Elimination of HST will be beneficial for consumers
Posted March 25, 2013 4:58 pm.
This article is more than 5 years old.
VICTORIA (NEWS1130) – Prices will go up or down, depending on what you’re buying.
British Columbians are just one week away from the elimination of the HST and the switchover to the PST/GST.
Central 1 Economist Bryan Yu says overall the changes benefit consumers.
“Things like dry cleaning, eating out, everything from massage therapy to hair cuts, those will all be a little cheaper once the tax change takes place.”
Yu says there are few things that will cost you more. “Alcohol will go back to the pre-HST system which therefore will mean it will be a little bit more expensive relative to the HST at about 15 per cent tax total.”
He says some items will stay the same, including used cars, public transit fares, household pet supplies and electronics.
Yu says businesses will see some costs go up because there will be a lack of tax credits that were given under the HST.
The PST/GST kicks in on Monday.
