What is Harmonized Sales Tax?
Harmonized Sales Tax or HST was introduced in five provinces of Canada, namely, New Brunswick, Newfoundland and Labrador, Nova Scotia, Ontario and Prince Edward Island. HST is a collaborated tax which has been formed by combining the federal Goods and Services Tax (GST) and the regional Provisional Sales Tax (PST). After a long debate, it finally came into implementation initially in the province of Ontario on July 1, 2010. HST had divided much of the public into two, some who were strongly supporting and others who were disapproving of the new tax.
What are the benefits of Harmonized Sales Tax?
With the implementation of Harmonized Sales Tax, a lot of hidden taxes have been removed from the taxation system. This has lowered the cost of doing business in the HST influenced regions of Canada and resulted in increased savings for consumers. Lower business costs have also increased investment flow in the provinces and have become a major factor for increased employment and income.
Why do you need HST calculator?
Harmonized Sales Tax is the amount that has to be paid by the final customer. Because of the complexities of the HST rules, it may be overwhelming for small and medium-sized businesses to understand the process of HST calculation. To make things simpler and reduce the complexity in the process of calculation, there is this online tool known as HST Calculator. If you are a small business owner or a sole proprietor, this calculator is going to be very beneficial to you because this will save a lot of time and money that you could be wasting trying to figure out how much HST you have to pay to the government.
This is a very simple online tool which is used for calculating HST for the Canadian provinces where Harmonized Sales Tax is used. It is a great tool for anyone who finds it difficult to calculate the HST or those who do not want to spend much time in doing so. The calculator saves a lot of your time by making the process quite simple. Take a look at the instructions below to understand how to use it:
- Select the province you need to calculate HST for.
- Enter the value. This value could be the price including HST or price excluding HST. The other values (PST and GST) will be calculated instantly.
Isn’t that simple?
Take a look at some of the features of this calculator:
- Calculates HST for all Canadian provinces where Harmonized Sales Tax (HST) is implemented.
- Gives instant results.
- Can be used as a reverse calculator.
- Free for personal and commercial use.
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