Victoria has released its proposed transition rules for the harmonized sales tax (HST) set to replace the province’s existing sales tax regime July 1, 2010.
Generally, the HST will begin to apply on May 1, 2010 for any prepayment of goods and services provided on or after July 1, 2010.
Businesses, however, will need to be careful how they calculate their taxes next year as the PST will apply for taxable products and services up to June 30, while the HST will apply starting July 1. Leased goods will be taxed in this way as well.
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