Today I will be analyzing an article from CBC news about the petition against the HST tax a.k.a the Hated Sales Tax. The link is: http://www.cbc.ca/canada/british-columbia/story/2010/08/20/bc-hst-petition-court-decision.html
In this article it discusses the HST tax and a petition against it. Former premier Bill Vander Zalm's 700,000 signatures on this petition from people who live in British Columbia. This was presented to the provincial supreme court and it ruled that the petition may proceed. The residents who have an average income are solidly against this HST tax and are happy to see the petition proceed. However, business owners are disappointed about the petition proceed.
Chief Justice Robert Bauman basically announced that Gordan Campbell is proud of people for standing up for their democratic rights. Vander Zalm seemed to be encouraged by the courts ruling. The legislative now has thirty days to meet up and ninety days after that to decide on a referendum.
The HST tax is related to the textbook because now there will be no need for PST recoverable and PST payable. The HST tax will be treated as a GST recoverable and GST payable. This is only taking place in British Columbia and Ontario, so accountants will still have to learn both the methods of taxation. Businesses will also be now receiving more money in tax return.
Personally I don't think that the HST tax will go away. This is because many business owners will vote against the petition. It is to their benefit to have the HST as the tax instead of GST and PST.
