HST will exempt some small businesses
CBC News
Posted: Dec 10, 2012 8:14 AM AT
Last Updated: Dec 10, 2012 9:12 AM AT
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Some small business owners on P.E.I. are looking forward to not having to deal with sales taxes after the HST is introduced in April.
'[That] certainly will give us an advantage in attracting visitors.'— Bruce Craig, B & B owner
Businesses with revenues under $30,000 a year do not have to register for HST. Currently those businesses can opt out of the GST system, but they have to collect provincial sales tax.
Bruce Craig and his wife Patricia operate the Harbourlights Guest House in North Lake, and at first they were skeptical when told they could stop charging sales tax.
"Our initial thought was that we were going to have to collect HST, which was going to raise the cost of visitors staying at our place," said Bruce Craig.
"Now apparently we won't be collecting any tax at all, and [that] certainly will give us an advantage in attracting visitors."
Businesses that choose not to collect HST won't be able to take advantage of claiming back the tax on their expenses.
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