As we arrive at the one-year anniversary of the B.C. HST referendum, it’s interesting to hear that small business owners who voted in favour of a return to the PST/GST system are beginning to have second thoughts.
Admittedly, most businessesmen and women voted to keep the HST (especially when it was going to be lowered to 10 per cent from its current 12), but according to a recent survey by Sage North America nearly 20 per cent of respondents who voted to extinguish the combined tax said that, if the referendum was to take place today, they would change their vote.
Their main concerns are: increased paperwork thanks to the reversal of policy (75 per cent), expected negative impact on the economy (62.5 per cent) and the amount of personal time needed to make the switch (58.9 per cent).
The survey also asked what kind of impact they think their company will experience due to the switch (expected by March 2013), and nearly 58 per cent of respondents believe they will experience a negative impact, while 17 per cent believe there will be a positive impact. Overall, 45 per cent of respondents believe they will be a “loser” after the switch in 2013, compared to the 15 per cent who believe they will be a “winner.”
In short, change is a pain in the ass. And when you make a change, adjust to a change, and then revert back to a previous state, it sucks even more.
But there is still one very positive outcome to this whole debacle: accountants and bookkeepers will become so busy that they’ll be able to keep our economy afloat by being the only ones able to afford new cars, homes, gold pocket protectors and diamond-encrusted calculators.
Pity that I’m a word geek rather than a math whiz. M
Photo Contest - Final Week - 20+ prizes
It’s the final week to enter our 12th Annual Photo Contest for the chance to win over 20 prizes. 1st Prize in each of the six categories is a $175 gift card from Prism Imaging; 2nd Prize in each of the six categories is a $100 gift card from Prism Imaging; 3rd Prize in each of the six categories is a $50 gift card from Art World — plus there are additional Prism prizes of $100 gift cards as selected by Prism Imaging.
A $100 cash prize will also be randomly chosen from all entries and handed out to the winner at the exhibit opening being held on Tues., Sept. 25 at the Arts Centre in the Cedar Hill Recreation Centre.
You can find all the details online at MondayMag.com/contests. Deadline is Friday, Aug. 31. Entry fee is $10 per photo. Good luck.