Welcome to ROMS BC's blog. Here, you can read about issues, stories, updates and events for BC's residential rental industry.

Monday, July 4, 2011

HST Referendum

How do we get past the emotion and vote on the facts? Some things to consider:

> HST hurts the residential rental industry because we pay tax on more items than we did with the PST, and can claim no input credits.
> If HST is repealed, it will cost BC taxpayers $1.6 billion in repayments to the federal government.
> When HST was implemented, about 400 provincial government jobs transferred to the federal government. Will those positions return to the BC government and have to be paid for by BC taxpayers if HST is repealed?
> HST is a more efficient tax; it costs less for businesses to administer.

ROMS BC isn't advocating yes or no, but we do advocate that you exercise your right to vote. And because of Canada Post's lockout, voting deadlines have been extended; if you haven't received your voting package, you need to request it by midnight on July 22nd, and you must mail your voting card before 5:00 pm on August 5th.

Remember; "NO" means keep the HST and "YES" means repeal it.