How the Grinch taxed Christmas!
The Grinches in Ottawa may not be stealing Christmas, but next year they are doing the next worst thing: taxing it.
Next Christmas, Canadians will be paying more for toys, warm winter clothing and even the lights on their Christmas trees, thanks to a little-known change to the tariff code.
In Budget 2013, the Federal government changed the tariff status of goods produced in over 50 countries, including India, China, Indonesia, Malaysia, Brazil, Thailand and Argentina. The new rules come into effect on January 1st, 2015 and will have Canadian consumers pay higher tariffs on over one thousand types of goods, ranging from toilet seats to coffins. The Federal government estimates Canadians will pay an extra $350 million each year in taxes due to these changes.
READ MORE: http://mowatcentre.ca/how-the-grinch-taxed-christmas/
While the Federal government has not released a list of the affected goods or how much more revenue each tax increase will generate, we can estimate them using the World Bank’s WITS database. The WITS data shows that even small children will not escape these tax hikes, as the tariff on tricycles, wagons and dolls’ carriages is increasing from five to eight per cent. The tax increases on Timmy’s tricycle and Maggie’s little red wagon will cost kids (or more accurately, their parents) an estimated $16 million per year.
Administrators comment..... The CPC just announced a commission to investigate the US/Canada price differential.... serious Canada.... Stephen Harper thinks you are an idiot .... are you going to prove him right in 2015?
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