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发表于 2009-7-2 23:05:43
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本帖最后由 jiayi 于 2009-7-2 23:06 编辑
July 2, 2009
I heard the news that Ontario merge two taxes, federal GST(goods and services tax) and Ontario PST(provincial sales tax).
Now something needs to pay both tax, but something doesn’t need to pay PST such as buying home, buying fruit or vegetable etc. However, later all the things need to pay both taxes. After taxes the income is little, but later, it’ll be less.
Especially for home buying because the house price is very high, as a fact, the tax is high too. I read news several days ago. The tax-refund about buying home adjust again. If you buy a house below $400,000, they will refund 75 percent of the PST tax you pay, if you buy one over 400,000, they will refund 75 percent of the $400,000’s PST tax.
For example, if you buy a house costing $500,000. So you need to pay more PST tax than before. It’s about $40000(500,000*0.08). But the government will refund some tax to you, it’s about $24000(400,000*0.08*0.75). So you need to pay more tax about $16000. I just according this news to calculate it, I am not sure if it is right. But more tax is no doubtful. |
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