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.


--

Davemanuel.com Articles That Mention HST:

Will Bill Ackman Ever Capitulate on Herbalife?

How Does President Obama's Current Approval Rating Compare To Those of Past Two-Term Presidents?

President Obama Enters Debt Limit/Deficit Reduction Talks

United States Military Spending Up 76% Over The Past Decade

Julian Robertson: "We Could See Inflation Go To 15 to 20 Percent"