EDITORIAL: Less reason to axe the tax

Is a two per cent cut to the HST sufficient to keep the tax reform measure alive after June’s referendum?

The B.C. Liberals are hoping so.

Announced Wednesday, along with annual rebate cheques for each child and low-income senior, the “fixes” mean all income brackets will be better off under the HST than with the old provincial sales tax structure, according to finance minister Kevin Falcon.

The current low-income rebates would continue to be paid, and $175 transition cheques would go to parents for each child under 18, and some seniors as well.

Single seniors earning up to $40,000 a year would get the entire $175, and a partial payment for incomes up to $43,500. Senior couples would receive $175 for a combined income up to $40,000 and a partial payment up to a $50,000 income.

The measures do remove much of the argument against the HST, albeit over three years, with the first one per cent cut occurring in July of next year.

Including the rebates, the impact of the HST will be largely negated for the income brackets ostensibly least able to absorb an additional tax burden.

And according to the government, the statistically average family will see an overall tax reduction of about $120 per year when the HST rate reaches 10 per cent.In the meantime, the HST has the potential to do what it was intended to do, which is to boost the economy by reducing costs to business, and encouraging investment and job creation.

It makes little sense to return to an antiquated, multi-layered tax system – other than to “punish” the government for the manner in which it rolled out its tax reform policy.To do so might yield superficial satisfaction for some, but eliminates the prospect of long-term economic benefit for all.

– Black Press

Just Posted

Rainfall warning: Up to 70 mm expected across Fraser Valley

Environment Canada issued a weather warning heading into the long weekend

Chilliwack students take the lead as mental health advocates

About 100 Chilliwack youth prepped to make a difference during Mental Health Week

Chilliwack PEO: ‘We who are sisters’

International oganization celebrating 150 years of service

No more mobile vendors on Harrison beach

The approval of an updated business licence bylaw means Nolan Irwin is without a cart

BC Ferries to pilot selling beer and wine on select routes

Drinks from select B.C. breweries and VQA wineries to be sold on Swartz Bay to Tsawwassen route

VIDEO: Alberta man creates world’s biggest caricature

Dean Foster is trying to break the world record for a radio show contest

Multiple people injured after deck collapses during celebration

Emergency responders rushed to the Langley home

B.C. RCMP receive application for Police Cat Services

RCMP announced the launch of the Police Cat Services unit as an April fools joke

Rats available for adoption in Vancouver

In a social media post the City of Vancouver says you can adopt a rat for $5.

Kirkland Signature veggie burgers recalled due to possible metal fragments

Recalled products came in 1.7 kg packages with a best before date of Apr. 23, 2019

Chaos at the ferry terminal for people heading from Vancouver to the Island

Easter crowds create backlog at Tsawwassen ferry terminal

Parents of 13 who tortured children get life after hearing victims

One of their daughters fled their home and pleaded for help to a 911 operator

Crews battle Burnaby blaze; 2 people sent to hospital

Emergency Support Services helping residents displaced by fire

Flooding, climate change force Quebecers to rethink relationship with water

Compensation for victims of recurring floods limit to 50% of a home’s value, or a maximum of $100,000

Most Read