B.C. Liberals to lower HST rate, offer rebates, hike corporate taxes
VICTORIA - If British Columbians vote to keep the HST in the referendum next month, the rate will be cut to 10 per cent by 2014, Finance Minister Kevin Falcon announced on Wednesday.
The cut would be in two stages, to 11 per cent on July 1, 2012 and to 10 per cent on July 1, 2014.
In addition, all families with children under 18 and lower income seniors will get by the end of the year a one-time transition cheque, which will be $175 for each child and $175 for seniors.
Falcon described the payment as a bridge for families to get them through to the first cut in the HST, which will take effect a little over a year from now.
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