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GST & PST

Prairie Tokki LV 10 21-09-30 611

 

Here in Canada, we have 2 sales taxes that are added on top of the pricetag you'll see in stores. 

 

Depending on where you're from, you may be familiar with this but many countries already have their sales tax included into the pricetag that you see. Canada does not!

 

Here is a quick guide to figueing out the sales taxes in Manitoba.

 

We have 2 taxes:

GST (General Sales Tax)

  • This is the tax that goes to the federal government 
  • Current rate: 5%

PST (Provincial Sales Tax)

  • This is the tax that goes to the province
  • Current rate: 7%

 

Both these taxes are added onto the pricetag of everything you see. Both these taxes means you have to pay an additional 12% more money on top of the final price  (5% + 7%= 12%). Both these taxes together are sometimes called the HST (Harmonious Sales Tax).

 

So for instance, let's say you want to buy something and the pricetag says it's $10.00.

You will need to add 5% of that price for the GST and 7% of that price for the PST. 

 

So 5% of $10.00 equals to $.50 more money you would need to pay in addition to the $10.00.

7% of $10.00 equals to $.70 more money you'll have to pay in addition to the $10.00 plus the $.50 for the GST.

 

Together, this means that you'll have to pay $1.20 (12%) on top of the $10.00. This equals to $11.20.

 

So if you see something that costs $10.00 what you'll really have to pay is $11.20, after taxes.

 

We hope this helps clarify any confusion one may have!

 

 

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