Chamber says: Consumer HST Mitigation Good for Small Business

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NEWS RELEASE
Two measures to assist consumers cope with the HST will ultimately benefit small business.

“Mitigation for HST effects and continued support for tourism marketing were the pieces we looked for in this budget. Personal income tax reduction and home energy rebates are very good. Tourism funding receives a significant bump, but the housing rebate level is unchanged.” says Bruce Carter, chamber CEO. “We still have a lot of work to do to ease the transition to HST.”

Consumer Relief
• Increase in the personal income tax threshold to $11,000 from $9,373
• Rebate for the provincial portion of HST on residential energy

“Each of these new measures will help to mitigate the impact of HST on the personal budgets of every individual or in other words small businesses customer,” says Carter.

Tourism Funding
One time budget injection of $39 million for tourism marketing to capitalize on the Olympics

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Residential Housing
No movement on the $400,000 threshold on the provincial portion of HST for new home purchases

Municipalities have work to do
Each municipality will have to calculate whether the 75% HST rebate on the provincial portion of HST for municipalities will work out to be revenue neutral

HST Transition
Concrete mitigation measures needed for tourism industry to transition into the new HST environment
Expect much of this will be in transitional rules that are being drafted
 
The Greater Victoria Chamber of Commerce has approximately 1500 members and is the voice of business for the Greater Victoria region. The Greater Victoria Chamber has received Accreditation with Distinction from the Canadian Chamber of Commerce.

For more information contact:
Shannon Renault
Manager Policy Development & Communications        
Greater Victoria Chamber of Commerce                                              
Tel: (250) 383 7191 Ext 208 Cell 812-0510                    
Email:  srenault@gvcc.org      

Bruce Carter 
Chief Executive Officer  
Greater Victoria Chamber of Commerce                                 
Tel: (250) 383 7191 Ext 201 Cell 812-0510                                   
Email: bcarter@gvcc.org