It's easy to say that we're only talking about a cup of coffee and a sandwich, OR a New Car, but the problem remains the same.... a few pennies over the course of a year(s) does make a difference. All depends on who is the intended beneficiary.
Under the new system, without a Penny in sight in the till, your Bill will have to include an extra two lines ... more trees being cut down ..... to explain the Total and the TAX percentage of the TOTAL and then the Rounding UP or DOWN to the Final Total.
Maybe Christy Clark will come out with a last ditch effort on April 1st to woo British Columbians, just like her former boss tried before he was turfed out in opinion polls. A promised reduction in personal income Taxes...... and then will turn around and raise the costs of Health Care's MSP and other sundry items.
Will the government still provide the transition payments or consider reducing the HST rate?
The HST will continue to apply at the full 12 per cent rate until the PST is re-implemented. The policy changes announced pending a “No” result in the referendum will not proceed.
The example that is being given in the Vancouver Sun this morning is based upon Toronto ONTARIO's rate of 13%.
Here in British Columbia we're paying 12%, and by April 1, 2013, we'll soon be back to the GST + PST @ 12% (combined).
However the Return to 5% GST along with the 7% PST will result in TWO taxes being rounded up or Down.... in favour of which Government's Treasuries, and which Constituents' bottom line.
British Columbia's Public, and Businesses, would be better served if the HST or the GST/PST, were reduced to 10%, not the impending 15% that has been caused by the BC Liberals trying to balance their Budgets using BC Hydro Deferral Accounting methods that are pegged at $5 Billion, in DEBT.
Have no doubts, Finance Minister de Jong has it in place, like Hansen's HST, just waiting in the wings to bump the rate up by June "HST" Time.
The only rounding up or down that is NOT taken to task by Governments is the "Gas Station" fuel suppliers where they count their payment of litres in pennies, cut into 18 numbers beyond the decimal point, eh. $1.27 has been rounded up from $1.26641313 or rounded down from $1.27261314. The Company's rounding UP is making them a TON of cash from the Masses.
The same will hold true for the Governments.
The provincial government has said keeping the tax is crucial to the province's economic future and in an effort to make it more palatable for voters, Clark has said the combined federal goods and services tax and former provincial sales tax will drop to 10 per cent from 12 by 2014. - Read it on Global News: Global BC | 'Plan B' ready if British Columbian's kick HST to curb: Premier Clark
... If we had voted to KEEP the HST...