Canada Day means GST cut
- Thread starter JonB2004
- Start date
RE: Canada Day means GST
1% of about $45,000 per household is $450 per year.
http://www40.statcan.ca/l01/cst01/famil16a.htm
1% of about $45,000 per household is $450 per year.
http://www40.statcan.ca/l01/cst01/famil16a.htm
Minus food. Is rent / morgage taxed (if it is, its included in mine)? If not those two items are close to half of that $45,000.
Average household spending in N.L.
What am I missing? Out of that 45, 12 is shelter, 7 is food. Neither of these are taxable through the GST (I'm not entirely sure about the shelter). That means that only 26,000 is being taxed so the average N.L family will save $250. A princely sum to be sure. :wink:
What am I missing? Out of that 45, 12 is shelter, 7 is food. Neither of these are taxable through the GST (I'm not entirely sure about the shelter). That means that only 26,000 is being taxed so the average N.L family will save $250. A princely sum to be sure. :wink:
RE: Canada Day means GST
LRG
The first column is Canada
Total expenditures 63,636
Less
Food 6,910
Shelter 12,200
Reading materials and other printed matter 283
Education 1,078
LRG
The first column is Canada
Total expenditures 63,636
Less
Food 6,910
Shelter 12,200
Reading materials and other printed matter 283
Education 1,078
RE: Canada Day means GST
Oh missed the second column. You are still reading it wrong.
TE = 63,636
Less
PI Tax 12,905
Insurance and Pension 3,645
Gifts of money and Contributions 1,652
The total consumption includes food, shelter etc.
Oh missed the second column. You are still reading it wrong.
TE = 63,636
Less
PI Tax 12,905
Insurance and Pension 3,645
Gifts of money and Contributions 1,652
The total consumption includes food, shelter etc.
Re: RE: Canada Day means GST cut
Yeah, I didn't know if I paid it on my rent (or if my landlord had to deduct it).
$300'ish, a princely sum. That's almost enough to by 600GB of storage. :wink:
gc said:
Yeah, I didn't know if I paid it on my rent (or if my landlord had to deduct it).
$300'ish, a princely sum. That's almost enough to by 600GB of storage. :wink:
Household income-to-debt ratio 2003: 105%
Debt on a $63K household = 63*105% = $66K
0.25% in bankrate = $165
My conservative guess is Dodge will bump it by that at least twice more by the end of the year and dumping dollars on the market like this at best does little to stop it. In light of the larger trends this whole thing is chickenscratch that would have been better spent paying the debt directly.
Nice idea. Lousy timing.
Debt on a $63K household = 63*105% = $66K
0.25% in bankrate = $165
My conservative guess is Dodge will bump it by that at least twice more by the end of the year and dumping dollars on the market like this at best does little to stop it. In light of the larger trends this whole thing is chickenscratch that would have been better spent paying the debt directly.
Nice idea. Lousy timing.
BitWhys said:
See that's what I've been thinking. In a time of boom, where we are trying to slow inflation a bit, I just see this being gobbled up by inflation and interest rates. Like you said.
Re: RE: Canada Day means GST
If I understand this correctly, your primary source of income is from donating sperm? :lol:
Simpleton said:
If I understand this correctly, your primary source of income is from donating sperm? :lol:
Re: RE: Canada Day means GST
The way to measure a tax cut is to ponder the howling if it was an equal tax increase.
GST change to 8% anyone?
BitWhys said:
The way to measure a tax cut is to ponder the howling if it was an equal tax increase.
GST change to 8% anyone?
Re: RE: Canada Day means GST cut
You don't have a phone? Phone service is taxed GST. You don't have electricity? The power company charges GST. You don't have an Internet Service Provider? ISPs charge GST.
Do you have cable television or a satellite dish? Both are services that taxed by the GST.
Unless you live in an adobe hut somewhere in some God-forsaken part of the Canadian boonies, and you have some deep hesitation about using modern amenities, YOU pay the GST! Everyone pays the GST!
And for the record, GST rebate payments are paid quarterly. The first installment arrives in July, the second in October, the third in January, and the final payment is given in April. The GST rebate is a relative pittance, when you fail to grasp the full spectrum of goods and services to which the tax is applied.
Ever buy a snack food? A video game? A piece of furniture? Ever rent a movie? Attend a sporting event or a concert? The GST is as pervasive as humanity in Canada. If you're alive, you pay the GST.
gc said:
You don't have a phone? Phone service is taxed GST. You don't have electricity? The power company charges GST. You don't have an Internet Service Provider? ISPs charge GST.
Do you have cable television or a satellite dish? Both are services that taxed by the GST.
Unless you live in an adobe hut somewhere in some God-forsaken part of the Canadian boonies, and you have some deep hesitation about using modern amenities, YOU pay the GST! Everyone pays the GST!
And for the record, GST rebate payments are paid quarterly. The first installment arrives in July, the second in October, the third in January, and the final payment is given in April. The GST rebate is a relative pittance, when you fail to grasp the full spectrum of goods and services to which the tax is applied.
Ever buy a snack food? A video game? A piece of furniture? Ever rent a movie? Attend a sporting event or a concert? The GST is as pervasive as humanity in Canada. If you're alive, you pay the GST.
LittleRunningGag said:
Interest rates are relatively low. Inflation is very low. And taxes are going down. Boom!