I was just reading the news today on how in the beginning of next year there is apparently a plan in place to cut our GST tax rate from 6% to 5%. For those who don’t know, we pay two types of sales tax here.
Kind of surprising I thought considering we just had it decreased by 1% not too long ago. While I guess this should be a good thing from a consumer perspective, it kind of makes me wonder if cutting taxes that fast will have a negative effect in the long run.