GST drops to 5% effective Jan 1, 2008

[IMHIP2]

Yippee:bana

[Skarbro]

Did you notice any difference when it dropped from 7% to 6%? I hardly did. And this will be no different.

[Tokyo Drift]

oh it's good to hear!
how come it drops? is there any good reason?

[Kevin@nextmod]

oooo.........now its 1.13 on top of products

[WLS ZMZM]

now now now.... every little bit helps

[Cardinal Fang]

oh it's good to hear!
how come it drops? is there any good reason?

It was a campaign promise. You know the ones that governments should keep?

And the City of Toronto will find new and wonderful ways to get more money out of us so what's the point?

The Federal and Provincial governments are awash with Fiscal Surpluses after they apply payments to their debt. I could give a rats ass about the GST. Give the cities their fair share and give me more take home pay!

"Meet the new rat bag administration....same as the old rat bag administration."*

[IMHIP2]

oh it's good to hear!
how come it drops? is there any good reason?


Because the Fed Gov't is sucking too much money from us and not giving it back. This helps but in no way makes up for all the downloading that has taken place on the provincial level.

[Wild Weasel]

Did you notice any difference when it dropped from 7% to 6%? I hardly did. And this will be no different.

You might not notice it, but it is a difference.

People sure as hell noticed it when they jacked us with a 7% tax in the first place! If it slowly goes down and you don't notice the increments... well at least it's going down!

As mentioned, it was a campaign promise and I'm happy to see it being kept. That's something we're not used to from all the years of the Liberals being in charge, and still in charge here in Ontario.

I find it amusing that the press is talking about how this is no good for the economy and what not.

As mentioned, it really won't make much of a difference. People aren't gonna go out and start spending all their money because of it.

You can be damned sure though that if they didn't do it and only reduced corporate taxes, the media would be up in arms about them not keeping their promise and the tax cut not doing anything to help the common people.

[b3GS]

As mentioned, it was a campaign promise and I'm happy to see it being kept. That's something we're not used to from all the years of the Liberals being in charge, and still in charge here in Ontario.

I find it amusing that the press is talking about how this is no good for the economy and what not.

I'm glad they at least kept a promise as well, and you may not notice it, but think about how many things you buy in a year that you now pay 2% less then you did a couple years ago. thats nothing to scoff at!!
ALSO people seem to forget that the GST was only ever supposed to be a temporary tax when it was first put into place when the Conservatives (Mulroney) first implemented it. WAAY back in the early 90's :bang:complain

and I don't understand why the press would think it would not be good for the economy.. what does it have to do with it? it is a tax collected for the government.. NOT for business??!?!?! :loco

[Jeff-TheBiz]

woo hoo... BTW anyone who has a lease. expect another drop on your payment. regardless of when the vehicle was purchased..

All those who financed... suckas..

[Wild Weasel]

Frankly, the price drops from the rise in the dollar should have far more of an effect than this 1% drop in taxes.

[Flagrum_3]

I say don't scoff at it! Any drop in taxes is a move in the right direction.The fact that the Federal Government is looking at a $18 Billion surplus this year, at last count... I can't see them not dropping it (political preservation wise).
As for it helping the economy I can see it, people will spend more because they'll have more to spend and the corporations will get their tax cuts making them that much more able to compete, especially since our strong dollar is putting alot of pressure on our industries to produce more.
So all in all, its a good thing, lets hope they don't stop there and start relieving us all of our massive income tax burden.


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[bubba1983]

woo hoo... BTW anyone who has a lease. expect another drop on your payment. regardless of when the vehicle was purchased..

All those who financed... suckas..

dang!

[JMAK74]

Nice to see their keeping a promise.

That being said - a 1% drop (2% over the last couple years) doesn't get me overly excited. I can do better keeping an eye on prices and buying when somthing is on sale.


woo hoo... BTW anyone who has a lease. expect another drop on your payment. regardless of when the vehicle was purchased..

All those who financed... suckas..

But isn't someone who leased their car really just someone who rented a car for more than a week... suckas (j/k)

[condor888000]

Maybe, but even on sale you're saving 2% off that price compared ot a couple years ago. Not too shabby.

[Skarbro]

Frankly, the price drops from the rise in the dollar should have far more of an effect than this 1% drop in taxes.
That's just it - This 1% GST drop does absolutely nothing in the end for the price. When prices drop, they just do not have to go that extra 1% lower. If this GST cut never happened, the prices would have had to go the extra 1%. This whole thing is just smoke and mirrors. It's putting an extra 1% in the pockets of our merchants and taking it away from our Federal taxes.

[Wild Weasel]

That's true, but the less extra money going to the Fed's, the better.

Again... you'd have noticed it if they dropped the entire thing, right? So the fact that they're slowly dropping it over time is still a good thing. It might not be as impactful, but it's still less taxes we have to pay and we're still paying too much.

[Flagrum_3]

ALSO people seem to forget that the GST was only ever supposed to be a temporary tax when it was first put into place when the Conservatives (Mulroney) first implemented it. WAAY back in the early 90's :bang:complain


Actually it was never supposed to be temporary but they did state it would come down eventually....so it took over a decade.:complain
The GST was a replacement tax, whereas there used to be a hidden tax on manufactured goods called the manufacturers sales tax and it was 13%, the GST eliminated that tax, but placed an 8% tax on all goods making it a broader tax ...I remember at first there was actually a decrease in prices on many things like TVs, stereos, etc; ...but it didn't last long.


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[Jeff-TheBiz]

Actually Mazda is applying to all new vehicle sale right now....

Nice..

[the_dinger]

good move Mazda!

[lamerking]

Ahhhh....high Canadian dollar and lower taxes.....still can't be going to the states to shop

[Voodoo]

woo hoo... BTW anyone who has a lease. expect another drop on your payment. regardless of when the vehicle was purchased..

All those who financed... suckas..how?

[Jeff-TheBiz]

how?

It happens automatically, when the GST went down the first time, my lease payment went down. and I leased my 3 back in July of 05.

Mazda Canada Credit will be making the necessary adjustments come January.