow you are a ass
Heard an ad on the radio (the peak) today from Dunbar specifically mentioning the HST.
Just a side note, for the next year, feel free to add on that 7% discount when telling your friends/wives/partners/parents how much money you saved on a part/bike.
I'm guessing shops probably are waiting until this week to load up on product themselves since they too will save 7%.
I'm guessing shops probably are waiting until this week to load up on product themselves since they too will save 7%.
You guess wrong, under the HST business remitted on a commodity tax offset basis which means that they only paid the difference between the HST they collected and the HST they were charged. PST operates on an exemption basis as there is no credit program.
"I know that heroes ride bicycles" - Joe Biden
HST was a better system all around, Bill Vander Zalm really irks me.
Speak for yourself, HST was VERY difficult for our business with no benefit whatsoever. Each business is structured differently and our unique business was quite challenged with the HST. It just meant passing on increased costs to customers and giving money to gov't but getting charged service charges on it…
We are VERY happy to be going back to GST/PST as we are GST only for almost all of our products and services.
DB@EB
Lessons, Rentals & Tours - since 2004
Speak for yourself, HST was VERY difficult for our business with no benefit whatsoever. Each business is structured differently and our unique business was quite challenged with the HST. It just meant passing on increased costs to customers and giving money to gov't but getting charged service charges on it…
We are VERY happy to be going back to GST/PST as we are GST only for almost all of our products and services.
DB@EB
fixed my original post
"I know that heroes ride bicycles" - Joe Biden
You guess wrong, under the HST business remitted on a commodity tax offset basis which means that they only paid the difference between the HST they collected and the HST they were charged. PST operates on an exemption basis as there is no credit program.
No PST on bikes now, and never was until HST .. and now its just GST again, which they can still offset 100%. Lots of service-oriented businesses are taking advantage of this as an opportunity to raise their rates for services by 7% by simply announcing that "customer rates will be unaffected" .
Had a shop owner tell me that his life improved 7% yesterday
Why slag free swag?:rolleyes:
ummm, as your doctor i recommend against riding with a scaphoid fracture.
I got into an argument with a guy about the HST. I was against it because it made a lot of things more expensive for everyone, even people with very little money. It was basically a tax shift from business to consumers. Anyway this guy was all for it and I think it was profoundly ironic that this guy was a gilder. His business was to ENCASE SHIT IN GOLD!!! Guy seemed to be a bit out of touch.
HST shifted over a billion a year in taxes in BC from business to consumer. Its a fact. Look it up. Libs said it would be "revenue neutral" but actually brought in hundreds of millions of extra revenue (every cent paid by you and I) to the Govt. I'm not anti-tax, or anti-government or anti-regulation - I'm anti-lying.
You guess wrong, under the HST business remitted on a commodity tax offset basis which means that they only paid the difference between the HST they collected and the HST they were charged. PST operates on an exemption basis as there is no credit program.
GST is also a value added tax bro. It looks like with the increasing tarrifs on bicycles many shops may be hurt anyways.
GST is also a value added tax bro. It looks like with the increasing tarrifs on bicycles many shops may be hurt anyways.
From what I saw last night on TV the cost of sporting equipment goes down 15% and the cost of soft goods goes up. Not sure how this works for the biking industry.
All my buddies and family members who make bicycles, coffee makers, solid-state memory devices, baby strollers, synthetic fiber rugs, paint brushes and rollers will be happy that their interests are being looked after by the Tories and their new tariffs.
From the Globe and Mail
"_Every year, Canada imports $125-million worth of bicycles from the 72 countries losing their GPT status, representing more than 50 per cent of Canadian bicycle imports. The tariff on these bicycles is increasing to 13 per cent from 8.5 per cent, a move that will cost Canadian cyclists between $5-million and $6-million each year. This does not include the tariffs on childrens tricycles and wagons, which are also increasing.
Beyond bicycles and tricycles, the tariff changes make it more expensive to raise a child. Nearly 90 per cent of imported baby carriages are from GPTLCs. Since few other countries produce these products, it will be nearly impossible for consumers to avoid a tariff that is increasing to 8 per cent from 5 per cent, costing consumers more than $1-million a year. The added costs continue once the child enters school, as the tariff on plastic school supplies for GPTLCs (who make up 61 per cent of the import market) is increasing to 6.5 per cent from 3 per cent, a move costing consumers roughly $1.3-million a year. These tariff increases erode much of the savings from the reduced tariffs on baby clothes.
GPTLCs dominate the market for imported wigs, with China and Indonesia between them holding nearly 90 per cent of the market. The tariff increase on the $30-million worth of GPTLC wig imports is enormous, jumping to 15.5 per cent from zero, costing Canadian consumers roughly $4.6-million each year. Given that many of these wigs are purchased by cancer patients, it seems an unusual place to increase taxes.
The largest single expense I have discovered is the treatment on solid state storage devices such as USB drives. The majority of these devices are imported from four GPTLCs: China, South Korea, Thailand and Malaysia. The $127-million worth of GPTLC imports will now be assessed a 6-per-cent tariff where none was charged before, costing Canadian consumers roughly $7.5-million each year.
Canadian consumers will be paying tens of millions more each year to furnish their homes. The majority of coffee and tea makers (85 per cent of imports), rugs with synthetic fibres (96 per cent) and paint brushes and rollers (55 per cent) are from GPTLCs, making it difficult to avoid these taxes. Tax increases in these three areas alone will cost Canadian consumers roughly $10-million a year, split among coffee and tea makers ($5-million), rugs with synthetic fibres ($2.7-million) and paintbrushes and rollers ($2.5-million). Nearly half of imported plastic tableware and plastic household articles are sourced from GPTLCs. The tariff increase to 6.5 per cent from 3 per cent will cost Canadian consumers an additional $11-million each year._"
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