Business federation's survey says GST has taken huge toll.
Author | Wycks, Michael |
Position | Canadian Federation of Independent Business - Goods and service tax |
"The goods and services tax has cost Canadian businesses almost $10 billion in implementation and compliance costs, according to John Bulloch, president of the Canadian Federation of Independent Business (CFIB).
Bulloch says the GST has taken an unprecedented toll on consumers, small business owners and the economy as a whole.
"To introduce this tax, and levy such an enormous cost burden when the economy was in the midst of a severe recession, is unconscionable," he adds.
Bulloch disputes a Jan. 4 claim made by federal Revenue Minister Otto Jelinek that "Canadians will realize the GST isn't a bureaucratic nightmare after a week, two weeks, or a month of learning how the tax works."
According to a recent study carried out by the CFIB, the GST has had a crippling impact on business.
A total of 25,362 small- and medium-sized businesses from every region of Canada responded to the June survey which asked business owners to detail the costs associated with the new tax. The results were then extrapolated to the overall economy.
The overwhelming response was the strongest the organization has received to a national survey in its 20-year history.
Asked about the overall impact of the GST, 71 per cent of respondents said the tax has had a negative effect on their businesses. Only 8 per cent of small business owners felt the GST has benefited their operation.
The number one reason for opposing the GST is the extraordinary costs of implementing and operating the new tax.
Bullock says the GST's total price tag for 1991 - $9.6 billion - is comprised of two different costs associated with the new tax system - the one-time cost to a business of implementing the GST and the on-going costs associated with collecting and remitting the GST.
"While the federal government sat back and watched the...
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