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SINCE being GST-compliant is a fairly long and complex process, businesses pussy-footing on the issue may find themselves in a bind when the implementation date is announced.
THE Government has announced the postponement of the implementation of the goods and services tax (GST). This is to enable it to engage with the people to ensure their interest and welfare. So what would be the effects of a GST on the people? The GST will be imposed throughout the entire production and supply chain.
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Although Canada is the closest and largest commercial trader with the U.S., constant vigilance of cross-border business is critical to avoid surprises...
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In its recent Budget, the Government of Ontario announced that the province will harmonize the existing 8% Ontario retail sales tax (RST) with the fed...
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Revision of Canada's Goods and Services Tax (GST) should focus on modifying the existing tax scheme and not on implementing an entirely new program that would place substantial transition cost burdens on business. The GST is in need of reform due to lack of compliance, adverse public reaction and persistently high compliance costs for small business. The revised GST should be a multi-staged value-added tax, and the scheme should encompass more goods, be harmonized with provincial sales taxes, be visible to the consumer and limit the number of very small businesses forced to register.
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The time and costs associated with administering salary sacrifice arrangements for employees can impose a burden on organisations. There are three com...
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Study provides snapshot of the economic impact of office-based physicians at state and national level
CHICAGO, March 23, 2011 /PRNewswire-USNewswire/ -- A new report released by the American Medical Association (AMA) shows that office- based physicians play a vital role in national and state economies by supporting jobs, purchasing goods and services and generating tax revenue. In 2009, office-based physicians contributed $1.4 trillion in economic activity and supported 4 million jobs nationwide.
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Canada's Goods and Services Tax (GST) under the Canadian Excise Tax Act replaces federal sales tax and taxes only goods and services consumed in Canada by residents and non-residents alike. However, the Excise Tax Act and Canadian Income Tax Act do not define carrying on business in the same way so a non-resident may be carrying on business under one and not the other. All persons carrying on business under the Excise Tax Act are liable under GST unless they are small suppliers who are exempt.
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Sales Simplicity, the Best-Selling U.S. Sales and CRM Software for Home Builders, Moves into Booming Canadian Markets
CHANDLER, Ariz. -- Sales Simpl...
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Cityrose Trading Pty Ltd v Booth & Anor [2008] VSC 495
In a decision handed down on 21 November 2008, the Victorian Supreme Court found that there w...
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Cain's Plan with an added 9
If Herman Cain wants his 999 Plan to pass, I believe he needs to do two things: One, add another 9 for the capital gains tax. In this era of "the Buffet rule," he will never be able to eliminate the capital gains tax entirely. Cutting it to 9 percent (from its current rate of 15 percent) is still a very good way to spur investment. And two, he must prove to the American people that his 9 percent national sales tax will not increase prices. He must show how his plan drastically reduces the cost of producing goods and services, which is what will keep prices consistent. Eliminating the payroll tax of 15.3percent is a good start, but he has much to prove.