Sharing Daily Discoveries About Personal Finance And Business Topics

Another GST Tax Cut

large business and finance

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.

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