How to reduce the HST hit
Filed Under Main Content · Tagged: British Columbia, Charitable Trusts, Exchange Traded Funds, Funds Hedge, Goods And Services Tax, Gst, Harmonized Sales, Hedge Funds, Hst Rates, Investment Funds, Investment Portfolios, July 1, Management Fees, Mutual Funds, Operating Expenses, Provincial Sales, Sales Taxes, Segregated Funds, Taxes Federal, Times Colonist
Times Colonist- On July 1, Ontario and British Columbia implemented a harmonized sales taxes (HST), combining the federal goods and services tax (GST) of 5% with their provincial sales taxes (PST). The HST rates in those provinces become 13% and 12%, respectively.
Previously, only GST applied to the management fees and operating expenses associated with investment funds. Professionally managed investment portfolios are now subject to HST, including mutual funds, hedge funds, segregated funds, wrap products, charitable trusts and exchange-traded funds…
What HST means for your portfolio
Filed Under Main Content · Tagged: Administrative Headache, British Columbia, Charitable Trusts, Exchange Traded Funds, Funds Hedge, Goods And Services Tax, Gst, Harmonized Sales, Hedge Funds, Hst Rates, Implementation Rules, Investment Funds, Investment Portfolios, Management Fees, Mutual Fund Companies, Operating Expenses, Percentages, Provincial Sales, Sales Taxes, Segregated Funds
Times Colonist- Effective Thursday, Ontario and British Columbia implemented single harmonized sales taxes (HST), combining the federal goods and services tax (GST) of 5% with their provincial sales taxes (PST). Respectively their HST rates are 13% and 12%.
Previously, only GST applied to the management fees and operating expenses associated with investment funds. Professionally managed investment portfolios are now subject to HST — including mutual funds, hedge funds, segregated funds, wrap products, charitable trusts, and exchange-traded funds.
HST implementation rules required a calculation, not based on the location of the fund manager, but rather on the location of the investor and the value of the investments. That created an administrative headache because some provinces already have HST of varying percentages, while some have only GST. Therefore, many mutual fund companies developed blended rates…
What HST means for your portfolio
Nobody misled on harmonized sales tax during B.C. election says finance minister
Filed Under Main Content · Tagged: Finance Minister, Hansen, Harmonized Sales, Home Purchasers, Nbsp, Ndp, Sales Tax, Times Colonist Victoria, Tough Times
Times Colonist, Victoria, BC – He admitted new home purchasers face tough times. The NDP says the tax will be $36,000 on an $800,000 home; Hansen put the amount at $20,200…
Nobody misled on harmonized sales tax during B.C. election says finance minister
