1% reduction in the GST rate
Beginning January 1, 2008, the rate of the goods and services tax (GST) will be reduced by 1%, that is, from 6% to 5%.
This reduction was announced by the federal Minister of Finance Jim Flaherty. Documentation concerning the Economic Statement is available on the website of the Department of Finance Canada.
Revenu Québec will provide further information on this subject as soon as the impact of this announcement is known.