In March 2009, the Ontario government announced that it would be harmonizing its PST with the federal GST in order to create a single consumption tax of 13% effective July 1, 2010 ("Harmonized Sales Tax" or "HST"). Other provinces have previously implemented a similar regime or are about to follow suit. The change brings with it the need for both landlords and tenants to understand and plan. From a leasing perspective, that includes ensuring that their leases adequately address the new system.
Read the full article here: Ontario Update - Preparing for the Harmonized Sales Tax- September 9-2009
The information contained in this article is provided for general informational purposes only and does not constitute legal advice. No recipient of this content should act, or refrain from acting, based on any information included without seeking appropriate legal or other professional advice on the particular facts and circumstances at issue.
