I'm thinking about selling a product and i need to see how much taxes i am going to put into my product.
Please & Thank you
2007-02-12 13:08:00 · 6 answers · asked by Dat gurl Carisha!! 1 in Business & Finance ➔ Taxes ➔ Canada
GST is 6% (lowered from 7 last year). PST varies by province. 7% for BC and Manitoba, 8 for Ontario, 7.5 for Quebec, 5 for Sask., 10% for PEI, none in Alberta or the territories. Newfoundland, Nova Scotia and New Brunswick charge something called HST (Harmonized Sales Tax) which in effect is GST+PST combined for a total of 14%.
2007-02-12 14:37:11 · answer #1 · answered by Anonymous · 3⤊ 0⤋
If you are going to sell a product, you don't put taxes in.
The taxes are calculated based on what you price your product at.
When you sell your product, and collect the appropriate GST, PST or HST, you then pay these taxes to the government.
You don't get to keep them. The amount of taxes "put into" your product is not up to you.
Good luck with your product launch.
2007-02-14 05:24:55 · answer #2 · answered by Mick 3 · 0⤊ 1⤋
The GST is 7% right now. It just went down from 8%. The PST varies from province to province. Here in Ontario it's 7% but in Alberta, which is soaked in oil, there isn't any PST at all.
2007-02-12 13:13:33 · answer #3 · answered by kevpet2005 5 · 0⤊ 3⤋
PST is NOT "much like a state tax in the USA", state tax is generally in reference to a state levied income tax, PST is a provincial level commodity tax, not a tax on income and would compare more to sales and use tax in the states.
2016-05-24 03:13:02 · answer #4 · answered by Anonymous · 0⤊ 0⤋
total of 14% one is 8% and one is 6%
2007-02-12 13:15:37 · answer #5 · answered by Anonymous · 0⤊ 0⤋
It depends on the province how much provincial tax is. As for government, they lowered it to 6%. One whole percent. Thanks a lot. That saves us taxpayers a bundle.
2007-02-12 13:13:59 · answer #6 · answered by reflective_pool 2 · 0⤊ 0⤋