Definition of HST
What is the definition of the HST? What does the term HST mean?
In Canada, HST stands for Harmonized Sales Tax.
The Harmonized Sales Tax (HST) is a combination of the federal GST (Goods and Service Tax) and the provincial sales tax (PST).
The goal of the HST is to create a more "efficient" tax system while not increasing sales tax revenues.
The HST is currently in use in British Columbia, Ontario, New Brunswick, Newfoundland and Labrador, and Nova Scotia.
The HST has proven to be tremendously unpopular in both Ontario and British Columbia. In fact, BC is having a binding referendum in June regarding whether or not the HST should be abolished.
In order to remain "revenue neutral", governments offset the HST with various tax credits.
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