I know that GST is usally 6%, but I just got a bank charge (by CMHC) that said the GST was 8% is this correct or could this be a bank error?
2007-10-22 11:12:21 · 3 answers · asked by ms tee 2 in Business & Finance ➔ Taxes ➔ Canada
hi! theGST tax is a 6% charge (previously 7% before July 1, 2006). However the PST/ORST in Ontario is calculated at Four different rates depending on what is being purchased:
8%for most goods and taxable services 5% for transient (Hotels, motels etc.) accommodation
10% for admission to places of amusement and sales of alcohol
12% for alcohol sold by the LCBO .
Hope this helps.
GOOD LUCK
2007-10-24 06:00:52 · answer #1 · answered by john 1 · 0⤊ 0⤋
Total tax in Ontario = 14%
GST = 6%
PST = 8%
2007-10-22 12:07:39 · answer #2 · answered by Wayne Z 7 · 0⤊ 3⤋
I've never heard of it being 8% before in Ontario. I would check with the bank to see what's up with that.
2007-10-22 11:26:05 · answer #3 · answered by LindaLou 7 · 0⤊ 0⤋
Perhaps they mean PST. GST has never been 8%, and does not apply to financial services.
2007-10-22 12:33:33 · answer #4 · answered by CanadianBlondie 5 · 0⤊ 0⤋
Of course it is 6%, maybe, the bank don't know what they are doing, as usual, want to rip off the consumer. Go back to them and demand for excess refund.
2007-10-23 16:21:16 · answer #5 · answered by gtseng0114@rogers.com 1 · 0⤊ 0⤋
oh !!!!!!!!!!!!!!!!!!!! it's 8%.
2007-10-22 14:40:57 · answer #6 · answered by Dhaval Khamar 2 · 0⤊ 1⤋