Tax cuts don't come along all that often, but a tax cut on Canada Day is a real reason for celebration.
During the election, Stephen Harper promised to cut the GST from seven per cent to as low as five per cent. Effective Saturday, Canadians can celebrate the country's 139th birthday by paying a six per cent tax. The cut was announced as part of the federal budget announced on May 2, and since then, businesses and consumers have been preparing for the change.
The drop to six per cent won't be as elementary as changing a single number, say experts such as Paul McElhone, executive director of the Canadian Institute of Retail Services at the University of Alberta, and Beverly Gilbert, a Calgary-based tax consultant.
It isn't as simple as changing one per cent on your computer. ''There's going to be a lot of nitpicky and administrative tracking that has to be done,'' said McElhone.
Gilbert said the July 1 start date could cause some challenges for both business and consumers since it's the beginning of a long weekend and one of the busiest shopping days of the year. Source.
More stuff to read on... my blog.
For some reason, some visitors to this site don't realize that links to each cartoon for 2006 is archived in a scroll down box near the bottom of the homepage. Use my 1997-2005 archives page to find cartoons from previous years. You can sign my guestbook, but I need to approve your entry to prevent infestation of spammers.