Proposed Measures Would Help Businesses and Consumers Prepare For Change.
The McGuinty government has proposed general transitional rules that would assist in the move to a Harmonized Sales Tax (HST).
These rules explain:
Which tax would apply for transactions that straddle July 1, 2010 – the current Retail Sales Tax (RST) or the Ontario portion of the HST, how the RST would wind down, and the special transitional rules that would apply. Overall, the HST would apply to goods and services purchased on or after July 1, 2010. In addition, consistent with the approach used in the Atlantic provinces and Quebec, the HST would generally apply to prepayments starting on May 1, 2010, for goods or services that would be provided on or after July 1, 2010. This would create a level playing field for consumers and provide clarity for businesses as they transition to the HST. … Continue Reading