17 Jun 2010

How small Ontario businesses are affected by HST

Most people do not know or understand how HST is going to affect them. Even though there has been much publicity about HST, from the many people we speak to everyday at our Toronto self storage facility, the majority of these persons are misguided about their understanding or do not have any knowledge about the impending changes that are going to have major impacts on the daily lives of all Ontarians.

Large businesses are ready for HST but many small companies have no idea how HST will affect them. Most businesses do not understand that they will be able to apply the full HST input credit for various costs and services so that HST will flow through for the full 13% paid out vs the 5% GST that was the permitted input prior to the first of July. This will be a bonus and is supposed to help increase the bottom line of Ontario businesses and therefore increase opportunities for investment and new jobs for Ontario. At least, that is the message that Government is trying to send out, but businesses should not believe the political line that is being circulated.

The fact is that people willing to spend money will only find that at month’s end they will have less to spend and therefore will hold back on discretionary purchases and the government promoted windfall for Ontario businesses will result in another slow down or even recession for Ontarians.

As a Toronto self storage business, we do not support this government initiative and will continue to work for changes in government policy. In order to stimulate a poor economy, there has to be a reduction of taxes, not an increase during a most critical time for the Canadian economy.

When Jiffy Self Storage tenants in Toronto will come in to pay their rents on July 1, we will apologize for the increase due entirely to new taxes and refer them to a picture of our Premier Dalton McGuinty and ask that if they have a beef about increased storage rates, instead of taking out their frustrations on us, they should contact Dalton and let their voices be heard. Jiffy Self Storage and other Toronto storage facilities can only apologize in this instance but all of us cannot sit idle. We have to stand up to those renegades on Parliament Hill.

Want to contact Dalton? You can email him at http://bit.ly/VLAFe.

If your message is private or personal, you may choose to write Dalton at the following address:

Dalton McGuinty, Premier
Legislative Building
Queen’s Park
Toronto ON M7A 1A1

…Or you can fax Dalton at (416) 325-3745….and while you’re at it, make sure that you also contact your local MPP.

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