TELUS welcomes HST in Ontario
Toronto, ON – TELUS would like to commend the Government of Ontario for making the decision to introduce the Harmonized Sales Tax (HST) in 2010.
Once in place next year, the single tax structure, which will replace the GST and Provincial Sales Tax, will save TELUS alone millions of dollars a year in back-end administrative and other costs, allowing the company to accelerate its investment in Ontario and to maintain jobs in this difficult economy.
“By simplifying the province’s tax structure the HST will take costs and double-taxation out of our business, and thousands of other businesses across the province. That will make Ontario a more attractive and competitive place to do business, encouraging innovation and price reductions for consumers and exports,” said Robert McFarlane, TELUS executive vice-president and CFO. “TELUS is investing $300 million in wireless and wired broadband infrastructure in Ontario this year alone. Savings from HST will allow us invest more than previously possible in Ontario in the future. Applying that across all industries, this announcement will mean more investment in the province, and more jobs.”
The current PST creates double-taxation, as it applies to businesses when they first purchase goods, and then again to consumers when businesses sell those same goods. HST eliminates this double-taxation.
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