Goods and Services Tax - GST
"GST" is often seen as "GST/HST" because in three provinces (Nova Scotia, New Brunswick, and Newfoundland and Labrador) the GST is combined with a provincial sales tax to create what is known as the Harmonized Sales Tax.
Certain essential goods and services, such as groceries, prescriptions and medical services, are exempt from the Goods and Services Tax. Technically, exempt items are taxed at 0% and are thus referred to as "zero-rated supplies".
Investment dictionary. Academic. 2012.
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Goods and Services Tax — A goods and services tax or value added tax is a tax on exchanges.By country: *Goods and Services Tax (Australia) *Goods and Services Tax (Canada) *Goods and Services Tax (New Zealand) *Goods and Services Tax (Singapore) *Goods and Services Tax… … Wikipedia
Goods and services — In economics, economic output is divided into physical goods and intangible services. Consumption of goods and services is assumed to produce utility (unless the good is a bad ). It is often used when referring to a Goods and Services Tax.We… … Wikipedia
zero-rated goods and services — Goods and services that are taxable for value added tax purposes but are currently subject to a tax rate of zero. These include: • certain food items; • sewerage and water services for non industrial users; • periodicals and books; • certain… … Accounting dictionary
zero-rated goods and services — Goods and services that are taxable for value added tax purposes but are currently subject to a tax rate of zero. These include: • most food items, • sewerage and water services for non industrial users, • periodicals and books, • certain… … Big dictionary of business and management
Ecological goods and services — or EG S are the benefits arising from the ecological functions of healthy ecosystems. Such benefits accrue to all living organisms, including animals and plants, rather than to humans alone. However, there is a growing recognition of the… … Wikipedia
zero-rated goods and services — zero rated supplies or zero rated goods and services Fin in the United Kingdom, taxable items or services on which VAT (Value Added Tax) is charged at zero rate, such as food, books, public transport, and children’s clothes … The ultimate business dictionary
gouge-and-screw tax — Canadian Slang Goods and Services Tax (Canada) … English dialects glossary
tax — 1 vt [Medieval Latin taxare to assess for taxation, tax, from Latin, to assess, value, fix] 1: to assess or determine judicially the amount of (costs of an action in court) 2: to levy a tax on tax the corporation tax capital gains tax·er n tax 2 … Law dictionary
goods — W2S2 [gudz] n [plural] 1.) things that are produced in order to be sold electrical/industrial/agricultural etc goods ▪ furniture, carpets and other household goods ▪ the large market for consumer goods (=televisions, washing machines etc) ▪… … Dictionary of contemporary English
tax — A charge by the government on the income of an individual, corporation, or trust, as well as the value of an estate or gift. The objective in assessing the tax is to generate revenue to be used for the needs of the public. A pecuniary burden laid … Black's law dictionary
Tax incidence — In economics, tax incidence is the analysis of the effect of a particular tax on the distribution of economic welfare. Tax incidence is said to fall upon the group that, at the end of the day, bears the burden of the tax. The key concept is that… … Wikipedia