The looming harmonized sales tax (HST) will increase the cost of doing business, according to a group of Chinese-Canadian business owners who met in Vancouver’s Chinatown yesterday.
Jamie Chan, owner of 6 Spa & Beauty Salon, said the introduction of the HST on July 1, 2010, will slow the recovery of the Canadian economy because it will discourage spending.
“To me, it’s a ‘homicide sales tax.’ It will kill everybody. (The government) should do something to stimulate the economy, not jeopardize it,” said Chan.
John Wong of Wong’s Insurance said his firm will lose its competitive advantage against public insurers.
“Now there’s no advantage to buying private — if you buy from the dealer or private you pay 12 per cent,” Wong said.
Tony Tsang of the Union of Traditional Chinese Medicine (TCM) Association of B.C. said his group is fighting the HST because they are providing an essential health service.
He said some in the TCM community already absorb the five per cent GST to help patients but they don’t want to absorb any more.