HST Benefits for Small Businesses-Revisited
The harmonized sales tax (HST) that was implemented in Ontario last summer was designed to combine both GST and PST, making it a value added tax. This means that the value is only added by the business providing the goods or services to consumers. It attempts to avoid a situation where products are taxed repeatedly throughout the production process, as done with PST. This results in lower costs at the final stage of production.