Tuesday, March 02, 2010

Tax grap - Stop the 13% tax - on homes in Ontario!!!

This is a taxgrab of major proportions . Maybe with your help it can be stopped. If anyone is selling their house do so before July 1,2010. Please pass it on and tip the balance 

This is interesting and maddening regarding the HST. There is a legitimate petition at the end of the email for the Legislative Assembly of Ontario to cancel the current plan to introduce HST on July 1st.

 

    Thomas.

        

 

 

 

Hello


Next summer (2010) the Ontario Government is set to put into force
its new harmonized GST/PST sales tax which will apply a 13% sales
tax to everything we purchase.

 

Things That Were Not Subject To The
Current 8% PST Will Be Now Taxed

 

As a
result, things that were not previously taxed under the current
Ontario Provincial Sales Tax (PST)
will be taxed at 8%.

 

The new 13% tax will therefore apply to things like your electric bill,

your gas bill, your water bill, condominium fees, insurance
premiums, and every other good and service you purchase. There are
almost no exemptions.


 

 

The current Ontario PST tax does not apply to services, nor does it apply to the purchase of certain goods. The new 13% tax will therefore extend the old 8% PST tax rate to the purchase of all goods and all services...

 

The New 13% Tax Will Apply To The
Purchase of All New Homes

 

The new harmonized GST/PST will also apply to all purchases of all new
homes. If a person were to purchase a new $1 million dollar home in
Toronto , they would have to pay
roughly $200,000 in taxes as a result of the Ontario
land transfer tax, the new city of Toronto land
transfer tax, and the new harmonized 13% GST/PST.

 

Think about that and what that would do to real
estate values inthe province.

 

It will cause property values to fall and kill the new home construction industry and the jobs it creates.

 

 

And it won't be long before you'll hear our elected representatives telling us that, because of the harm that has been inflicted to the new home construction industry by the new 13% tax, it would be "fair" to extend the new 13% tax to sales of existing
homes.

 

The New 13% Tax Is An Assault On
Your Primary Residence

 

Canadians have had two things that they have always been able to count on as
being tax free - things that they could use to save money and accumulate wealth. They are your: (a) primary home; and (b) RRSP. That's it.

 

The extension of the new 13% GST/PST to homes is simply a tax assault
by the government on your primary home. They want to tax your
primary home and you will suffer because of it.

 

Why?
Because if a purchaser has to pay almost $200,000 in taxes to buy
your $1 million dollar home, the purchaser is going to pay less to
you for your home. The purchaser will reduce the amount he or she
is willing to pay to you in order to pay all the taxes.

 

 

The New 13% Tax Will Effectively
Raise Your Income Taxes

 

Currently, the combined Federal/Ontario income tax rates are roughly 25% on
the first $20,000 of taxable income, 42% on the next $40,000 of
taxable income, and 46.5% on each dollar of taxable income over
$60,000. On top of that you have to add the "Fair Share Health
Tax" of up to $1,000 each of us has to pay.

 

 

If the Ontario Government gets away with implementing their new harmonized
GST/PST sales tax of 13%, the top effective income tax rates in
Ontario will be as follows (since you can't spend any of your tax
paid dollars without paying the new harmonized 13% GST/PST tax):

 

38% on the first $20,000

53% on the next $40,000

59.5% on every dollar over $60,000

 

On top of that, you have to pay your Ontario Fair Share Health Tax, your
city realty taxes, your city garbage fees, your city water fees,
your city street parking permit fees, your annual Ontario vehicle
license plate fees, your Ontario land transfer tax, your gasoline
taxes, your liquor taxes, your air departure taxes, your
entertainment taxes, and so on.

 


OF ALL THE MONEY YOU WORKED HARD TO EARN, WHAT
PERCENTAGE ARE YOU REALLY KEEPING FOR YOUR OWN USE?
?25%? 20%?
10%?

 


ENOUGH IS ENOUGH - FIGHT BACK

 

THIS HAS GOT TO STOP HERE OR WE WILL ALL SOON BE
WORKING FULL TIME FOR THE VARIOUS LEVELS OF GOVERNMENT IN ONTARIO.


YOU CAN ALREADY SEE HOW ARE LIFESTYLES ARE
DECLINING BECAUSE OF THE ENORMOUS TAX LOAD WE BEAR.

 

AS A RESULT, I URGE YOU TO TAKE THIS ISSUE
SERIOUSLY AND TO FILL IN AND
 SIGN THE PETITION.

 

ATwww..unfairtaxgrab.com?AGAINST THE NEW HARMONIZED GST/PST TAX. 

 

I WOULD ALSO ASK YOU TO SEND THIS E-MAIL ON TO
OTHERS THAT YOU KNOW AND ASK THEM TO DO THE SAME.

 


IF WE DON'T WORK TOGETHER ON THIS ISSUE THE NEW
HARMONIZED 13% SALES TAX WILL BECOME A REALITY NEXT SUMMER.

 

THANK YOU.

 


 

 

 

To sign a petition go to www.unfairtaxgrab.com

 

Thousands say "no" to the HST

 

 

Dalton McGuinty claims no one is complaining about his unfair tax grab.
You proved him wrong this week. On Wednesday we sent out a
request asking you to send a message to the McGuinty Government
about the HST. Almost instantly our email box began to fill. By
the end of the day we received  nearly 2,000 messages
.

 

New Democrat Members of Provincial Parliament did their best to read
them into the record in the Legislature, but they simply ran out
of time. The good news is: there are more debates to come and
well be sending you details about how to keep up the fight
against this unfair tax grab. In the meantime, you can read a
transcript of the debate. 

 

Together we can stop the HST.

 

 


 

 

 


 

 

 

 

 

 

 

 

 

 

 





 


 

 

 

 

 

 

 

 

 


 

 






 


 

 

 


 

 

 

 

 

 


 

 








 

 


 

 


 

 



 

 


 

 




 

 

 

 

 

 

 

 

 

 

 

 

 

 





 



 





--
Hollecrest & Associates Inc   -"Turnaround Consultants" http://www.ic.gc.ca/ccc/search/cp?l=eng&e=123456239975 .


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