HST INPUT TAX CREDIT SUSPENSIONS likely for small business
Nov 11, 2009 Guest Posts
The BC Liberal government has made a big deal about how this HST is going to be good for business and how BC businesses will be able to recover “INPUT TAX CREDITS” paid out on a number of different items.
What Minister Colin Hansen and Premier Gordon Campbell did not tell you was that if Hansen figures things are sticky enough, he can suspend part or ALL of those “INPUT TAX CREDITS”. And not just for a short time either. 5 YEARS of full suspension, plus 3 years more to phase them back in.
Wait just a minute guys? What the heck did you need that for? If Hansen was not contemplating using this provision, why is it there?
It is very clear that the Liberals know full well what is coming after the 2010 OWE-lympics are done. And they have decided that your slurpee is too much of a luxury for them to miss the tax on.
Every small BC business is going to take a beating on the HST. Either directly, or indirectly because even if you can believe that insane $1.9 BILLION projection of increased tax burden on BC consumers, that works out to some $460 increased tax by every man, woman and child in BC. And those numbers are the ones offered up by the same fiscal sharpies that ran the last election of an approximate $460 million deficit projection only to have it revealed later it was in the multiple BILLIONS!!
No small business can be expected to see $2500 per family removed in terms of buying power. Because while families will be paying more for goods because of this HST, incomes are NOT going up to keep pace. So small BC businesses are in grave danger of being wiped out over this.
Mike Summers
Northern organizer, Fight HST
Tags: bc business, bc businesses, bc consumers, full suspension, grave danger, hansen, HST, incomes, input tax, last election, liberal government, man, mike summers, Owe-lympics, premier gordon campbell, sharpies, slurpee, Tax Burden, woman and child
