The Toronto Star reports that an ACMO luncheon panel to be held in September on the topic of the HST will feature a very brave parliamentary assistant to the minister of revenue. The article also outlines ACMO and CCI’s estimation of the impact the new tax will have on condo corporations and unit owners, which information has been submitted to the Ontario government. (See ACMO’s submission here.)
Update (Sept 27/09): National Post reports on the above-mentioned ACMO luncheon here.
Unfortunately, it appears that arguments being made by the condo industry associations in support of exemptions or reductions of the HST are falling on deaf ears, as are the pleas of every other industry association, social group and watchdog. By all accounts the government has very clearly made up its mind on the HST and is now firmly focused on "selling" the tax to anyone who will listen. The time for submissions and petitions has therefore passed — Consumers and their condo corporations will be paying HST starting next July. It now falls to condo boards to prepare themselves and their unit owners to deal with the coming new reality.
We wrote about the HST back in March when it appeared imminent that the province would introduce this new tax to help offset massive multi-year deficits. We suggested back then that condo corporations begin budgeting for HST and establish a program of reducing expenses and increasing contributions to the common expenses and reserve funds. See that piece here.
With only ten months until the HST becomes effective, there is no time to lose.
What steps are you taking at your condo corporations?