jdobbin Posted November 9, 2007 Report Posted November 9, 2007 I save in the ballpark of the same on normal spending. If I buy a new house, which I may soon, it would benefit me. It would be a second property (I'd rent out my condo), so GST affects this.What's your car worth Dobbin? $100 savings per $10,000 in car cost. A $30,000 car adds $300 to that GST savings, perhaps spread over 3 years. It all adds up. Eliminating all GST on house purchases would be a big step towards having young people get into ownership faster. It would also lower rental costs indirectly. What are you proposing? A 5% Income tax cut? That would save you $1,500. I personally think that a 5% cut to the lowest rate would require cuts to the upper brackets as well. I haven't looked at the numbers either, but I figure a 5% Income tax cut would be way more costly than a 1% GST cut. A 5% income tax cut sounds just about right. I was thinking 2% now and 1% in each year after with no change to the GST. I'd rather get hit with the big tax on large ticket purchases that on my yearly income. Quote
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