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What is GST?

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NZFinance
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What is GST?  Reply with quote  

What is GST? Why some countries do not have tax on consumers?
Post Tue Jul 12, 2011 1:30 am
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oldguy
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GST - Goods and Service Tax. It is a national sales tax, Canada, France, Australia, use it to supplement their national income tax revenue. Another version is the VAT - Value Added Tax - the UK uses that nomenclature.
Post Tue Jul 12, 2011 2:13 am
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coaster
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Re: What is GST?  Reply with quote  

quote:
Originally posted by NZFinance
What is GST? Why some countries do not have tax on consumers?

Wha!?!?

Man, have you ever been brainwashed, in my not-so-humble opinion!!

The question you should be asking is "why do some countries tax their consumption?"

An even better question is "why do some countries tax both income AND consumption?"

Can't they figure out if you squeeze the poor income earner from both ends, on what he earns and on what he spends, it's awful damn hard to get an economy going? It's people earning and spending that make an economy sing. You take a bite out of both ends, and not to mention the middle through all the HIDDEN taxes, and that poor earner/consumer ain't gonna sing ..... lest it's the fat lady singing about the death of their economy. And guess what .... tax revenues are directly correlated to GDP. And I do mean directly. Not to tax rates* You want to raise tax revenues, you grow the GDP.


* Based on a study I did for The Bill Sebastian Show, analyzing tax revenues versus marginal tax rates
Post Tue Jul 12, 2011 7:24 am
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marshal france
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Re: What is GST?  Reply with quote  

quote:
Originally posted by NZFinance
What is GST? Why some countries do not have tax on consumers?

The GST is an indirect tax that would replace existing levies such as excise duty, service tax and value-added tax (VAT).Exports will not attract GST.

Producers will receive credits for tax paid earlier, which will eliminate multiple taxation on the same product or service.

Direct taxes, such as income tax, corporate tax and capital gains tax will not be affected.
Post Mon Aug 01, 2011 11:55 am
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Sanderson
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Is GST Tax and Income Tax both are different?
Post Thu Nov 03, 2011 11:23 am
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Abe
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GST general sales tax. It is impose on sale and impose by government.
This is necessary tax and thanks for share nice topic.
Post Fri Nov 11, 2011 3:09 pm
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Sanderson
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Goods and services tax is a tax on most goods and services in New Zealand, most imported goods, and certain imported services. GST is added to the price of taxable goods and services at a rate of 15% as well as services covers everything other than goods or money.
Post Mon Dec 26, 2011 7:30 am
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antoniabbot
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What is the basic amount the GST is charged to in Canada?
In Nova Scotia, this summer, I paid a GST charge of 1 cent on a 4 cent stamp I purchased at Canada Post. Based on this, the GST in Canada is not 14% but rather 20%! One cent is only one cent. However, it is the principle that is important. I would like to know officially, at what amount is the GST levied. Thank you and I look forward to reading your answer.
Post Thu Jan 12, 2012 9:56 am
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Bradford
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GST is a general sales tax. A general sales tax is the culmination of both state and local sales taxes. This rate varies from state to state and even town to town.
Post Wed Feb 25, 2015 5:07 pm
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