myRetailer.ca

On July 1^st, Ontario and British Columbia will be adopting the new Harmonized Sales Tax system currently being used in other parts of the country.

The National Post ran an interesting article last week debating the pros and cons of the new tax system. Well, let me give you my first hand experience with HST.

I can recall when HST was introduced in Atlantic Canada in 1997. Businesses were worried about increased costs to consumers. We were concerned about the integration of the new tax in our cash systems. Looking back, it simply boiled down to one thing; we were just afraid of change. We were afraid of the unknown.

I’m here to tell you that HST has been very good for business.

The way I see it, HST has three major advantages for business. (more…)

piggybank by parmarpritesh's via Flickr

As we prep our (Canadian) businesses for what the new HST (Harmonized Sales Tax) means for us, there’s lots of debate about how businesses will fare, adapt and implement the change to their systems, processes and financials.

I’m interested in your opinion.

Add your comments below – I’d like to know your point of view – as a consumer, business owner, politician, or anyone interested in the debate.

Links:

• HST – Frequestly Asked Questions (via CBC News)
• Better Practice Guide for Management of the HST (via Revenue Canada Agency) (.pdf)