Annual HST hit for average B.C. household is $521
Filed Under Main Content · Tagged: Amount Of Money, Bottom Line, Economics Professor, Harmonized Sales Tax, Household, Households, Hst, Married Couple, People, Sales Tax, Schuetze, Single Parents, Statistics Canada, Times Colonist, University Of Victoria
Times Colonist- The average B.C. household could take a hit of $521 to its bottom line next year as a result of the harmonized sales tax, according to a model prepared for the Times Colonist by Statistics Canada.
The change could range anywhere from $78 for households with single parents and one child to $801 for a married couple with no children, the figures show.
"There are certainly individuals and households that will feel the impact of this tax," said Herbert Schuetze, economics professor at the University of Victoria. "For example, if you are unattached and 65 years or older we’re talking about $262 a year. That’s a considerable amount of money for some people…"
